DAILY SALES REPORT
Requisition is planned based on the sales of the said product.product. The sales are tracked either by the daily sales report (DSR) or the sales withdrawal report (SWR).
It is very essential for the employees to understand and analyse the sales report as it gives information of all the activities related to merchandise and sales. A common DSR which is generated will give information on the store sale, customer entry, conversion, number of products sold, average value of product sold, various category sales, in depth report of products sold SKU-wise, style wise, colour wise and size wise. It gives a detail report of the product line in width as well as in depth. This report helps the sales team to analyse the sales and do the requisition of stocks.
Based on this report and also after analysing the stock position physically, stocks are ordered from the warehouse. The fast moving stocks based on size, content etc.running sizes are ordered a bit more in numbers.
For the apparel category tThe standard ratio as per retail norms is to indentplace two pieces of small size, three each of medium and large size and two pieces of ex-large size and one piece of double ex-large size in apparels. This is as per requirements in a lifestyle format store or a departmental store. Most of the software is equipped to generate the stock withdrawal report which shows the number of pieces sold SKU wise and how many of the same have to be replenished. Bu.t Iit is better to do the requisition same manually as it helps in understanding your products better and at the same time keeps one updated on the sales and movement of stocks within the department.
Focus should be to keep the departments within the store neat and tidy, to make sure of availability of all the stocks and make a customer feel very comfortable to shop inside the store. Apart from this they are also expected to receive the new stocks or the requested stock from the warehouse to their section, price them if required and also to security tag them on the floor. They are also expected to display the signage and shelf talkers required to be placed on the fixtures with respect to the merchandise placed on them. They also need to ensure that all the merchandise has the required barcode on them. A good understanding of the customer’s behaviour is expected from them, analyse the sales and to achieve targets provided, analyse sales of merchandise as to which line is selling and which line is not selling and come to a conclusion. It’s also the moral responsibility of the staffs to check if all the spot lights are working should check for expiry dates on fire extinguishers at regular intervals, if the lifts and escalators are functional, if the speakers in their section are performing well or not, etc. It is the duty of the floor staffs to inform immediately to the concerned team if any of the same is not working or performing. The security in terms of inventory and store assets is also the responsibility of this team. Hence they are also required to conduct global counts, cycle count or stock take as per the requirement and need of the store. Global count is the process where each and every stock keeping unit (SKU) is counted every day at a global level. In a cycle count a particular departments within a store are selected and products from this department are counted in cycles. Stock take is an exercise where the entire stocks within the store are counted physically. These activities are very essential to know the total stock quantity within the store and to understand the shrinkage value of the store. Basically stock take is conducted to tally the physical count and system count. Hence this activity needs to be conducted with cautious and in a planned and systematic order. Stock takes are conducted yearly, half yearly or quarterly depending on the products sold and the size of the store. Apart from all these activities the frontline sales staffs are also required to man the trial rooms in their respective departments. We will see the same in detail separately. These are the various activities which the frontline team need to do over and above selling of products to the customers and achieving the required sales. Because the frontline team is the pillar and face of the organisation they are the brand ambassadors. They therefore need to have a good understanding of retail etiquettes and grooming standards