Search results for: Retail Business

Authors: M. W. Yip, H. H. Ng, S. Din, N. Abu Bakar

Abstract:

This paper reviewed the relationships between the Knowledge Management (KM) activities and its perceived benefits in the knowledge based organisations. KM activities include: knowledge identification, knowledge acquisition, knowledge application, knowledge sharing, knowledge creation and knowledge preservation. And the perceived benefits of KM are fast customer responsiveness, operation excellence and high innovative intensity.  Based on the above review, a conceptual framework for KM implementation in retail business organisations has been proposed. Finally the paper forwarded some limitations of the framework and based on which, directions for future research had been suggested.

Keywords: Knowledge Management, Knowledge Management Activities, Retail Business, Knowledge Economy.

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Authors: Julio Kauss, Miguel Cadillo, David Mauricio

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E-commerce is a business model that allows companies to optimize the processes of buying, selling, transferring goods and exchanging services through computer networks or the Internet. In Peru, the electronic commerce is used infrequently. This situation is due, in part to the fact that there is no model that allows companies to implement an e-commerce solution, which means that most SMEs do not have adequate knowledge to adapt to electronic commerce. In this work, a reference model is proposed for the implementation of an e-commerce solution in Peruvian SMEs in the retail sector. It consists of five phases: Business Analysis, Business Modeling, Implementation, Post Implementation and Results. The present model was validated in a SME of the Peruvian retail sector through the implementation of an electronic commerce platform, through which the company increased its sales through the delivery channel by 10% in the first month of deployment. This result showed that the model is easy to implement, is economical and agile. In addition, it allowed the company to increase its business offer, adapt to e-commerce and improve customer loyalty.

Keywords: E-commerce, retail, SMEs, reference model.

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Authors: Volker Lange, Stephanie Moede, Christiane Auffermann

Abstract:

From an economic standpoint the current and future road traffic situation in urban areas is a cost factor. Traffic jams and congestion prolong journey times and tie up resources in trucks and personnel. Many discussions about imposing charges or tolls for cities in Europe in order to reduce traffic congestion are currently in progress. Both of these effects lead – directly or indirectly - to additional costs for the urban distribution systems in retail companies. One approach towards improving the efficiency of retail distribution systems, and thus towards avoiding negative environmental factors in urban areas, is horizontal collaboration for deliveries to retail outlets – Urban Retail Logistics. This paper presents a classification system to help reveal where cooperation between retail companies is possible and makes sense for deliveries to retail outlets in urban areas.

Keywords: City Logistics, Horizontal Collaboration, Urban Freight Transport, Urban Retail Logistics.

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Authors: Carsten Röcker

Abstract:

This paper provides an introduction into the evolution of information and communication technology and illustrates its usage in the work domain. The paper is sub-divided into two parts. The first part gives an overview over the different phases of information processing in the work domain. It starts by charting the past and present usage of computers in work environments and shows current technological trends, which are likely to influence future business applications. The second part starts by briefly describing, how the usage of computers changed business processes in the past, and presents first Ambient Intelligence applications based on identification and localization information, which are already used in the production and retail sector. Based on current systems and prototype applications, the paper gives an outlook of how Ambient Intelligence technologies could change business processes in the future.

Keywords: Ambient Intelligence, Ubiquitous Computing, Business Applications, Radio Frequency Identification (RFID).

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Authors: Carsten Röcker

Abstract:

This paper provides an introduction into the evolution of information and communication technology and illustrates its usage in the work domain. The paper is sub-divided into two parts. The first part gives an overview over the different phases of information processing in the work domain. It starts by charting the past and present usage of computers in work environments and shows current technological trends, which are likely to influence future business applications. The second part starts by briefly describing, how the usage of computers changed business processes in the past, and presents first Ambient Intelligence applications based on identification and localization information, which are already used in the production and retail sector. Based on current systems and prototype applications, the paper gives an outlook of how Ambient Intelligence technologies could change business processes in the future.

