{"id":521,"date":"2017-06-02T08:18:43","date_gmt":"2017-06-02T08:18:43","guid":{"rendered":"http:\/\/usahawanasional.punb.com.my\/?p=521"},"modified":"2017-06-02T08:18:43","modified_gmt":"2017-06-02T08:18:43","slug":"have-you-review-yours","status":"publish","type":"usahawanasional","link":"https:\/\/punb.benova.com.my\/ms\/usahawanasional\/have-you-review-yours\/","title":{"rendered":"Have You Review Yours?"},"content":{"rendered":"

In retail business, adapting and responding to change is an important process. Those of you who have been in business for many years would have made changes to keep up with current times. One way to do this is by conducting business review.<\/p>\n

A review process begins with evaluating your current status. The main areas<\/strong> to be look at are as follows:<\/p>\n

    \n
  1. Customers<\/li>\n<\/ol>\n

    Get to know their demographics and your surroundings.<\/p>\n

    \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Who are they<\/strong> – families, couples, singles, factory, workers or students?<\/p>\n

    \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Buying power<\/strong> \u2013 find out what products they buy, the types of businesses and price of real estate in the area to estimate their buying power<\/p>\n

    \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Buying pattern<\/strong> \u2013 do they buy smaller packs or cheaper brands?<\/p>\n

    \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Their schedule<\/strong> \u2013 should you open earlier or close later to accommodate them?<\/p>\n

    2.\u00a0 Products<\/p>\n

    Review your inventory to better suit your customers.<\/p>\n

      \n
    • \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Eliminate slow moving SKUs<\/li>\n
    • \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Do you need more premium or non-premium products?<\/li>\n
    • \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Offer exciting promotions (tip: do not stock up more than 1.5 times of your monthly sales)<\/li>\n
    • \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Is your pricing well-balanced<\/li>\n<\/ul>\n

      3. Suppliers<\/p>\n

      Find out how you can improve the way you work with them.<\/p>\n

        \n
      • Terms <\/strong>\u2013 pay on time to negotiate for better terms<\/li>\n
      • \u00a0Frequency of Service<\/strong> \u2013 stock up more often but in lesser quantities to avoid overstocking and for a better cash flow<\/li>\n
      • \u00a0Add on<\/strong> \u2013 consider specialized suppliers (eg. prayer items, packaging items, disposable items ie: plastic fork and spoons)<\/li>\n<\/ul>\n

         <\/p>","protected":false},"excerpt":{"rendered":"

        In retail business, adapting and responding to change is an important process. Those of you who have been in business for many years would have made changes to keep up with current times. One way to do this is by conducting business review. A review process begins with evaluating your current status. The main areas […]<\/p>","protected":false},"author":1,"featured_media":531,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","usahawanasional_tag":[1209,1229,1469,1500,1543],"usahawanasional_category":[1269,1135],"class_list":["post-521","usahawanasional","type-usahawanasional","status-publish","has-post-thumbnail","hentry","usahawanasional_tag-business","usahawanasional_tag-customer","usahawanasional_tag-product","usahawanasional_tag-review","usahawanasional_tag-supplier","usahawanasional_category-english","usahawanasional_category-idea-niaga"],"acf":[],"_links":{"self":[{"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/usahawanasional\/521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/usahawanasional"}],"about":[{"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/types\/usahawanasional"}],"author":[{"embeddable":true,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/comments?post=521"}],"version-history":[{"count":0,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/usahawanasional\/521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/media\/531"}],"wp:attachment":[{"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/media?parent=521"}],"wp:term":[{"taxonomy":"usahawanasional_tag","embeddable":true,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/usahawanasional_tag?post=521"},{"taxonomy":"usahawanasional_category","embeddable":true,"href":"https:\/\/punb.benova.com.my\/ms\/wp-json\/wp\/v2\/usahawanasional_category?post=521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}