Store Operations
TITAN STORE
(GIP MALL, NOIDA)
SUBMITTED TO:- SUBMITTED BY:-
Mr.Satyendra Group No.6
INTRODUCTION
Titan Industries is the world’s fifth largest and India's leading manufacturer
of watches. The company has manufactured more than a 100 million
watches till date; and has a customer base of over 80 million.
The umbrella brand Titan is one of India's leading watch brands that brought
about a paradigm shift in the Indian watch market, offering quartz
technology with international styling.
The Titan brand comprises several collection and sub−brands, are: -Titan
Edge The world's slimmest watch which stands for the philosophy of "less is
more”.
-Titan Raga the feminine and sensuous accessory for today's woman,
-Nebula − crafted in solid 18k gold and precious stones.
-Several other popular collections like Xylus, Heritage, Aviator, Regalia,
Octane & WWF also form a part of the Titan wardrobe.
Titan portfolio has over 60% of the domestic market share in the
organized watch market.
The company has 247 exclusive showrooms christened “World of
Titan”.
The company has a world−class design studio that constantly
invents new trends in wrist watches.
DAILY STORE OPERATION GUIDELINES-
Store opens by 9:30 am with the help of any of the female staff member.
Cleaning of the entire store is done every day before opening the store.
Each watch is counted every day after opening the store.
Store manager or any of the staff member updates the opening stock.
Revise the list sent by the head office.
Updates the discounts and the promotion on various watches.
Empty space inside the display shelves is filled with the new watch, kept
in the back store.
The cash is maintained & distributed by the cashier or store manager.
Counting of the stock.
At night, closing of cash is done.
For receiving the cash of previous day a person comes in the morning
daily to collect the cash with the prior signature of the person who is
handling the cash at that particular time.
MERCHANDISE MAINTENANCE:-
Each watch is packed inside a small plastic packet so to save it from
dust for the watches which are not on display.
Watches are properly packed inside the box according to the size
and brand of the watch.
While showing it to the customer the watches are kept on the tray
instead on the glass so to avoid scratches.
The cleaning of watch is done by a soft cloth.
All the glass cabins in which the watches are displayed are also
cleaned by a soft cloth on a regular basis through this hygiene factor
is taken into consideration.
CASH WRAP AREA
GUIDELINES:-
Computer
Printer
Visiting cards
Visitor’s book
EDC machine
Store stamp
Carry bags
Keys of the display shelves
Marker
Magnifying lens
Calendar
DVD player
Telephone line
Lean charts (directory)
Stationery – scissors, pen, stapler, cello tape,
pins, paper, eraser & sharpener.
GOOD RECEIPT
GUIDELINES:-
Basically the trend which is being followed in TITAN Store is
through Discrepancies system- CFA(Carry and Forwarding Agent).
He basically receives all the stock from regional offices and then
after checking and collecting he transfers it to the store and a
problem arises than it is being informed to regional office and then
they only take the decisions for what to do with that particular stock.
Daily sales report
DSR gives an overall quantity, value sale, UCP, unit cost price and
average bill value of a particular day. It is used to compare it against
plan & last year & assists in guiding the business. sales result are
reported as a daily number month to date & year to date.
BACK STORE GUIDELINES:-
Back store act as a service centre area where
watches have been repaired by the technician.
It also acts as a changing room & eating area for the
store staff personnel.
It has the water cooler inside.
There is a computer for the technician who does
repairing of watches.
It act as a non displayed merchandise.
BACK STORE OF GIP TITAN STORE
SALES GUIDELINE:-
The customer is greeted by the sales person & is directed towards his
area of interest.
Salesperson should have proper knowledge about all the collection of
watches.
He should know the proper functioning of every watch.
He should have the information about the time of guarantee/
warrantee on watches.
Not allowed to take out more than 3 watches while attending the
customer.
He should know how to display watches in the display area.
He should make a note of customer’s requirement and suggestions in
his mind.
If incase customer asked for some watch & that particular watch is not
available in the store, than he should know how to handle a customer
at that time.
If a customer ask for a watch to be repair than a customer guided
towards service area.
BILLING GUIDELINES:-
Computer is installed with a ETP software..
