What are the 6 Rights of Merchandising Costco?
"The Six Rights of Merchandising"
Our merchandising philosophy, very simply stat- ed, requires that we have the Right Merchandise, in the Right Place, at the Right Time, in the Right Quantity, in the Right Condition, at the Right Price.
In order to achieve our mission, we will conduct our business with the following Code of Ethics in mind: Obey the law. Take care of our members. Take care of our employees.
Costco core values include “obey the law, take care of our members, take care of our employees, and respect our vendors.” The company has a strong track record of running its business in such a way that it passes out as a role model for other players in the sector.
Merchandisers are responsible for controlling advertisem*nts and related setups in grocery stores for specific items, as well as traveling to different stores to restock and remove items within stores. They are also tasked with keeping things clean, retagging shelves, and stocking new items upon delivery.
A Costco merchandiser is also usually tasked with the responsibility of ensuring that retail and online stores are stocked with the right quantities and the right products also. He/she is responsible for maintaining and arranging product displays, stocking shelves, pricing products, and monitoring the store inventory.
Say you read that Costco has the most highly motivated and satisfied employees in the U.S. and was named Americas Best Employer in 2017 by Forbes. Say you enjoy the products and the customer service you get and because of this, you would be happy to work for them.
Costco is obviously known for having a terrific workplace environment, but it's not just the pay that makes it awesome. Employees enjoy lots of great benefits (more on that in a minute) and plenty of perks on the job as well. One of the best has to be the fact that they're able to shop after hours.
The five rights include providing the (1) right merchandise, at (2)the right place,(3) at the right time, (4)in the right quantities, and (5)at the right price. Merchandising may provide value to retailers within the consignment sector, as they never formally purchase their stock.
The five rights include providing the right merchandise, at the right place, at the right time, in the right quantities, and at the right price.
- Design with the Consumer in Mind. The goal of Visual Merchandising is to provide a great experience to your customers – the sale itself will follow. ...
- Activate the Brand. ...
- Engage All Senses. ...
- Leverage Interactive Experiences. ...
- Focus on Execution.
How Costco manages its inventory and supply chain?
How? By intentionally stocking fewer items than its competitors—and employing inventory management practices that successfully reduced costs throughout its operations. While the average grocery store carries around 40,000 items, Costco limits its offerings to about 4,000 products, or 90% less!