Keywords: Ambient Intelligence, Ubiquitous Computing, Business Applications, Radio Frequency Identification (RFID)

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Authors: Brent McKenzie, Victoria Taylor

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The use of QR (Quick Response Codes) codes for customer scanning with mobile phones is a rapidly growing trend. The QR code can provide the consumer with product information, user guides, product use, competitive pricing, etc. One sector for QR use has been in retail, through the use of Electronic Shelf Labeling (henceforth, ESL). In Europe, the use of ESL for pricing has been in practice for a number of years but continues to lag in acceptance in North America. Stated concerns include costs as a key constraint, but there is also evidence that consumer acceptance represents a limitation as well. The purpose of this study is to present the findings of a consumer based study to gage the impact on their use in the retail food sector.

Keywords: Electronic shelf labels (ESL), consumer insights, retail food sector.

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Authors: M. G. Mattos, J. E. Pécora Jr, T. A. Briso

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Today's challenging business environment, with unpredictable demand and volatility, requires a supply chain strategy that handles uncertainty and risks in the right way. Even though inventory models have been previously explored, this paper seeks to apply these concepts on a practical situation. This study involves the inventory replenishment problem, applying techniques that are mainly based on mathematical assumptions and modeling. The primary goal is to improve the retailer’s supply chain processes taking store differences when setting the various target stock levels. Through inventory review policy, picking piece implementation and minimum exposure definition, we were able not only to promote the inventory reduction as well as improve sales results. The inventory management theory from literature review was then tested on a single case study regarding a particular department in one of the largest Latam retail chains.

Keywords: Inventory, distribution, retail, risk, safety stock, sales, uncertainty.

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Authors: Prakash Vel, Jocelyn Rodrigues

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Luxury is an identity, a philosophy and a culture which requires understanding before the adoption of e-business practices because of its intricacies and output are essentially different from other types of goods. Factors such as culture, personal characteristics, website quality, and vendor characteristics influence the online purchasing behavior of consumers thus making it a complex area of study. This paper explores the scope of e-retail for luxury consumption in the U.A.E. by identifying what motivates and de-motivates online purchase behavior of U.A.E. consumers and necessary hypotheses have been drawn to reflect behavior between online luxury preference consumers and non-online luxury preference consumers.

Keywords: e-Retail, Luxury brands, U.A.E. consumer.

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Authors: Rohani Salleh, Mishaliny Sivadahasan Nair, Haryanni Harun

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High employee turnover rate in Malaysia-s retail industry has become a major issue that needs to be addressed. This study determines the levels of job satisfaction, organizational commitment, and turnover intention of employees in a retail company in Malaysia. The relationships between job satisfaction and organizational commitment on turnover intention are also investigated. A questionnaire was developed using Job Descriptive Index, Organizational Commitment Questionnaire, and Lee and Mowday-s turnover intention items and data were collected from 62 respondents. The findings suggested that the respondents were moderately satisfied with job satisfaction facets such as promotion, work itself, co-workers, and supervisors but were unsatisfied with salary. They also had moderate commitment level with considerably high intention to leave the organization. All satisfaction facets (except for co-workers) and organizational commitment were significantly and negatively related to turnover intention. Based on the findings, retention strategies of retail employees were proposed.

Keywords: Job satisfaction, organizational commitment, retail employees, turnover intention.

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Authors: I. Erins, J. Erina

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The aim of this article is to assess the existing business models used by the banks operating in the CEE countries in the time period from 2006 till 2011. In order to obtain research results, the authors performed qualitative analysis of the scientific literature on bank business models, which have been grouped into clusters that consist of such components as: 1) capital and reserves; 2) assets; 3) deposits, and 4) loans. In their turn, bank business models have been developed based on the types of core activities of the banks, and have been divided into four groups: Wholesale, Investment, Retail and Universal Banks. Descriptive statistics have been used to analyse the models, determining mean, minimal and maximal values of constituent cluster components, as well as standard deviation. The analysis of the data is based on such bank variable indices as Return on Assets (ROA) and Return on Equity (ROE).

Keywords: Banks, Business model, CEE, ROA, ROE.

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Authors: J. Arneric, E. Jurun, L. Kordic

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This paper deals with econometric analysis of real retail trade turnover. It is a part of an extensive scientific research about modern trends in Croatian national economy. At the end of the period of transition economy, Croatia confronts with challenges and problems of high consumption society. In such environment as crucial economic variables: real retail trade turnover, average monthly real wages and household loans are chosen for consequence analysis. For the purpose of complete procedure of multiple econometric analysis data base adjustment has been provided. Namely, it has been necessary to deflate original national statistics data of retail trade turnover using consumer price indices, as well as provide process of seasonally adjustment of its contemporary behavior. In model establishment it has been necessary to involve the overcoming procedure for the autocorrelation and colinearity problems. Moreover, for case of time-series shift a specific appropriate econometric instrument has been applied. It would be emphasize that the whole methodology procedure is based on the real Croatian national economy time-series.

