Maintain FIFO Consistency in Food Bazaar

PROJECT REPORT On Maintain FIFO Consistently in food bazaar & Aged slow moving product At By Ch. Vinod kumar Post Graduate diploma in management RATAN GLOBAL BUSINESS SCHOOL Declaration I hereby declare that the Project report ‘’ MAINTAIN FIFO CONSISTENTLY IN FOOD BAZAAR AND OVER COME WITH SLOW MOVING PRODUCTS IN STORE’’ is submitted by me in partial fulfillment for the award degree ‘’Post Graduate Diploma in Management’’ from Autonomous university and record of bonafide work carried out by me. The result embodies in this project have not been submitted to any other university or institute for the ward of any diploma or degree. Name: Ch. Vinod kumar Roll No. 010-012-041Signature ACKNOWLEDGEMENT A Project usually falls short of its expectation unless guided by the right person at the right time. Success of a project is an outcome of sincere efforts, channeled in the right direction, efficient supervision and the most valuable professional guidance. This project would not have been completed without the direct and indirect help and guidance of such luminaries. They provide me with the necessary recourses and atmosphere conductive for healthy learning and training. At the outset I would like to take this opportunity to gratefully acknowledge the very kind and patient guidance I have received from my project guide Mr. Ravi Kiran HR Manager Big Bazaar RTC-X Road Hyderabad, Without his critical evaluation and suggestion at every stage of the project, this report could not have reached its present form. In addition, my internal guide Prof., Faculty has critically evaluated my each step in developing this project report. I would like to extend my gratitude towards, Director, Dr. B. Ratan Reddy for her technical and moral support required for the realization of this project report. Lastly, I would like to thank all the members of BIG BAZAAR and my colleagues who gave me fruitful information to finish my project. PREFACE Winter Training is business organization in fuse among student a sense of critical analysis of the real managerial situation to which they are exposed. This gins them an opportunity to apply their conceptual theoretical & imaginative skills in a real life situations and to evaluate the results there of. BIG BAZAAR is a name renowned name in Retail. BIG BAZAAR is now a brand image in private retail sector. While my ONE month project, I was at BIG BAZAAR to find potential of BIG BAZAAR on the presence of other retail Stores. Practical training through experts of BIG BAZAAR gave me actual input to fulfill my real aim. This report is the written account of what I learnt experienced during my training. I wish those going through it will not only find it real but also get useful information. EXECUTIVE SUMMARY Title of the project- “Maintain FIFO Consistently in food bazaar & aged slow moving product and action plain to liquidate it ” Different objective behind conducting this project- ,[object Object]

Method using for sales at BIG BAZAAR.

Listing of the product preferences as per the expiry and batch no. at

Slow sales of products at BIG BAZAAR.❋ INTRODUCTION The project was carried out for understanding the movement of the product at BIG BAZAAR and customer behavior regarding different product at BIG BAZAAR RTC X-Road Brach .BIG BAZAAR was established in the year 2001, they are old player in RETAIL sector. The BIG BAZAAR follows values such as – Indian ness, Leadership, Respect and Humility, Valuing and Nurturing Relationships, Simplicity and Positivity, Adaptability. This research helps us in finding out how the products are maintain in store by using FIFO Method (First in First out) and also the slow moving products in store and action plain to liquidate it and awareness by promotion and also identifying the market potential of BIG BAZAAR. Slogan: Isse sasta aur accha kahin nahi! INDEX Chapter: I Synopsis ,[object Object]

LimitationChapter: II ,[object Object]

Challenges facing the Indian Organized Retail SectorChapter: III ,[object Object]

Mission, Vision, Values, Milestone, Awards

Different Formats.Chapter: IV ,[object Object]

Sales Record Of Sabse Sasta 5 DinChapter: V ,[object Object],Chapter: VI ,[object Object],Chapter: VII ,[object Object],Chapter: VIII ,[object Object],SYNOPSIS Maintain FIFO consistency in Food Bazaar is the most crucial task of any business organization and lies at the core of the long run survival. Retail sectors hold its prime motive in maintaining Fifo method in promoting the sales of different products and services. This method use to increases the sales and also decrease the rate of damages or expiry products. For example, products already in the self and a new consignment purchases, it was arranged in self but it was arranged in front and the old stock pushed back so customer always prefer to take from frontier, so in such a ways the percentage of expiry or damages has increases in store. OBJECTIVE OF THE PROJECT ,[object Object]

To understand the need of the foster effective sales strategy in retail sector.

