Академический Документы
Профессиональный Документы
Культура Документы
Retailing
www.studygalaxy.com
Retailing
Retailing consists of the sale of goods or merchandise, from a fixed location such as a department store or kiosk, in small or individual lots for direct consumption by the purchaser. Retail comes from the French word retaillier which refers to "cutting off, clip and divide" in terms of tailoring (1365). It first was recorded as a noun with the meaning of a "sale in small quantities" in 1433 (French). Its literal meaning for retail was to "cut off, shred, paring". Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel respectively) also refer to sale of small quantities or items.
Retail types
There are three major types of retailing. The first is the market, a physical location where buyers and sellers converge. Usually
this is done on town squares, sidewalks or designated streets and may involve the construction of temporary structures (market stalls).
Some shops use counter-service, where goods are out of reach of buyers, and must be obtained from the seller. This type of retail is common for small expensive items (e.g. jewellry) and controlled items like medicine and liquor. Self-service, where goods may be handled and examined prior to purchase, has become more common since the Twentieth Century.
The Indian retail market is estimated at US$ 350 billion. But organised retail is estimated at only US$ 8 billion. However, the opportunity is hugeby 2010, organised retail is expected to grow to US$ 22 billion. With the growth of organised retailing estimated at 40 per cent (CAGR) over the next few years,
Organized versus Unorganized Retailing Changing Age Profile And Disintegration Of Joint Family
fuel growth
Organised Retailing Will Expand Sharply Foreign Investment Will Play a Bigger Role
in Retailing
CONCLUSION:
A further testimony to the fact that the technology is being taken seriously, is its deployment in strategic sectors like defense the US Department of Defense (DoD) has mandated the use of RFID tags at the case and pallet level amongst all its suppliers so that it can have complete visibility of all its goods and assets. The Indian army could benefit hugely from adopting RFID technology. Some of the other sectors where RFID is expected to witness widespread deployment includes food, pharma, aerospace, automotive, transport and logistics, and electronics.
EPC/RFID technology has great potential in counterfeit detection across product categories a killer application for India which can liberate from the scourge of counterfeiting in pharma drugs, automotive parts, food products, etc. For a company, it is imperative first to develop a clear understanding of how RFID affects supply chain dynamics, and then be willing to question and change the ways in which supply chain planning and execution is done.
THANK YOU