Keywords: Consumption society, multiple econometric model, real retail trade turnover, second order autocorrelation.

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Authors: Victor Birikorang Danquah

Abstract:

Ghana's primary energy supply is heavily reliant on petroleum, biomass, and hydropower. Currently, Ghana gets its energy from hydropower (Akosombo and Bui), thermal power plants powered by crude oil, natural gas, and diesel, solar power, and imports from La Cote d'Ivoire. Until the early 2000s, large hydroelectric dams dominated Ghana's electricity generation. Due to the unreliable weather patterns, Ghana increased its reliance on thermal power. Thermal power contributes the highest percentage in terms of electricity generation in Ghana and is predominantly supplied by Independent Power Producers (IPPs). Ghana's electricity industry operates the corporate utility model as its business model. This model is typically 'vertically integrated', with a single corporation selling the majority of power generated by its generation assets to its retail business, which then sells the electricity to retail market consumers. The corporate utility model has a straightforward value proposition that is based on increasing the number of energy units sold. The unit volume business model drives the entire energy value chain to increase throughput, locking system users into unsustainable practices. This report uses the qualitative research approach to explore the electricity industry in Ghana. There is the need for increasing renewable energy such as wind and solar in the electricity generation. The research recommends two critical business models for the penetration of renewable energy in Ghana's power sector. The first model is the peer-to-peer electricity trading model which relies on a software platform to connect consumers and generators in order for them to trade energy directly with one another. The second model is about encouraging local energy generation, incentivizing optimal time-of-use behaviour, and allow any financial gains to be shared among the community members.

Keywords: business model innovation, electricity generation, renewable energy, solar energy, sustainability, wind energy

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Authors: Saleh Dabil

Abstract:

This study investigates the level of existence of organized retail crime in supermarkets of Riyadh, Saudi Arabia. The store managers, security managers and general employees were asked about the types of retail crimes occur in the stores. Three independent variables were related to the report of organized retail theft. The independent variables are: 1) the supermarket profile (volume, location, standard and type of the store), 2) the social physical environment of the store (maintenance, cleanness and overall organizational cooperation), 3) the security techniques and loss prevention electronics techniques used. The theoretical framework of this study based on the social disorganization theory. This study concluded that the organized retail theft, in specific, organized theft is moderately apparent in Riyadh stores. The general result showed that the environment of the stores has an effect on the prevalence of organized retail theft with relation to the gender of thieves, age groups, working shift, type of stolen items as well as the number of thieves in one case. Among other reasons, some factors of the organized theft are: economic pressure of customers based on the location of the store. The dealing of theft also was investigated to have a clear picture of stores dealing with organized retail theft. The result showed that mostly, thieves sent without any action and sometimes given written warning. Very few cases dealt with by police. There are other factors in the study can be looked up in the text. This study suggests solving the problem of organized theft; first, is "the well distributing of the duties and responsibilities between the employees especially for security purposes". Second "Installation of strong security system" and "Making well-designed store layout". Third is "giving training for general employees" and "to give periodically security skills training of employees". There are other suggestions in the study can be looked up in the text.

Keywords: Organized Crime, Retail, Theft, Loss prevention, Store environment.

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Authors: Hsin-Hui Lin

Abstract:

With the proliferation of multi-channel retailing, developing a better understanding of the factors that affect customers- purchase behaviors within a multi-channel retail context has become an important topic for practitioners and academics. While many studies have investigated the various customer behaviors associated with brick-and-mortar retailing, online retailing, and brick-and-click retailing, little research has explored how customer shopping value perceptions influence online purchase behaviors within the TV-and-online retail environment. The main purpose of this study is to investigate the influence of TV and online shopping values on online patronage intention. Data collected from 116 respondents in Taiwan are tested against the research model using the partial least squares (PLS) approach. The results indicate that utilitarian and hedonic TV shopping values have indirect, positive influences on online patronage intention through their online counterparts in the TV-and-online retail context. The findings of this study provide several important theoretical and practical implications for multi-channel retailing.