To measure the effectiveness of fifo method strategy at Bid bazaar.NEED OF THE ROJECT This project is felt necessary on the basic following variables: ,[object Object]

FIFO method strategy is the crucial aspect of revenue optimization.

Retail sector does not focus on the specific method. Rather it aims at minimizing the expiry percentage.

Retail sector has been given for completion where FIFO method should be the core objective.SCOPE OF THE PROJECT This project offers real time scope on the basis of following merits: ,[object Object]

This project also enables the respondents to know about the FIFO strategy and various methods of agenda.

This project is constructed with family larger sample site.

This project helps to understand the present strategy and how to overcome and increase the flow of products in store.LIMITATION OF THE PROJECT ,[object Object]

No quantitative assessment is made other than of plotting the opinion of respondent in a graphical manner.

No forecasting is made on the basis of exiting methodology of maintaining FIFO consistency in Big Bazaar. RETAIL INDUSTRY IN INDIA India has one of the largest numbers of retail outlets in the world. Of the 12 million retail outlets present in the country, nearly 5 million sell food and related products. Thought the market has been dominated by unorganized players, the entry of domestic and international organized players is set to change the scenario. Organized retail segment has been growing at a blistering pace, exceeding all previous estimates. According to a study by Deloitte Haskins and Sells, organized retail has increased its share from 5 percent of total retail sales in 2006 to 8 per cent in 2007. The fastest growing segments have been the whole sale cash and carry stores (150 percent) followed by supermarkets (100 percent) and hypermarkets (75-80 per cent). Further, it estimates the organized segment to account for 25 per cent of the total sales by 2011. India retail industry is the largest industry in India, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in India is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favorable demographic patterns. It is expected that by 2016 modern retail industry in India will be worth US$ 175- 200 billion. India retail industry is one of the fastest growing industries with revenue expected in 2007 to amount US$ 320 billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is expected in the industry of retail in India by growth in consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in India will amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion. Shopping in India has witnessed a revolution with the change in the consumer buying behavior and the whole format of shopping also altering. Industry of retail in India which has become modern can be seen from the fact that there are multi- stored malls, huge shopping centers, and sprawling complexes which offer food, shopping, and entertainment all under the same roof. India retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. Indian retailers preferred means of expansion is to expand to other regions and to increase the number of their outlets in a city. India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort. It is expected that India may have 600 new retail outlets till 2010. Retail space Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expanding at a rapid pace. Mall space, from a meager one million square feet in 2002, is expected to touch 40 million square feet by end-2007 and an estimated 60 million square feet by end2008, Says Jones Lang LaSalle's Third annual Retailer Sentiment Survey-Asia. Alongside, Indian cities are witnessing a paradigm shift from traditional forms of retailing into a modern organized sector. A report by Images Retail estimates the number of operational malls to more than double to over 412 with 205 million square feet by 2010 and further 715 malls by 2015, on the back of major retail developments even in tier II and tier III cities in India. Challenges facing the Indian Organized Retail sector The challenges facing the Indian organized retail sector are various and these are stopping the Indian retail industry from reaching its full potential. The behavior pattern of the Indian consumer has undergone a major change. This has happened for the Indian consumer is earning more now, western influences, women working force is increasing, desire for luxury items and better quality. He now wants to eat, shop, and get entertained under the same roof. All these have lead the Indian organized retail sector to give more in order to satisfy the Indian customer. The biggest challenge facing the Indian organized retail sector is the lack of retail space. With real estate prices escalating due to increase in demand from the Indian organized retail sector, it is posing a challenge to its growth. With Indian retailers having to shell out more for retail space it is effecting there overall profitability in retail. Trained manpower shortage is a challenge facing the organized retail sector in India. The Indian retailers have difficulty in finding trained person and also have to pay more in order to retain them. This again brings down the Indian retailers profit levels. The Indian government has allowed 51% foreign direct investment (FDI) in the India retail sector to one brand shops only. This has made the entry of global retail giants to organized retail sector in India difficult. This is a challenge being faced by the Indian organized retail sector. But the global retail giants like Tesco, Wal-Mart, and Metro AG are entering the organized retail sector in India indirectly through franchisee agreement and cash and carry wholesale trading. Many Indian companies are also entering the Indian organized retail sector like Reliance Industries Limited, Pantaloons, and Bharti Telecoms. But they are facing stiff competition from these global retail giants. As a result discounting is becoming an accepted practice. quot;
