Mini Masters In Retail Series

The Mini Masters in Retail  series has been designed to take you on a carefully planned learning journey for beginners in the retail industry who aspire towards being the best in the world retail status. Conducted in manageable bite size blocks, it adopts a strategic, systematic flow in terms of teaching you the skills and knowledge to master the retail process for 21st century success.

Mini Masters In Retail Series is made up of:

1. Retail Strategy And The Buying Cycle

Retail has long been a game of testing and learning: trying different things, finding out what works, and doing more of it. But as the industry matures, disciplined mid-and long term strategic planning and focused execution are becoming indispensable for sustainable performance. Retailers need to be able to identify pockets of future growth in new categories, new target groups , or new regional markets.

This course providers learners with insight into strategic decision making, retail marketing mix and the retail business model. They will learn to enhance their business acumen and awareness in terms of internal, external and competitive forces. Learn how to adaptive business models ,value propositions, and format strategies to the dynamics of emerging local and international markets.

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2. Retail Metrics

Entrepreneurial and analytical skills are generally more highly prized and rewarded in the retail sector than numerical skills. An attitude of leaving the numbers to the ‘bean-counters’ often prevails (and even the use of such a pejorative term demonstrates how poorly numerical skills are valued).  Unfortunately this attitude is no longer viable. Retail managers from all functional areas, including store management, merchandise management and distribution, must understand the impact of pricing, sales and asset management if they are to make a full contribution to the bottom line.

The Retail Metrics course provides you with a deeper understanding of the numerical side of retailing. This doesn’t mean you need to have an accountant’s insight into the numbers. As a retailer you should view the world from a different perspective. Retail is about taking risks and seizing opportunities. Focusing too much on risk and risk mitigation will simply slow your ability to respond quickly to changing market demands. The arithmetic of pricing is covered in depth within this course to enable you to calculate the impact of discounts and markdowns.

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3. Retail Merchandise Planning

With the retail industry ever expanding and competition between local and international retailers, it is apparent in recent years the importance of merchandise planning. Retailers can no longer depend on random purchases in the hope that they will sell. There are processes and solutions in order to reduce and eliminate excess inventory and maximise profit.

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4. Retail Financial Excellence For Store Managers

The day to day management of the stores is a critical factor in the successful management within any retail business. Stock represents a large percentage of the working capital in many organisations. Minimising loss or damage makes a significant contribution to the overall profitability of the business and is a key part of the stores function. This along with many other operational factors needs to be tracked on a day to day basis.

The Financial Excellence For Retail Store Manager’s course will engage learners with methodologies, principles and practices of good store financial management to build confidence, knowledge and awareness of the different facets of cost in a store. It will assist store management in acquiring the knowledge necessary to effectively plan stores and improve efficiency. It deep dives into understanding and analysing store financials and taking appropriate measures to meet targets. Learners will learn through working examples and solutions so that they can be confident to do it themselves.

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5. Retail Fact Based Negotiation

Retail Professionals are constantly in a stage of negotiation, not just with customers, but also internal and external stakeholders, but more importantly with critical suppliers. Negotiation is an essential skill when it comes to drawing up contracts and building key long term relationships. The success of a negotiation is not just through potent convincing power but through managing the process, expectations and the perceptions of all parties in the negotiation.

This course will introduce methods and tactics used by professional negotiators. It focuses on careful analysis and good process management to arrive at the best possible deal for both sides in a negotiation, an agreement that is enthusiastically implemented and accepted. Negotiation is not just the gift of the gab, but it holds a great accountability to putting together an offer that is seen as a win/win and achieves closure without damaging the on – going relationship between the parties concerned.

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6. Retail Supply Chain Excellence

Having an efficient supply chain means that it needs to be measured and monitored at all times.

Supply Chain Management (SCM) requires management of complex dependencies between teams, departments and partner companies across international boundaries. It is a natural area for formulas and metrics. Retail Supply Chain Metrics may include measurements for procurement, production, transportation, inventory, warehousing, material handling, packaging and customer service.

There are many metrics that can be used to score Retail Supply Chain Management performance.

This is one of the must have skills for any aspiring retail professional of the 21st century as Supply Chain is the game changer for any retailer

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Who should do the Mini Masters In Retail?

The Mini Masters in Retail  is specifically targeted towards beginners within a retail organisation and/or retail entrepreneurs/professionals and consultants. It is ideally suited to:

  • Buyer’s Assistants
  • Allocators
  • Replenishment Analysts
  • Buying and Merchandising Managers
  • Buyers
  • Assistant Buyers
  • Merchandise Planning Managers
  • Merchandise Planners
  • Assistant Merchandise Planners
  • Store Managers
  • Assistant Store Managers
  • New Fashion designers
  • Retail store personnel
  • Retail Warehouse personnel
  • Retail CEO’s
  • Retail Business Owners
  • Retail Entrepreneurs/Professionals/Consultants