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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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