COMPANY INTRODUCTIONquot;
 Future Group Future Group is India’s leading business group that caters to the entire Indian consumption space. Led by Mr. Kishore Biyani, the Future Group operates through six verticals: operates through six verticals: Retail, Capital, Brands, Space, Media and Logistics. Apart from Pantaloon Retail, the group’s presence in the retail space is complemented by group companies, Indus League Clothing, which owns leading apparel brands like Indigo Nation, Scullers and Urban Yoga, and Galaxy Entertainment Limited that operates Bolwing Co, Sports Bar and Brew Bar , The group’s joint venture partners include French retailer ETAM group, US-based stationary products retailer, Staples and UK-based Lee Cooper. Group Company, Planet Retail, owns and operates the franchisee of international brands like Marks & Spencer, Next, Debenhams and Guess in India. The group’s Indian joint venture partners include, Manipal Healthcare, Talwalkar’s, Blue Foods and Liberty Shoes. Future Capital Holdings, the group’s financial arm, focuses on asset management and consumer credit. It manages assets worth over $1 billion that are being invested in developing retail real estate and consumer-related brands and hotels. The group has launched a consumer credit and financial supermarket format, Future Money and soon plans to offer insurance products through a joint venture with Italian insurance major, Generali. The group is currently developing over 50 malls and consumption centers across the country and has formed a joint venture company focusing on mall management with Singapore-based Capital and, one of Asia’s largest property companies Future Group’s vision is to, “deliver Everything, Everywhere, Every time to Every Indian Consumer in the most profitable manner.” The group considers ‘Indianness’ as a core value and its corporate credo is – Rewrite rules, Retain values. “Future” – the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn our ability to evolve. The motto of Future Group, to not to wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, it will effect socio-economic development for their customers, employees, shareholders, associates and partners. Their customers will not just get what they need, but also get them where, how and when they need. They are not just posting satisfactory results, they are writing success stories. Future Group Conglomerate Future Group has six business pillars: Future Retail All the retail lines of business like food fashion and home will come under this vertical. Future Brand Custodian of all the present and future brands that are either developed or acquired by the group. Future Space Will have a presence in property and mall management. Future Capital Will provide consumer credit and micro finance services, including marketing of MFs and insurance policies, and management of real estate and consumer fund. Future Media Will focus on revenue generation through effective selling of retail media spaces. Future Logistic To drive efficiencies across businesses via better storage and distribution. GROUP VISION: Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner. GROUP MISSION: Future Group shares the vision and belief that their customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. They will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments - for classes and for masses. They shall infuse Indian brands with confidence and renewed ambition. They shall be efficient, cost- conscious and committed to quality in whatever they do. They shall ensure that their positive attitude, sincerity, humility and united determination shall be the driving force to make them successful. CORE VALUES:  Indian ness: Confidence in themselves.  Leadership: To be a leader, both in thought and business.  Respect and Humility: To respect every individual and be humble in their conduct.  Introspection: Leading to purposeful thinking.  Openness: To be open and receptive to new ideas, knowledge and information.  Valuing and Nurturing Relationships: To build long-term relationships.  Simplicity and Positivity: Simplicity and positivity in their thought, business and action.  Adaptability: To be flexible and adaptable, to meet challenges.  Flow: To respect and understand the universal laws of nature. Major Milestones 1987 Company incorporated as Menz Wear Private Limited. Launch of Pantaloons trouser, India’s first formal trouser brand. 1991 Launch of BARE, the Indian jeans brand. 1992 Initial public offer (IPO) was made in the month of May. 1994 The Pantaloon Shoppe – exclusive men’s wear store in franchisee format launched across the nation. The company starts the distribution of branded garments through multi-brand retail outlets across the nation. 