Ethical And Legal Issues In Retailing 5y5f2h

Ethical and Legal Issues in Retailing & Inventory Management

Presented By: Vijay Dhruv (111) Saurav (118)

What Are Ethics: • It is the behavior that a business adheres to in its daily dealings with the world. • Written and Unwritten policy that specifies whai is good or bad behaviour.

Codes Of Ethics: • Explicit code: Written policy that specifies what is ethical and unethical behavior. • Implicit code: Unwritten but well understood set of rules/standards of moral responsibilities.

Dealing with Ethical Issues: • Awareness of Ethical issues. • Moral Philosophy, Intentions and Behaviour.

• The Organizational Environment. • Company Ethics Programs.

2 world’s largest retail chains made ethics last week… • Former marketing communications chief Julie Roehm of WalMart fired due to by accepting discounts and gifts from vendors. • Coles Group, Australia adopted an ethical sourcing code that it says will protect workers who supply the chain’s footwear and apparel. – Mainly focuses on China – Workplace safety. – Living conditions of factory workers.

Ethical Issues In Retailing: 

Consumer Fraud.

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Supplier Labour Practices.

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Slotting Allowance.

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Use of Customer Information.

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Ecological Considerations.

Legal Framework:  The Delhi Shops & Establishment Act, 1954  The Delhi Sales Tax Act  The Consumer Protection Act,1986  Service Tax Provision s  Labour Laws  Competition Act

Advantages Of Ethics IN Retailing: • Higher revenues. • Improved Brand, Business Awareness and Recognition. • Better employee Motivation and Recruitment.

Inventory Management • It is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. • It helps in controlling the costs associated with the inventory

What Is Retail Inventory Management? • It is the process and methods used to keep track of the stock in a retail business. • It controls everything from ordering, shipping, receiving, tracking inventory, retail turn-over, and storage. • Retail inventory management can help keep a business’ profits at a steady margin as well as reducing theft and loss of inventory

How To Manage Inventory? • Point-of-sale terminals – These are check-out points that automatically update a company’s inventory levels. • Job costing and inventory systems – Another automatic system that updates computerized levels of inventory.

Contd. • Barcodes and readers – Every product these days contains a barcode with the items information. Barcodes makes it easy and quick track stock. • Electronic Supplier Product catalogs – This system can update inventory levels automatically through either the internet or media disk.

Why Inventory Management? • To retain his existing customers. • To attract potential buyers. • Retailer should have sufficient stock to offer during the “lead time”. • Its helps in at the time of uncontrollable situations like transport strikes, curfews, crises etc.