Computer is present with a printer.
2 EDC machines are present to swipe the credit cards.
Once the customer selects a particular watch to buy, he presents it at the billing counter and the
cashier scans the bar code on the watch. After which the dial number and the variant number are
noted on the bill as well as on the guarantee card.
Then the customer is asked for the billing details and the method by which s/he is going to pay.
If the customer pays by CC then the cc details are taken and the bill is generated after swiping the
card.
If the customer pays by cash then the cash is counted and the bill is generated.
In case the EDC is not working then a manual bill is generated and the customer pays by cash.
The coupons are adjusted in the final bill and are as per the terms and conditions of the coupon.
If the CC is not working the cashier may ask for some other card.
The copy of counter foil is generated and signed by the customer and is kept at the store and a
customer copy is given to the customer in case of a CC payment.
The copy of this counter foil is attached to the bill & is given to the customer.
Customer name, contact number, billing address or location with the item code, price & the sales
representative name or code is present on the bill.
DEFECTED GOODS &EXCHANGE
GUIDELINES:-
The customer can exchange the watch within the same price range or price higher
than previous one within the 30 days of purchase.
If he does not find any watch satisfactory, than the store gives the opportunity to go
to some other store within 30 days.
The defected goods are sent back to the regional office.
The company can issue a credit note/mode of payment for such an exchanges.
The goods returned should not have any external defects by the customer.
The damaged piece is given to the service department and is seen by the technician.
Stock level & replenishment guidelines:-
The stock level is checked on floor & if there is shortage than it is sent back to the
regional office.
To replenish the stock store staff sends requisition to the regional office.
MONTHLY ACTIVITIES BY THE
STORE:-
To achieve the target sale.
To calculate the profit and net profit completed by the store.
Every month all the stock, sales & cash register should be closed and the consolidated
report on the same is sent retailer manager.
All the daily expenses incurred by the store should be listed in the petty cash.
Those bills are than sent to the regional office to reimburse all those bills.
The manager should be well-informed of any marketing activity happening in the
business area.
Physical verification of the cash:-
Cash is verified by the cashier of the store at the end of each day & sign a
register with complete details including the denomination of physical
cash.
Petty cash:-
It is one of the few brands that provide lunch to their staff members.
Stationery bill inks, wrapping paper, pens, etc. are involved in petty cash
when finished in between the period they will come again so they are
arranged at store level and added as a petty cash expense.
CLOSING OF THE STORE GUIDELINES:-
The departure time of each &every store staff is marked in the attendance
register along with his/her signature.
Cloth checking is done every time a store staff leaves so as to ensure there is
no merchandise from the store is being carried outside.
The lights are switched off by the housekeeping person before being vacated.
After closing the store the keys are handed over to the person who will be
opening the store , the next morning.
Housekeeping checks the store is locked.
Daily planner & statistic guidelines:-
Anyone from the staff can track the sale business throughout the day.
Every day the daily planner & statistics page for each month of the fiscal
month is saved after filling as much sales information that is available in
advance.
Month & manager checklist:-
Daily the staff has been informed about their actual performance on the basis of
their store performance.
Verify bank deposit log against validate deposit slip.
List of the document is made has been sent to the regional office.
Shrinkage of department is mentioned & if shrinkage is above the time then staff
has to give answers.
Reviewing the P & L statement of store:-
Review the P& L statement for posted sale volume.
At the end of each fiscal month all controllable expenses are reviewed to ensure
the store is within budget.
A copy of monthly P & L statement is inserted in sales report binder.
Store audits:-
It is mainly done by the company how the store is going on.
Adjustment entry passed at the time of auditing.
Store management is required to conduct a self audit minimum once in every
month, from the start of fiscal year.
External agencies can be appointed to conduct the store audit once in every
month
Maintenance of documents:-
Stock, cash & credit card registers
are maintained electronically as
well as manually.
Original stock transfer notes, as
received from CFA (carry &
forwarding agent).
Duplicate copies of cash memos;
void bills are attached with the
original bill with reason.
Details of stock adjustment are
done.
SUB-BRANDS BY TITAN:-
Thank you