1995 John Miller – Formal shirt brand launched. 1997 Pantaloons – India’s family store launched in Kolkata. 2001 Big Bazaar, ‘Is se sasta aur accha kahi nahin’ - India’s first hypermarket chain launched. 2002 Food Bazaar, the supermarket chain is launched. 2004 Central – ‘Shop, Eat, Celebrate in the Heart of Our City’ - India’s first seamless mall is launched in Bangalore. 2005 Fashion Station - the popular fashion chain is launched all – ‘a little larger’ - exclusive stores for plus-size individuals is launched 2006 Future Capital Holdings, the company’s financial arm launches real estate funds Kshitij and Horizon and private equity fund in division. Plans forays into insurance and consumer credit Multiple retail formats including Collection Furniture Bazaar, Shoe Factory, E-Zone, Depot, and futurebazaar.com and are launched across the nation. Group enters into joint venture agreements with ETAM Group and Generali AWARDS Indian Retail Forum Awards 2008 CNBC Awaaz Consumer Awards 2009 Most Preferred Multi Product Chain - Big Bazaar Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar Images Fashion Forum 2009 Most Admired Fashion Group Of The Year - Future Group Most Admired Private Label - Pantaloons, the lifestyle format Critic’s Choice For Pioneering Effort In Retail ConceptCreation - Central Coca-Cola Golden Spoon Awards 2009 Most Admired Food & Grocery Retailer Of The Year Most Admired Food Court Most Admired Food Professional The INDIA STAR Award 2008 Retail Asia Pacific 500 Top Awards 2008 Coca-Cola Golden Spoon Awards 2008 The Reid & Taylor Awards For Retail Excellence 2008 Platinum Trusted Brand Award Images Retail Award 2005,06 DLF Award 2004 BOARD OF DIRECTORS BOARD OF DIRECTORS: 0305435Mr. Kishore Biyani, Managing Director Kishore Biyani is the Managing Director of Pantaloon Retail (India) Limited and the Group Chief Executive Officer of Future Group. Mr. Gopikishan Biyani, Wholetime Director Gopikishan Biyani, is a commerce graduate and has more than twenty years of experience in the textile business. 0442595Mr. Rakesh Biyani, Wholetime Director Rakesh Biyani, is a commerce graduate and has been actively involved in category management; retail stores operations, IT and exports. He has been instrumental in the implementation of the various new retail formats. 0445135Mr. Ved Prakash Arya, Director Ved Prakash Arya, is an engineer by training and is a graduate of the Indian Institute of Management, Ahmedabad. Prior to joining Pantaloon Retail, he was the CEO of Globus. 19050438785Mr. Shailesh Haribhakti, Independent Director Shri Shailesh Haribhakti, is a Chartered Accountant, Cost Accountant, and a Certified Internal Auditor. He is the Deputy Managing Partner of Haribhakti & Co., Chartered Accountants and past president of Indian merchant Chambers. He is on the Board of several Public Limited Companies, including Indian Petrochemicals Corporation Ltd., Ambuja Cement Eastern Ltd. etc. He is on the Board of Company since June 1, 1999. 19050438150Mr. S Doreswamy, Independent Director S. Doreswamy, is a former Chairman and Managing Director of Central Bank of India and serves on the board of DSP Merrill Lynch Trustee Co and Ceat Limited Dr. D O Koshy, Independent Director 190509525D. O. Koshy, holds a doctorate from IIT, Delhi and is the Director of National Institute of Design (NID), Ahmedabad. He has over 24 years of rich experience in the textiles and garment industry and was instrumental in the setting up of NIFT centres in Delhi, Chennai and Bangalore. He is a renowned consultant specializing in international marketing and apparel retail management. 0441325Ms. Anju Poddar, Independent Director Anju Poddar, holds a Bachelor of Engineering from University of Oklahoma and is a Director, NIFT, Hyderabad chapter. She also serves on the board of Maharishi Commerce Ltd and Samay Books Ltd, 0443865Ms. Bala Deshpande, Independent Director Bala Deshpande, is Independent Director, Pantaloon Retail (India) Ltd. and also serves on the boards of Deccan Aviation, Nagarjuna Construction, Welspun India and Indus League Clothing Ltd, Mr. Anil Harish, Independent Director 19050-3175Anil Harish, is the partner of DM Harish & Co. Associates & Solicitors and an LLM from University of Miami. He also serves on the board of Mahindra Gesco, Unitech, IndusInd Bank and Hinduja TMT. Different formats ,[object Object],Pantaloon Retail (India) Limited, is India's leading retail company with presence across multiple lines of businesses. The company owns and manages multiple retail formats that cater to a wide cross-section of the Indian society and is able to capture almost the entire consumption basket of the Indian consumer. Headquartered in Mumbai (Bombay), the company operates through 5 million square feet of retail space, has over cores across 40 cities in India and employs over 17,000 people. The company registered a turnover of Rs. 2,019 crore for FY 2005-06. Background: Founded in 1987 as a garment manufacturing company, the company forayed into modern retail in August 1997 with the launch of its first department store, Pantaloons in Kolkata. Listing: Pantaloon Retail is a listed company on the Bombay Stock Exchange (BSE, Scrip Code: 523574) and National Stock Exchange (NSE, Symbol: PANTALOONR). ,[object Object]

