FUTURE GROUP ITR

8/7/2019 FUTURE GROUP ITR

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SUBMITTED BYSUBMITTED BY

FUTURE GROUP


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IN TRODUCTIONIN TRODUCTIONy Founder & CEO : Mr. Kishore Biyaniy Core Business : Retaily Other Group Subsidaries : Consumer Finance, Capital,

Insurance, Leisure & Entertainment, Brand Development etc..y

Flagship Enterprise : Pantaloons Retail India Ltd.y Total Retail Space : 12 million sq. ft.y Operates in : 71 cities & 65 rural locations.y Headquarter in : Mumbaiy Total no. of employees : 30,000


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BIG BAZAAR

y Type -Hypermarket y Founded 2001y Headquarters -Jogeshwari, Mumbaiy Industry- Retaily Products- Department, Grocery storey Punchline - Is se sasta aur accha kahin nahiny Currently 120 outlets


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Q1] What is Retail marketing or Retailing? How isQ1] What is Retail marketing or Retailing? How isretailing helpful to the end customer?retailing helpful to the end customer?y Retailing can be defined as a set of business activities that adds value to

the products and services sold to the final consumers for theirpersonal, family or household use.

Retailing is h elpful to th e end c ustomer as it h elps to provide th e following fun c tions :

y Buying in bulk & selling it individuallyy Good retail goods assortmenty

Storing inventory & selling itwhen the need arises

y Providing after sales servicesy Providing information


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Q2] What is the vision & mission of theQ2] What is the vision & mission of theFuture Group?Future Group?

V ision :Future Group shall deliver Everything, Everywhere, Every time forEvery Indian consumer in the most profitable manner.

M ission :W e share the vision and belief that our customers and stakeholders shall beserved only by creating and executing future scenarios in the consumptionspace leading to economic development.

W e will be the trendsetters in evolving delivery formats, creating retail realty,making consumption affordable for all customer segments for classes and formasses.W e shall infuse Indian brands with confidence and renewed ambition.

W e shall be efficient, cost- conscious and committed to quality in whatever wedo.


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Q2] How do you think they are able to achieve these objectives?Q2] How do you think they are able to achieve these objectives?Future Group is able to achieve its vision by opening up various retail formatscatering to variety of customers.

Eg: 120 outlets of Big Bazaar [Hypermarket selling goods at a lowrate],www.futurebazaar.comFuture Group has the following core values which are in sync with its mission:

Indianess, Leadership, Respect & humility, Introspection, Openness,Adaptability, Simplicity & positivity, Valuing and nurturing relationships,Flow.

The leading retail formats of Future Group include:Pantaloons StoresBig BazaarCentralFood BazaarHome TownE ZoneDepotHealth & Beauty MallsOnline retail through futurebazaar.com


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Q3] Discuss the various factors responsible for theQ3] Discuss the various factors responsible for thephenomenal growth of Future Group? According to youphenomenal growth of Future Group? According to youwhat are the reasons of its spectacular growth?what are the reasons of its spectacular growth?y Geographical Expansionsy Technological advancements.

Eg: Future Group is a client of Sampark [W ipro Tech.]y Multi-format venturesy Joint Ventures with both International & National Partners.

Eg: Indus League Clothing, ETAM group, Lee Cooper, Talwalkar's,Blue Foods.

y Future group is trying to adopt the strategy of W al-martEg : EDLP(every day low price)

y Gradual backward integration. Eg: Future Logistics.


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Q4] What do you understand by information technology? Do youQ4] What do you understand by information technology? Do youthink IT is useful in business? List out the benefits that anthink IT is useful in business? List out the benefits that anorganization can look for using IT?organization can look for using IT?

y IT deals with the use of electronic computers and computersoftware to convert, store, protect, process, transmit,and securely retrieve information.

y Broadly, IT consists of:- Hardware

Software Networking Peopleware

y The benefits form IT may be of two types:o - Tangibleo - Intangible


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y Tangible :Increased Sales /RevenueReduction in InventoryReduction in OverheadsReduction in lead time

Intangible:

On-time shipmentsUp to date informationAvailability of Information is faster

Right information to the right peopleBetter customer satisfactionImproved vendor performanceImproved resource utilityImproved decision-making capability.


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Q5] What do you think is role of IT in retail?Q5] What do you think is role of IT in retail?

y Better communication with the vendors.Eg: VMI

y Faster Billing & Checkouty

Better control over the inventoryy Regular checks on stockEg: Prevention of shrinkage

y Helps in enhancing the visual merchandising by specific

design softwares.y Better customer-retailer relationship Eg: CRM s/wy Better forecasting of sales.


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Q5] Do you think it can improve theQ5] Do you think it can improve theworking of a retail outlet?working of a retail outlet?y Yes, it can improve the working of a retail

outlet as it helps in the following ways:i. Improved operations productivity through

computerizationii. The supply chain is characterized by a

highly integrated collaborative, sense-andrespond network .

iii. Retailers such as Home depot,W al-martand J.C. Penney used video conferencing.

iv. Software provides computerized inventorycontrol and customer order and tracking.


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TYPES OF COMPUTER IZ ATION IN RETAIL STORE OPERAT ION:

I. COMPUTERIZED CHECKOUTII. ELECTRONIC P.O.S(POINT OF SALE) SY STEMIII. SELF SCANNING


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SELF SCA NNIN Gy

Self scanning can be defined as the consumer himself or herself scans the items being purchased at a checkout counter , pays bycredit or debit card, & bags the items.Example: ATMs & pay- at-the-pump gas mere baby steps for an

industry now taking giant strides at airports, hotels, & elsewhere


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Q5] Did it affect Big Bazaar working, if yes, how?Q5] Did it affect Big Bazaar working, if yes, how?

Yes , IT has a great impact on the working of the BIG BAZAAR.y 2 MILLION CUSTOMERS EVERY W EEK.y OVER 1 MILLION LOYALTY CARD MEMBERS.y MORE THAN 160,000 PRODUCTS ARE SOLD EVERY DAY.y BIG BAZAAR STORES COVER NEARLY 4 MILLION

SQ.FEET OF SPACE.


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Contd1. All this has been made possible with the extensive usage

of information technology.2. W ith state of the art technology in place , they are in a

position to have complete control of their operations be itsupply chain or customer care.

3. They also keep a close watch on the movement of variousitems / products by regular scanning of complete storeinventory.

4. W ith the help of it big bazaar is able to keep a close watchon stock status.


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FUTURE GROUP ITR

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