Ch08 Setting Performance Objectives

.docx

School

Fanshawe College *

*We aren’t endorsed by this school

Course

3058

Subject

Marketing

Date

Apr 3, 2024

Type

docx

Pages

2

Uploaded by AmbassadorHippopotamusMaster1117

Report
Completed by Kien Thanh Ly (1140036) SETTING PERFORMANCE OBJECTIVES Name a retailer of products and/or services – Sobeys (Grocery Store) – Store Operation Measures Identify three areas of the organization that require performance objectives (darker title area below). For each of the areas identified, set out appropriate performance objectives. Output Measure Input Measure Productivity( output/input) Measure • Net Sales: Increase net sales growth from offering more items on weekly flyers or better deals compared to other superstores such as Metro, Loblaw. Implement sales on items that not many people are willing to ask for a return such as eggs, milk, powder, produce goods, etc. •Growth in sales: Improve gross sales is also similar to increasing net sales method above. However, it would be better if Sobeys create more markdowns for unsold baked goods, produce, groceries instead of trying to maintain optimal food quality to serve the public. • Expense for utilities: Implement sensor lights which automatically turn off when no longer detect activities, this will allow the store to minimize operating electricity costs • Number of sales associates: Tracking the total number of employees in each store. This metric can deliver insights into the company’s operations including labor costs, and potential cutting-corners strategy. • Inventory Shrinkage: Minimize shrinkage with using First-In First- out method when perform merchandising and strictly enforce this method. Hire loss prevention from third party to avoid shop lifting and thus reduce inventory shrinkage. •Utility expense as a percentage of sales: Again, utility expense should be minimized down to about 1/10 of the total operating expenses by applying sensor lights, automatic water dispensing sink in employee washroom etc. This template was developed by Soph Katsademas and is provided as an open educational resource under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC-BY-NC-SA 4.0) License.
References Levy, M, Weitz, B. , Grewal, D. , Madore, M. (2023). Retailing Management (7 th Edition). McGraw Hill. https://prod.reader-ui.prod.mheducation.com/epub/sn_7ea02/data-uuid-2104f4b4afe1408493a4abc369223fc7 Katsademas, S. (n.d). Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC-BY-NC-SA 4.0) License.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help