History of the Retail Industry

Write the history of the retail industry chosen. JUSCO  is the  acronym  for  Japan United Stores Company, a chain of â€Å"general merchandise stores† (or  hypermarket) and the largest of its type in  Japan. The various JUSCO companies are subsidiaries of  AEON Corporation Ltd. The JUSCO name was adopted in 1970 by a company originally founded as a kimono silk trader in 1758. Renamed AEONin 1989, it operates stores throughout  Japan  under JUSCO and other names and also has a presence in  Malaysia,  Hong Kong, mainland  China, and  Thailand.As of March 1, 2011, all JUSCO and SATY stores under the Aeon umbrella in Japan officially changed their names to AEON while all the JUSCO stores and shopping centres in Malaysia are fully re-branded into AEON since March 2012. However, JUSCO stores still operate in the Greater China region and some others. In 1985 the first JUSCO overseas store was opened, in  Plaza Dyabumi,  KualaLumpur,  Malaysia,  as a jointly-owned company with  Cold Storage  and three local companies. It was the first time that a Japanese company had entered into a significant joint venture in the Malaysian retail industry.JUSCO assumed total operational control of the chain in 1988. Currently. there are 20 AEON (formerly known as JUSCO) Retails stores and shopping centres are in operation in Malaysia. The oldest (though not the first) JUSCO store in Malaysia is JUSCO Taman Maluri in  Cheras, Kuala Lumpur. It opened on 30 October 1989. 2. List some products and services available at that retail business. Products -Coca Cola, Pepsi, 100Plus, 7-Up and other soft drinks – Junk Foods, Sushi, Fried Chicken – Shampoo, Shower, Toothpaste, and many other Daily necessities Services -FREE Gift with JUSCO J CARD Renewal â€Å"No Plastic Bag Day† at JUSCO -Jusco Home Furnishing Year End Stock Clearance Sale 3. Describe the Value Chain of the chosen retail industry (business receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers). Partnering with Vendor > Buying > Managing Inventory > Distributing Inventory > Operating Stores > Marketing and Selling. 4. Visit the website of retail business and discuss the information that would be useful to customers and clients of that business. AEON Company BHD. formerly known as Jaya Jusco Stores Bhd. ) is a leading retailer in Malaysia with a total revenue of RM3. 73 billion in the financial year ended 31st December 2009. The AEON group of companies consists of AEON Co. Ltd. , and more than 150 consolidated subsidiaries and affiliated companies. In addition to its core general merchandise stores (GMS) plus its supermarket and convenience store operations, AEON is also active in specialty store operations, shopping center development, operations and services. 5. Why the chosen retail business is known to be successful / not successful?The retail busi ness I’ve chosen is known to be successful. The reason why Jaya Jusco success in thier business is they have a very good principal. Regardless of how times may have changed, Jusco always serve the  Ã¢â‚¬Ëœ Customer First ’. The customers are satisfied, therefore they will go to Jusco again without any doubt. Secondly, the price are reasonbable and it is affordable by everyone in this big city. 6. Is the chosen retail business is a local based industry of international and who are the target market of this retail business?Yes, Jusco company is a local based industry of international. They aim all of the citizen as thier target market. Jusco company not only sells daily necessities, but also toys for kids as well. In addition, the kitchen stuff are for sales as well in Jusco company. Customers can even buy the clothes they like in Jusco. Therefore, kids, teenagers, adults, and old folks are the target market of this retail industry. 7. Describe thier Operations, and Ma nagement. Improving the quality of Jusco’s staff with OUM.On 4 August 2006, AEON Company BHD signed a Memorandum of Understanding with OUM (Open University Malaysia) for the Executive Diploma(in Trade Management, Human Resource Management and Retailing) Programme. AEON was represented by the Managing Director, Mr. Nagahisa Oyama and OUM was represented by Prof. Tan Sri Dato’ Anuwar Ali. A welcome ceremony was also held for the first batch of 69 students. On 18 December 2006, 31 AEON staff members were awarded their Diploma in Management (Retailing) at OUM’s 3rd Convocation ceremony, held at the PWTC’s Dewan Merdeka.The 24 apprentice and 7 international staff members received their Diplomas from the Pro Chancellor, Tan Sri Dato’ Azman Hashim. Japan Trainee Program The 5th batch of trainees who successfully completed the Japan Trainee Programme returned to Malaysia on 17 January 2007. They are now all holding positions as leaders in their respective stores nationwide. The Japan Trainee Programme is designed to help selected leaders prepare for the ever-changing retail environment, by exposing them to overseas working conditions. One of the vital ways to enhance their knowledge and skills in retailing is by giving them some experience in AEON Japan.This programme also teaches them to be independent, in preparation for their future roles as leaders in the Company. The AEON Business School The AEON Business School is an intensive course for the benefit of merchandisers, store managers and deputy store managers organised by AEON. To celebrate the successful completion of the course, a special closing ceremony was held on 22 September 2006. 8. Why Supply Chain Management (SCM) and JIT is important in this business and how do this business retain thier suppliers and customers.Supply Chain Management deals with linking the organizations within the supply chain in order to meet demand across the chain as efficiently as possible. Why is supply chain management so important? -To gain efficiencies from procurement, distribution and logistics -To make outsourcing more efficient -To reduce transportation costs -To meet competitive pressures Just in time  (JIT) is a production strategy that strives to improve a business  return on investment  by reducing in-process  inventory  and associated  carrying costs. Why is JIT so important? Reduced setup time -The flow of goods from warehouse to shelves improves -Employees with multiple skills are used more efficiently -Production scheduling and work hour consistency synchronized with demand -Increased emphasis on supplier relationships -Supplies come in at regular intervals throughout the production day -Minimizes storage space needed -Smaller chance of inventory breaking/expiring 9. Discuss on how quality is taken care in this business, you may explain in the context of ISO. Finding Employees with Ownership.Ownership is something that is easily recognized, but no t easily defined. An obvious illustration of ownership can be found in real estate. Generally when you own a property, you treat it with respect, keep it in good repair, and make improvements to protect your investment and increase its value. Many managers don’t know there is such a thing as ownership until they accidentally hire someone with it. Suddenly the sharp contrast between the employees with the owner mentality and the employees with the renter mentality becomes apparent.The newly awakened manager can now see that the quality of ownership brings with it the kind of proactive  and productive behaviors that get things done and get them done well. Since employees with ownership are usually self-directed and low maintenance, managers find that they have few time-consuming supervisory hassles with them. Liking what they see, managers instantly want more of this ownership stuff, but since they’re not sure how they got it in the first place, they’re not sure how to go about getting more employees with it for the future. 10. Draw the layout of the retail industry.