financial challenges in the retail industry, thinking outside the chocolate box
DESCRIPTION
In this presentation by the Illinois Nut & Candy company, they talk through financial problems and solutions in retail. they discuss seasonal cash flow and the holiday periods helping out with finances in the current harsh economic climate.TRANSCRIPT
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Financial Challenges in the Retail Industry
Thinking outside the Chocolate Box
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Stores Closing
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The Challenges
Out of our control
• Crime related loss • Employee turnover • Tough Economy
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Crime Related Loss
• Types of crime related loss – Employee – Customer – Vendor
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Employee turnover
=
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The Challenges
In our control
• Seasonal Cash Flow • Inventory • The Internet
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Seasonal Cash Flow
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Seasonal Cash Flow
• Early Invoicing • NegoDate with Vendors for off season terms • Funding
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Inventory
In our control
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The Challenges
In our control
• Seasonal Cash Flow • Inventory • The Internet
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The Internet
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Tough Economy
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The Challenges
In Our Control • Seasonal Cash Flow • Inventory • The Internet
Out of Our Control • Crime related loss • Employee turnover • Tough Economy
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Ask Yourself
1. Offer top level customer service? 2. Provide quality products? 3. Deliver on what is promised? 4. Take good care of your employees? 5. Do you think outside the Chocolate Box?
Are you in control of your business? Do you…
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The SoluDon
“The goal of a company is to have customer
service that is not the best but
LEGENDARY.” Sam Walton