Central, the showcase seamless mall concept is one of the more popular offerings in the lifestyle segment that celebrates shopping in India. During the year, Central capitalized on its positioning of being a destination where citizens can just come and unwind, whether it’s for shopping for a wide range of national and international brands, enjoying their favorite cuisine at the multiple specialty restaurants and food courts or watching the latest movie releases at the in-house multiplexes. The most reputed brands are showcased in Central. It is also emerging as the destination of first choice for new fashion brands in India. Central assures better visibility, instant recognition, good quality and commercially viable space on the basis of the optimum space utilization concept, taking the brand closer to the consumer. With brands within Central competing against the best brands in the country, it also allows benchmarking for these brands. ,[object Object]

Home Improvement ,[object Object]

Restaurant, Leisure & Entertainment

BIG BAZAARIsse sasta aur accha kahin nahi! Big Bazaar has clearly emerged as the favorite shopping destination for millions of its consumers, across the country, it’s success is a true testament to the emotional bonding it has established with the Indian consumer, on account of its value offerings, inspirational appeal and service levels. Shop till you drop! Big Bazaar has democratized shopping in India and is so much more than a hypermarket. Here, you will find over 170,000 products under one roof that cater to every need of a family, making Big Bazaar India’s favorite shopping destination. At Big Bazaar, you will get the best products at the best prices from apparel to general merchandise like plastics, home furnishings, utensils, crockery, cutlery, sports goods, car accessories, books and music, computer accessories and many, many more. Big Bazaar is the destination where you get products available at prices lower than the MRP, setting a new level of standard in price, convenience and quality. If you are a fashion conscious buyer who wants great clothes at great prices, Big Bazaar is the place to be. Leveraging on the company’s inherent strength of fashion, Big Bazaar has created a strong value-for-money proposition for its customers. This highlights the uniqueness of Big Bazaar as compared to traditional hypermarkets, which principally revolve around food, groceries and general merchandise. Boasting of an impressive array of private labels, Big Bazaar is continually striving to provide customers with a ‘complete’ look. So be it men’s wear, women’s wear, kids wear, sportswear or party wear, Big Bazaar fashions has it all! Food Bazaar Across India, food habits vary according to community, customs and geography. Food Bazaar, through its multiple outlets addresses this. At the same time it offers best quality products at wholesale prices to a wide cross section of the India population. Food Bazaar effectively blends the look, touch and feels of the Indian bazaar with the choice, convenience and hygiene that modern retail provides. The food and grocery division of the company was launched in 2002-03 and has grown to 47 stores nationwide at the end of the current financial year. Most stores are located within Big Bazaar, Central and Pantaloons and act as strong footfall generators. There are separate stand-alone Food Bazaars as well. The business contributed just fewer than 50 per cent of value retailing, and about 20 per cent to the company’s turnover during 2005-06. Food Bazaar offers a Variety of daily consumption items, which include staples, soaps and detergents, oils, cereals and biscuits. On the product category side, the primary segregation is done on the basis of staples, fresh produce, branded foods and home and personal care products. FOOD BAZAAR Ab Ghar Chalaana Kitna Aasaan Food Bazaar invites you for a shopping experience, unique by its ambience. At Food Bazaar you will find a hitherto unseen blend of a typical Indian Bazaar and International supermarket atmosphere. Flagged off in April’02, Food Bazaar is a chain of large supermarkets with a difference, where the best of Western and Indian values have been put together to ensure your satisfaction and comfort while shopping. The western values of convenience, cleanliness and hygiene are offered through pre packed commodities and the Indian values of quot;
See-Touch-Feelquot;
are offered through the “bazaar-like” atmosphere created by displaying staples out in the open, all at very economical and affordable prices without any compromise on quality. The best of everything offered with a seal of freshness and purity will definitely make your final buying decision a lot easier. Food Bazaar:- The various brands in the food bazaar department are classified into three major departments which are listed as follows: ,[object Object]

Processed Food The department of food consists of the following three sub departments according to the alphabetical order respectively. ,[object Object]

The departments of non-foods consist of the following three sub departments according to the alphabetical order respectively.

The department of staples consists the following sub departments.

PROCESSED FOODThe department of beverages consists of different brands which again classified into three different major categories ,[object Object]

Tea & coffee The next sub department in the processed food department is the chef zone which consists of all the ready to cook products. The major categories of chef zone consists of the following: ,[object Object]

Maintain FIFO Consistency in Food Bazaar

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (14)

Similar to Maintain FIFO Consistency in Food Bazaar

Similar to Maintain FIFO Consistency in Food Bazaar (20)

Maintain FIFO Consistency in Food Bazaar