Keywords: Multi-channel retailing, utilitarian shopping value, hedonic shopping value, online purchase

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Authors: Norazah Mohd Suki, Norbayah Mohd Suki

Abstract:

This research aims to examine the influence of mediating effect of corporate social responsibility on the relationship between consumer awareness of green marketing and purchase intentions in the retail setting. Data from 200 valid questionnaires was analyzed using the partial least squares (PLS) approach for the analysis of structural equation models with SmartPLS computer program version 2.0 as research data does not necessarily have a multivariate normal distribution and is less sensitive to sample size than other covariance approaches. PLS results revealed that corporate social responsibility partially mediated the link between consumer awareness of green marketing and purchase intentions of the product in the retail setting. Marketing managers should allocate a sufficient portion of their budget to appropriate corporate social responsibility activities by engaging in voluntary programs for positive return on investment leading to increased business profitability and long run business sustainability. The outcomes of the mediating effects of corporate social responsibility add a new impetus to the growing literature and preceding discoveries on consumer green marketing awareness, which is inadequately researched in the Malaysian setting. Direction for future research is also presented.

Keywords: Green marketing awareness, corporate social responsibility, partial least squares, purchase intention.

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Authors: Revoti Prasad Bora, Nikita Katyal

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Promotion is a key element in the retail business. Thus, analysis of promotions to quantify their effectiveness in terms of Revenue and/or Margin is an essential activity in the retail industry. However, measuring the sales/revenue uplift is based on estimations, as the actual sales/revenue without the promotion is not present. Further, the presence of Halo and Cannibalization in a multiple parallel promotions’ scenario complicates the problem. Calculating Baseline by considering inter-brand/competitor items or using Halo and Cannibalization's impact on Revenue calculations by considering Baseline as an interpretation of items’ unit sales in neighboring nonpromotional weeks individually may not capture the overall Revenue uplift in the case of multiple parallel promotions. Hence, this paper proposes a Machine Learning based method for calculating the Revenue uplift by considering the Halo and Cannibalization impact on the Baseline and the Revenue. In the first section of the proposed methodology, Baseline of an item is calculated by incorporating the impact of the promotions on its related items. In the later section, the Revenue of an item is calculated by considering both Halo and Cannibalization impacts. Hence, this methodology enables correct calculation of the overall Revenue uplift due a given promotion.

Keywords: Halo, cannibalization, promotion, baseline, temporary price reduction, retail, elasticity, cross price elasticity, machine learning, random forest, linear regression.

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Authors: S. Habte, K. Ouazzane, P. Patel, S. Patel

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The dynamic and highly competitive nature of the consumer electronics retail industry means that businesses in this industry are experiencing different decision making challenges in relation to pricing, inventory control, consumer satisfaction and product offerings. To overcome the challenges facing retailers and create opportunities, we propose a generic data warehousing solution which can be applied to a wide range of consumer electronics retailers with a minimum configuration. The solution includes a dimensional data model, a template SQL script, a high level architectural descriptions, ETL tool developed using C#, a set of APIs, and data access tools. It has been successfully applied by ASK Outlets Ltd UK resulting in improved productivity and enhanced sales growth.

Keywords: Consumer electronics retail, dimensional data model, data analysis, generic data warehousing, reporting.

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Authors: Aussadavut Dumrongsiri

Abstract:

Westudy a dual-channel supply chain under decentralized setting in which manufacturer sells to retailer and to customers directly usingan online channel. A customer chooses the purchase-channel based on price and service quality. Also, to buy product from the retail store, the customer incurs a transportation cost influenced by the fluctuating gasoline cost. Both companies are under the revenue sharing contract. In this contract the retailer share a portion of the revenue to the manufacturer while the manufacturer will charge the lower wholesales price. The numerical result shows that the effects of gasoline costs, the revenue sharing ratio and the wholesale price play an important role in determining optimal prices. The result shows that when the gasoline price fluctuatesthe optimal on-line priceis relatively stable while the optimal retail price moves in the opposite direction of the gasoline prices.

