Supermarket Development Program: Phase 1 Scope Of Services:
The Consultant shall provide specific supermarket consultancy services as agreed upon between the parties.
Retail Management Key (RMK)
A strategic framework ensuring alignment of store operations with business goals, focusing on customer satisfaction, sales targets, and operational efficiency.
a) Floor Walk
Regular walkthroughs of the store to assess visual merchandising, stock levels, and team performance, ensuring the store is customer-ready.
b) Data Driven Merchandising
Utilizing sales data, trends, and analytics to optimize product placement and inventory for maximizing revenue and meeting customer demand.
c) Consumer Driven Product Mix
Tailoring the product assortment based on consumer preferences and buying behaviour to enhance sales and customer satisfaction.
d) Daily Briefing
A short meeting to align the team on daily goals, priorities, promotions, and updates, ensuring consistent service excellence
Role Of NBA: NBA will guide the Store Team on how to efficiently carry out the identified processes and tasks. NBA will provide advice, mentorship, and expertise in executing these processes.
NBA will continuously review the tasks and processes executed by the Store Team. This review process will include regular assessments and feedback to identify areas of improvement and enhance overall execution and performance.
SOP’s & KRA’s
Standard Operating Procedures (SOPs) provide clear guidelines for consistent execution of tasks, while Key Result Areas (KRAs) define individual and team performance objectives to align with organizational goals.
Role Of NBA: NBA will help & guide on preparation of SOP’s & KRA’s for their particular stores. NBA will take charge of guiding the execution of SOPs and KRAs to ensure perfection. SOPs and KRAs will be regularly reviewed, and necessary improvements or adjustments will be made to meet the evolving requirements .
EDLP - Branding, Marketing
This strategy focuses on offering consistently low prices rather than relying on temporary discounts. It emphasizes value and builds customer trust through transparent, stable pricing.
a) Margins & Pricing Strategies
This service involves optimizing profit margins through strategic pricing models, considering factors like demand elasticity, competition, and production costs to maximize profitability.
b) Offers, Schemes & Promotions
This service designs targeted offers, promotional schemes, and discounts to drive customer engagement and boost sales, often tailored to specific market segments or seasonal demand.
Role Of NBA: NBA will develop and implement business policies tailored specifically for Store to maximize profitability. NBA will analyse data to customize schemes and policies aimed at enhancing customer satisfaction. Additionally, NBA will conduct continuous reviews of these policies and schemes, making necessary adjustments as required.
MIS Reports, Data Analysis, Accounts & Finance
This service involves generating detailed Management Information System (MIS) reports and analyzing data to provide actionable insights, helping businesses make informed decisions and improve performance.
Role Of NBA: Quaterly MIS meets will be conducted by NBA to discuss the reports containing data related to sales, purchase, expenditure, finance, etc. with the management.
NBA will provide the insights of retail industry within India level to provide the input to the management to grow exponentially. In this MIS meets a detailed discussion will be done with the management regarding financial statements such as profit & loss, balance sheet & ratio analysis to understand the financial position and profitability of the
organisation. `
Benchmarking
This service involves comparing a company’s performance, products, or processes against industry standards or competitors to identify areas for improvement and achieve competitive advantage
Role Of NBA: NBA will assist Store in benchmarking the organization to meet industry standards and targets. The NBA team will be regularly involved in this process to ensure the achievement of broader objectives.
Inventory Management
This service involves overseeing the tracking, organization, and control of stock levels, ensuring products are available to meet demand while minimizing excess inventory and associated costs.
a) Daily Stock Count
includes the daily process of counting inventory to ensure that stock levels are accurate, discrepancies are identified, and inventory records remain up-to-date.
b) SID – Stock in Days Category Wise
calculates the number of days inventory is expected to last by category, helping businesses manage stock turnover and optimize inventory levels based on product demand.
c) Inwards & GRN
ensures accurate recording of stock arrivals and verification of goods against purchase orders, documenting any discrepancies through the GRN process for inventory accuracy.
d) Loss Prevention Department
This department is responsible for identifying and preventing inventory loss due to theft, damage, or administrative errors, ensuring the protection of assets and reducing financial losses.
e) Buyers Process – Purchase Order
involves the creation and management of purchase orders by buyers, ensuring that inventory levels are replenished according to demand forecasts and business needs.
f) Availability Top 1000 Skus
This service ensures that the most popular and high-demand products (Top 1000 SKUs) are consistently available in stock, reducing the risk of stockouts and improving customer satisfaction
g) Expiry & Damages
involves monitoring and managing product expiry dates and damages to minimize waste, ensure product quality, and maximize sales of perishable or time-sensitive inventory.
Role Of NBA:
1) NBA will provide detailed guidance on how inventory management should be
conducted.
2) NBA will review the procedures to assess their execution and effectiveness.
3) NBA will take necessary steps to address any flaws and implement measures to improve the
procedures, ensuring perfection in inventory management.
Query Resolution & Guidance
NBA will guide you and provide you with suggestions on your doubts & queries and resolve all your industry-related issues to the best of our ability.
Visits to the site
We will visit in the first month of Post Consultation to analyse the store’s existing health and areas of improvement. We will accordingly finalize the next immediate steps to incorporate to increase the sales and better management of the store. Our next visits happen every quarter during the post-consultation service to check the ground-level implementations and clarify all your doubts & difficulties.