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Ethical and Legal Issues in Retailing

&

Inventory Management

Presented By:Vijay

Dhruv (111)

Saurav (118)

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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.

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Codes Of Ethics:

Explicit code: Written policy that specifieswhat is ethical and unethical behavior.

Implicit code: Unwritten but well understoodset of rules/standards of moralresponsibilities.

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Dealing with Ethical Issues:

Awareness of Ethical issues.

Moral Philosophy, Intentions and Behaviour.

The Organizational Environment.

Company Ethics Programs.

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2 worlds largest retail chains made

ethics last week

Former marketing communications chiefJulie Roehm ofWal-

Mart fired due to by accepting discounts and gifts from

vendors.

Coles Group, Australia adopted an ethical sourcing code thatit says will protect workers who supply the chains footwear

and apparel.

Mainly focuses on China

Workplace safety. Living conditions of factory workers.

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Ethical Issues In Retailing:

Consumer Fraud.

Supplier Labour Practices.

Slotting Allowance.

Use of Customer Information.

Ecological Considerations.

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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

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Advantages Of Ethics IN Retailing:

Higher revenues.

Improved Brand, Business Awareness andRecognition.

Better employee Motivation and Recruitment.

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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

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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

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How To Manage Inventory?

Point-of-sale terminals These are check-out

points that automatically update a companys

inventory levels.

Job costing and inventory systems Another

automatic system that updates computerized

levels of inventory.

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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 ormedia disk.

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Why Inventory Management?

To retain his existing customers.

To attract potential buyers.

Retailer should have sufficient stock to offerduring the lead time.

Its helps in at the time of uncontrollable

situations like transport strikes, curfews, crises

etc.

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