You currently work for a retail store that carries basic household goods, some g

Question

You currently work for a retail store that carries basic household goods, some groceries, and health and beauty products. The store is located in the small community (approximately 5,000 total residents) in which you live and is looking to expand its operations in some way.

For this assignment, you are required to develop a major project proposal to be undertaken by your employer. You may decide to expand your product offerings or open an additional store in an adjacent community, for example.

Your project proposal must include the following components:

Project title

Project manager (yourself)

Problem definition or project rationale: Describe the problem or opportunity for improvement.

Goal definition: Describe the project goals.

Objective definition: Quantify the savings or benefits you expect from completing this project. How much will it cost (hours, materials, methods, equipment, etc.)? Estimate how long the project will take to complete.

Resources: Identify the resources necessary to complete the project.

Risk analysis: Identify the major risks associated with undertaking this project. How likely is it that these risks will occur? How will the project be impacted if these risks occur?

Mission Statement (who we are): The Retail Store offers our customers convenience, quality, and great    prices. By doing so, we strive to make each and every community a better place to live.

Vision Statement (who we strive to be): The Retail Store strives to be the leading retailer as measured by fiscal results and community improvement advocacy within every small community.  

   Fast Facts:
$3.2 million in sales the last fiscal year Three stores in one state (three different small towns) Store size = 2,500 square feet About 2,500 core products from America’s most-trusted manufacturers Three distribution centers 30 employees
   “Must” Objectives:
Achieve annual sales of at least $5 million. Participate in the improvement of at least 10 low income communities throughout the state. Expand core product offerings by 10% within a 2-year time frame.
   “Want” Objectives:
Expand size of stores by 10%. Open at least one store in a neighboring state within a 5-year time frame

Explanation / Answer

Title : To increase the sales turnover of ABC retail from 3.5 million to more than 5 millions

Project Manager : Robert D.

Problem definition or project rationale :

There is good scope to exand the business by offering home delivery services in the nearby area. Adding a section of mobiles & accessories & small electronic gadgets to an existing outlet which will increase the product offerings.This could take the offerings from 2500 products to around 3000 products in each of 3 Stores.

Goal definition: To cross the annual sales by $5 million by expanding the product offerings and home delivery   service in the radius of 5 kms.

Objective definition :

Benefits from this project after completion

The annaul sales will grow by 25-30 % as the new product section and another 10 to 12 % will be added by home delivery services which will help to achieve the annual sales of $5 millions and also the core product offerings will go up by around 15%.

Here the cost of new store, employees, products, infrastructure is saved as the we are using our existing assets. However the furniture and stocks will add up the cost depending on the items to be offered along with 15 new employees to be recruited 5 in each store.

It will take around 60 days to complete this project. This time period of 60 days will be utilised for creating a separate sections for mobiles and other electronic gadgets, putting the furniture ,& training the employees , creating the home delivery policies etc. in all the 3 existing stores.

Resources:

1.The new 15 employees to be would be from low income communities who qualifies the job requirement.

2. Expertise on stocks to be kept will be taken from business counsellor .

Risk analysis

The only risk that could arise is of home delivery service.There might be fake oders, low volume order, orders outside the set radius which could degrade the brand image. But this is less likely since we could use technology for reducing such incedents. There would not be any risk in the new offerings of the product as the customers already purchase basic household goods. New offerings would be an advance of the basic offerings.

Mission Statement : To offer the best quality products and services to every citizen in great prices, making the lives better.

Vision Statement :   We want to be the no.1 retail store not just by fiscal results but also by community improvement advocacy within small community.

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