Keywords: direct-channel, e-business, pricing model, dualchannel supply chain, gasoline cost, revenue sharing

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Authors: Ankit Sinha, Soham Banerjee, Pratik Chattopadhyay

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Automated product recognition in retail stores is an important real-world application in the domain of Computer Vision and Pattern Recognition. In this paper, we consider the problem of automatically identifying the classes of the products placed on racks in retail stores from an image of the rack and information about the query/product images. We improve upon the existing approaches in terms of effectiveness and memory requirement by developing a two-stage object detection and recognition pipeline comprising of a Faster-RCNN-based object localizer that detects the object regions in the rack image and a ResNet-18-based image encoder that classifies  the detected regions into the appropriate classes. Each of the models is fine-tuned using appropriate data sets for better prediction and data augmentation is performed on each query image to prepare an extensive gallery set for fine-tuning the ResNet-18-based product recognition model. This encoder is trained using a triplet loss function following the strategy of online-hard-negative-mining for improved prediction. The proposed models are lightweight and can be connected in an end-to-end manner during deployment to automatically identify each product object placed in a rack image. Extensive experiments using Grozi-32k and GP-180 data sets verify the effectiveness of the proposed model.

Keywords: Retail stores, Faster-RCNN, object localization, ResNet-18, triplet loss, data augmentation, product recognition.

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Authors: Dawei Lin

Abstract:

This research proposes an Interactive 3D Experience to enhance customer value in the fantasy era. As products reach maturity, they become more similar in the range of functions that they provide. This leads to competition via reduced retail price and ultimately reduced profitability. A competitive design method is therefore needed that can produce higher value products. An Enhanced Value Experience has been identified that can assist designers to provide quality products and to give them a unique positioning. On the basis of this value opportunity, the method of Interactive 3D Experience has been formulated and applied to the domain of retail furniture. Through this, customers can create their own personalized styling via the interactive 3D platform.

Keywords: Interactive 3D experience, enhanced valueexperience, value opportunity, personalized styling.

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Authors: Ljubica Milanović Glavan

Abstract:

Because of the increasing business pressures, companies must be adaptable and flexible in order to withstand them. Inadequate business processes and low level of business process orientation, that in its core accentuates business processes as opposed to business functions and focuses on process performance and customer satisfaction, hider the ability to adapt to changing environment. It has been shown in previous studies that the companies which have reached higher business process maturity level consistently outperform those that have not reached them. The aim of this paper is to provide a basic understanding of business process orientation concept and business process maturity model. Besides that the paper presents the state of business process orientation in Croatia that has been captured with a study conducted in 2013. Based on the results some practical implications and guidelines for managers are given.

Keywords: Business process orientation, business process maturity, Croatia, maturity score.

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Authors: Zeljko Panian

Abstract:

Through the course of this paper we define Locationbased Intelligence (LBI) which is outgrowing from process of amalgamation of geolocation and Business Intelligence. Amalgamating geolocation with traditional Business Intelligence (BI) results in a new dimension of BI named Location-based Intelligence. LBI is defined as leveraging unified location information for business intelligence. Collectively, enterprises can transform location data into business intelligence applications that will benefit all aspects of the enterprise. Expectations from this new dimension of business intelligence are great and its future is obviously bright.

Keywords: Business intelligence, geolocation, location-based intelligence, innovation, location-intelligent business

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Authors: I. Lolic, P. Soric, M. Cizmesija

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Based on Business and Consumer Survey (BCS) data, the European Commission (EC) regularly publishes the monthly Economic Sentiment Indicator (ESI) for each EU member state. ESI is conceptualized as a leading indicator, aimed ad tracking the overall economic activity. In calculating ESI, the EC employs arbitrarily chosen weights on 15 BCS response balances. This paper raises the predictive quality of ESI by applying nonlinear programming to find such weights that maximize the correlation coefficient of ESI and year-on-year GDP growth. The obtained results show that the highest weights are assigned to the response balances of industrial sector questions, followed by questions from the retail trade sector. This comes as no surprise since the existing literature shows that the industrial production is a plausible proxy for the overall Croatian economic activity and since Croatian GDP is largely influenced by the aggregate personal consumption.

Keywords: Business and Consumer Survey, Economic Sentiment Indicator, Leading Indicator, Nonlinear Optimization with Constraints.

