Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Kinney Drugs inc BUSS100 PP

224 views

Published on

  • Login to see the comments

  • Be the first to like this

Kinney Drugs inc BUSS100 PP

  1. 1. KINNEY DRUGS INC. “EXPERIENCE THE DIFFERENCE” Emily A. Sudol Portfolio Project BUSS100: Business Principles Instructor Latosha Tate
  2. 2. HISTORY Was founded by Burt Kinney Graduated Albany College of Pharmacy in 1901 The first store opened in 1903 First store in Vermont opens in 1970 Becomes employee owned in 2008 (Syracuse, 2014)(Kinney, 2014)
  3. 3. COMPETITION: Kinney’s competition Rite Aid Walgreens CVS (Wesleyan, 2012) (Cpnwz, 2013) (Evanstonedge,
  4. 4. HOW KINNEY’S STANDS OUT Excellence in customer service Put’s the needs of their customers and employees above anything else Strong supporter of local communities Donates to Local food banks Local schools Toy’s for Tots Children’s Miracle Network
  5. 5. MANAGEMENT: Comprised of a board of directors, corporate officers, and the many managers and supervisors running the stores There are also pharmacy managers, they are in charge of only the pharmacy and the technicians that work with them They also have their own managers that come from corporate to check on the pharmacies The managers at the store levels hire the employees and run things at the stores They have managers themselves that come from corporate to check on the stores a few times a month (Kinney, 2014)
  6. 6. PRODUCTION: There are 99 stores located in central and northern New York and also in Vermont The headquarters for Kinney’s is located in Gouvernuer, NY That is also where the warehouse is located The warehouse holds all the supplies and products Kinney’s sells
  7. 7. PRODUCTION CONT. Some of the supplies for the pharmacy comes from the warehouse, mostly they get supplies from central fill located in Buffalo Some of the supplies for the pharmacy comes from the warehouse, mostly they get supplies from central fill located in Buffalo Some filled right in the stores The bottles, caps and other supplies for the pharmacy come on truck once a week
  8. 8. HUMAN RESOURCES: Rich McNulty is the Vice President of Human Resources at Kinney Drugs He works mostly in the corporate offices The store managers are also trained to be an extension of the human resources department The managers handle the hiring and firing, and also do the reviews with the employees If there were any major issues then the corporate offices would be brought in to handle it alongside the managers (Kinney, 2014)
  9. 9. MARKETING: Kinney’s many techniques for marketing and advertising  Weekly sales flyers  TV ads  Monthly Value card Ads  Free home delivery  Milk club Price buster sales
  10. 10. MARKETING, CONT.…  The value card helps saves customers money on select items in the stores  They also get 10% off Kinney Brand products everyday  There are monthly Value card ads on select items throughout the store.  Sales on key popular items to draw in customers to stores.
  11. 11. FINANCE: They forecast by using SKU numbers to determine just in time sales needs to help keep inventory at a lower level. This also allows them to determine what funds they will need short term. They look at salary costs and operating expenses per store to determine short term needs. The look at expansion and renovation plans to determine long term financial needs. Needs of future and current retirees expenses (Kinney, 2013)
  12. 12. FINANCE, CON’T... Short term financing Bank line of credit Trade credit, buy on terms such as 2/10; net 30 Sale of stock (Kinney, 2013)
  13. 13. FINANCE, CON’T… Long term financing Long term bank notes Investment in expansion Treasury stocks Bonds Promissory notes to former stockholders (Kinney, 2013)
  14. 14. REFERENCES: Cpnwz. (2013). Rite –Aid logo. Retrieved from http://cdn3.cpnwz.us/wp-content/uploads/2013/06/rite-aid-logo- 300x2531.jpg Kinney. (2013). Kinney Drugs, 2013 Annual Report. Kinney. (2014). Kinney Drugs History. Retrieved from https://secure.kinneydrugs.com/pages/history.php Kinney. (2014). Kinney Drugs Management. Retrieved from https://secure.kinneydrugs.com/pages/management.php
  15. 15. REFERENCES, Syracuse. (2014). Drug Store Sets Opening Date. Retrieved from http://www.syracuse.com/news/index.ssf/2014/12/new_cny_drugstore_sets _opening_date.html Walgreens. (2014). Walgreens. Retrieved from http://www.walgreens.com/default.jsp Wesleyan. (2012). CVS. Retrieved from http://transportation.wsa.wesleyan.edu/cvs/

×