Sales Retail Practice Exam

Sales Retail

A retail business consists of bringing the customers into the retail business and obtaining things that they want. This is also known as retail management. The most important aspects of retail management include Customer relationship management, brand management, and sales management. It is essential to ensure a pleasurable customer experience and these professionals work towards customer satisfaction.

Roles and Responsibilities

Some of the major roles and responsibilities of these professionals include the following:

• To close and open the store.

• They hire employees, manage, train, and motivate.

• Manage the work schedules of the employees.

• Develop short and long-term business plans and strategies.

• Set store sales targets, anticipate future sales volumes and stick to sales quotas.

• Create and carry out promotions.

• Establishing and monitoring store budgets.

• Purchase things from merchants and providers and work out terms with them.

• Analyse and organize your inventory.

• Make and keep attractive and accurate store displays.

• Organize and supervise product line evaluations.

Who should give this exam?

Anyone with a bachelor’s degree in retail management with a master’s and doctorate degree in a reputed university can take this exam.

Skills Required

• Management skills

• Communication skills

• Retail management

• Analytical skills

• Interpersonal skills

Career Prospects

• Retail manager

• Store manager

• Merchandiser

• Retail buyer

• Supply chain manager

Table of Content

The Sales Retail exam covers the following topics - 

Defining the retail supply chain

• Introduction

• More than stores

• Defining the terms: supply chain and supply chain management

• Learning the importance of customer segments

• Adding value along the chain

• Learning types of retail supply chain businesses

• Learning supply chain component data

A changing world: moving toward comparative advantages

• Learning basics in comparative advantage

• Learning concept of distance

Drivers of retail supply chain change

• Introduction

• Drivers are important

• Learning innovation driver

• Extended product design

• Learning globalization

• Flexibility imperative-the ultimate capability

Paths to the customer

• Introduction

• Learning meeting market needs – dimensions

• Procter & gamble case study

• Learning role of specifications

• Nature of demand

• Learning quality function deployment (qfd) tool

Product types – value to the customer

• Introduction

• Learning the product life cycle

• Innovative and functional products

• Learning market mediation costs

• Learning customer value and product types – summary

Retail supply chain management – skills required

• Introduction

• Learning five tasks for scm excellence

• Learning assessing retail scm skills

The demand-driven supply chain

• Vision for the demand-driven supply chain

• The path from forecast-driven to demand-driven supply chain

• Learning demand-driven tools and techniques

• Learning sponsoring the demand-driven supply chain

Product tracking along retail supply chains

• Introduction

• Learning low tech retailing

• Beyond basic bar codes

• Learning radio frequency identification

• Tracking in transit

• Learning the future of product tracking

Understanding supply chain costs

• Introduction

• Learning barriers to cost visibility

• Goal: activity-based costing by product

• Learning the starting point (i-a)

• Department costs with capital recovery (ii-b)

• Multicompany process cost (iii-c)

• Learning activity-based costs by-product (iv-d)

• Understanding costs—summary

Retail return

• Introduction

• Learning genco case study—the rise of the return loop

• Learning types of returns

• Opportunities in returns