By: Brenna, Grace, Amaleah, Sam, and Lauren.
Product and service planning
- Have certain rules to follow on how to set up and design their stores.
- Have certain rules on what services to provide.
- Buying the products to put in store.
- Contact goods producers for what they want to purchase for their stores.
- Figuring out how much they are going to spend on a certain category of items for their store.
- Keeping track of how much money the have, how much money they make, and how much money they are going to spend.
- Have their own trucks.
- Have their own distribution centers.
- Make an agreement with producers on how much they are going to sell their items.
- They have the price match guarantee.
- Even though they have the price match guarantee, they can cause the businesses to fail because of how low the prices are.
- 5 step risk management program.
- Risk identification
- Risk mitigation
- Action planning
- Performance metrics
- Shareholder value/ return on investment
- Keep files of their sales/ incomes and expenses.
- They decide from ^ what items they should keep or what items they have to give up.