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Demystifying Retail: The Four Golden Rules
The book is for those who are interested in making their retail business more effective and efficient.
I What makes a successful Retailer?
Product has been key to any retailer’s success. What we sell, the speed at which we sell them, what remains in stock, what more gets introduced and what gets removed, is the key to retail success. If everything else is table stakes, product is the differentiator. The art of product management needs to be backed by the science of inventory management for one to succeed in retailing.
II What retailers can learn from young Aditya?
This book is written in the form of a business novel, (which deals with the turnaround story of a jewelry retail chain) in evincing interest in the readers to understand the principles and processes in making retail operations more efficient and effective.
Aditya, a young graduate in management from Harvard Business School received an unusual challenge from his father Easwaramurthy, to double the sales revenue and profit of the family’s chain of Jewelry stores in a time period of 24 months, with the available/ existing inventory. As per the will crafted by Easwaramurthy, all the assets of the company (an amount close to Rs 500 Crore) will go to a charitable cause (for Improving the life style of Karigars (Goldsmiths) and Employees of the company) if Aditya does not achieve the target in 24 months’ time,. Aditya will receive Rs 100 Lacs and a house for him to restart his life.
The twenty-one chapters detailing the turnaround story of Aditya’s jewelry retail business should provide ample learning opportunities for any retail business heads, retail managers, category managers, merchandisers, franchisees and retail employees at large.
III What are the four simple golden rules followed by Aditya?
The Four Golden Rules
§Identifying fast-movers and ensuring availability of these SKUs (Stock Keeping Units)
§Processes for the right planogram and right processes for replenishment of Non-Fast movers
§Processes for New Product Introduction
§Processes for managing aged stock
These Golden Rules, we believe, can be used as a basis for creating the right processes for any category of organised retail chain and traditional large retail business formats. in enabling the highest possible ROI (Return on Investment) to business.
I What makes a successful Retailer?
Product has been key to any retailer’s success. What we sell, the speed at which we sell them, what remains in stock, what more gets introduced and what gets removed, is the key to retail success. If everything else is table stakes, product is the differentiator. The art of product management needs to be backed by the science of inventory management for one to succeed in retailing.
II What retailers can learn from young Aditya?
This book is written in the form of a business novel, (which deals with the turnaround story of a jewelry retail chain) in evincing interest in the readers to understand the principles and processes in making retail operations more efficient and effective.
Aditya, a young graduate in management from Harvard Business School received an unusual challenge from his father Easwaramurthy, to double the sales revenue and profit of the family’s chain of Jewelry stores in a time period of 24 months, with the available/ existing inventory. As per the will crafted by Easwaramurthy, all the assets of the company (an amount close to Rs 500 Crore) will go to a charitable cause (for Improving the life style of Karigars (Goldsmiths) and Employees of the company) if Aditya does not achieve the target in 24 months’ time,. Aditya will receive Rs 100 Lacs and a house for him to restart his life.
The twenty-one chapters detailing the turnaround story of Aditya’s jewelry retail business should provide ample learning opportunities for any retail business heads, retail managers, category managers, merchandisers, franchisees and retail employees at large.
III What are the four simple golden rules followed by Aditya?
The Four Golden Rules
§Identifying fast-movers and ensuring availability of these SKUs (Stock Keeping Units)
§Processes for the right planogram and right processes for replenishment of Non-Fast movers
§Processes for New Product Introduction
§Processes for managing aged stock
These Golden Rules, we believe, can be used as a basis for creating the right processes for any category of organised retail chain and traditional large retail business formats. in enabling the highest possible ROI (Return on Investment) to business.
400 pages, Kindle Edition
Published March 3, 2022
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Displaying 1 of 1 review
July 23, 2022
A sureshot read for every Jewellery Retailer
An extremely valuable book to unwind the challenges related to inventory management that most of the jewellery retailers face.
It talks about the 4 Golden Rules, when applied will unlock huge value from keeping the right stock to increasing stock turns which eventually is sure to boost revenues in lesser time.
Not only Inventory Management but the book also talks about how business goals can be achieved in a given time with the right leadership, attitude, right team and mentorship. It's actually a gold mine for every jeweller.
Kudos to Mr Natarajan and Mr Prabhakar for such an insightful book and adding value to our jewellery industry.
Regards,
Aditya Chawla
Punjab Jewellers and Sons, Lucknow.
An extremely valuable book to unwind the challenges related to inventory management that most of the jewellery retailers face.
It talks about the 4 Golden Rules, when applied will unlock huge value from keeping the right stock to increasing stock turns which eventually is sure to boost revenues in lesser time.
Not only Inventory Management but the book also talks about how business goals can be achieved in a given time with the right leadership, attitude, right team and mentorship. It's actually a gold mine for every jeweller.
Kudos to Mr Natarajan and Mr Prabhakar for such an insightful book and adding value to our jewellery industry.
Regards,
Aditya Chawla
Punjab Jewellers and Sons, Lucknow.
Displaying 1 of 1 review