Problem Solving – Retail
we learn the importance of shopping, the role of shopping and retail at a resort, as well as the importance of layout and design, and retail analysis for space allocation, profitability and turnover. Your submission on this assignment should demonstrate how you have achieved the learning objectives, understand the related concepts and strategies, and how you can apply this new knowledge to the problem. Here is the problem:
You are an employee in the Corporate offices of a global resort management company. Given your education and degree from UCF’s Rosen College, you were hired to assist in increasing profitability at the company’s resorts in the southeast region. Your project for the next several months is to examine the retail operations of the company’s resorts. Your first project is a destination resort in Florida. Your boss, the Vice President of Resort Profitability – Amenities, is looking for a quick fix and is less concerned about changing the items and prices of those items currently for sale. Instead, your boss says your focus should be on use and allocation of the retail space in relation to revenues, profits and gross margin. A secondary focus could be helpful in the area of turnover and stock to sales ratios. Lastly, you may consider the physical layout of the store.
There is no limit to the number of recommendations that you can make, but those recommendations must demonstrate your knowledge and appropriate application of the concepts, terminology and learning objectives from Retail – Module 8 with the highest points going to those related to Sales Analyses (space and revenue or profit or margin comparisons), followed by Inventory Management (turnover and stock to sales ratios), with Layout & Design being least important. You do not have to restrict your recommendations solely to one analysis – feel free to make recommendations related to Sales Analyses and/or Inventory Management and/or Layout & Design. However, any analysis or recommendation must be at the item-specific level. Sales Analyses and Inventory Management recommendations should include the appropriate calculations.
You should use the Resort’s Retail Outlet Annual Report & Performance Resort’s Retail Outlet Annual Report & Performance and the pictures below as the basis of your recommendations.
All the picture and module 8 is in the word files.