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Authors: G. Sekeroglu, M. Altan

Abstract:

Working capital is identified as firm’s all current assets. Inventories which are one of the working capital elements are very important among current assets for firms. Because, profitability is an indicator for firms’ financial success is provided with minimum cost and optimum inventory quantity. So in this study, it is investigated as comparatively that the effect of inventory management on the profitability of Turkish firms which operated in weaving industry, eatables industry, wholesale and retail industry in between 2003 – 2012 years. Research data consist of profitability ratios and inventory turnovers ratio calculated by using balance sheets and income statements of firms which operated in Borsa Istanbul (BIST). In this research, the relationship between inventories and profitability is investigated by using SPSS-20 software with regression and correlation analysis. The results achieved from three industry departments which exist in study interpreted as comparatively. Accordingly, it is determined that there is a positive relationship between inventory management and profitability in eatables industry. However, it was founded that there is no relationship between inventory management and profitability in weaving industry and wholesale and retail industry.

Keywords: Profitability, regression analysis, inventory management, working capital.

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Authors: Jingxian An, Wei Yu

Abstract:

The commercial value (retail price) of wine is mostly determined by the wine quality, ageing potential, and oak influence. This paper reveals that wine quality, ageing potential, and oak influence are favourably correlated, hence positively influencing the commercial value of Pinot noir wines. Oak influence is the most influential of these three sensory attributes on the price set by wine traders and estimated by experienced customers. In the meanwhile, this study gives winemakers with chemical instructions for raising total phenolics, which can improve wine quality, ageing potential, and oak influence, all of which can increase a wine’s economic worth.

Keywords: Retail price, ageing potential, wine quality, oak influence.

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Authors: Adla Bentellis, Zizette Boufaïda

Abstract:

Nowadays, the pace of business change is such that, increasingly, new functionality has to be realized and reliably installed in a matter of days, or even hours. Consequently, more and more business processes are prone to a continuous change. The objective of the research in progress is to use the MAP model, in a conceptual modeling method for flexible and adaptive business process. This method can be used to capture the flexibility dimensions of a business process; it takes inspiration from modularity concept in the object oriented paradigm to establish a hierarchical construction of the BP modeling. Its intent is to provide a flexible modeling that allows companies to quickly adapt their business processes.

Keywords: Business Process, Business process modeling, flexibility, MAP Model.

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Authors: Bernhard G. Humm, Janina Fengel

Abstract:

Business process modeling has become an accepted means for designing and describing business operations. Thereby, consistency of business process models, i.e., the absence of modeling faults, is of upmost importance to organizations. This paper presents a concept and subsequent implementation for detecting faults in business process models and for computing a measure of their consistency. It incorporates not only syntactic consistency but also semantic consistency, i.e., consistency regarding the meaning of model elements from a business perspective.

Keywords: Business process modeling, model analysis, semantic consistency, Semantic Web

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Authors: Pejman Hosseinioun, Rose Shayeghi, Ghasem Ghorbani Rostam

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Nowadays, obtaining traditional statistics and reports is not adequate for the needs of organizational managers. The managers need to analyze and to transform the raw data into knowledge in the world filled with information. Therefore in this regard various processes have been developed. In the meantime the artificial intelligence-based processes are used and the new topics such as business intelligence and knowledge discovery have emerged. In the current paper it is sought to study the business intelligence and its applications in the organizations.

Keywords: Business intelligence, business intelligence infrastructures, business processes.

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Authors: Olga Novikova, Timo Vuori

Abstract:

This paper describes topology of business models in market ecosystem of the emerging electric mobility industry. The business model topology shows that firm-s participation in the ecosystem is associated with different requirements on resources and capabilities, and different levels of risk. Business model concept is used together with concepts of networked value creation and shows that firms can achieve higher levels of sustainable advantage by cooperation, not competition. Hybrid business models provide companies a viable alternative possibility for participation in the market ecosystem.

Keywords: Business model, ecosystem, topology.

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Authors: K. Liagkouras, K. Metaxiotis

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Customer relationship management (CRM) systems in business are a reality of the contemporary business world for the last decade or so. Still, there are grey areas regarding the successful implementation and operation of CRM systems in business. This paper, through the systematic study of the CRM implementation paradigm, attempts to identify the most important challenges and opportunities that the CRM systems face in a rapidly changing business world.

Keywords: Customer Relationship Management, CRM, Business, Information Systems.

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