Retailing Industry Essay

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1.0 BACKGROUND OF INDUSTRY

Retailing defines as the business activities that related to the selling of goods and services either for personal consumption or non-business use (Mohd, 1990). The retailing industry in Malaysia has gone through a period of continuous and market change over the years. Due to the increasing number of retailers in Malaysia, the retailing industry is seen as a highly competitive business (Heng et al., 2011). To sustain in this industry, existing players must know how to attract new customers and retain them. New players elsewhere must know how to attract customer to visit their stores. Retail industry is mainly made up of shopping malls, hypermarkets, supermarkets, departmental stores and specialty stores (Gondasamy,
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During that year Mydin set up 30 units of CK61 mobile computers that integrated with EX25 near far scan engine in order for scan 1D and 2D barcodes. Besides, as a retail and wholesale company, one of the most important systems is the company’s need to implement is asset tracking and the inventory system. However, by using the latest technology Managing Director of Mydin itself also can get easy to access the status of company inventory. Other than that, when using the IT in the operation, it will help the management to manage the inventory with…show more content…
The main function of benchmark is to learn best examples and practices what drive good performance. Mydin can go further if they can learn from other best company in the retail industry. They can benchmark Wal-Mart in their strategy. Wal-Mart is the number one in retail industry and one of most powerful company in world. Wal-Mart competitive advantage is its supply chain process (Gupta, 2002). They have a close relationship with the suppliers which make them gain access inventory faster than their competitors. Wal-Mart fully utilizes the use of technology with supplier, logistics and efficient store management. Other than that, Wal-Mart key success because of their dedicated and committed work force (Gupta, 2002). They emphasize that employee is the key source that work company growth. They give training and develop a good discipline and motivation in their workers. Mydin can benchmark Wal-Mart and take all the best strategy used by Wal-Mart. Mydin need to build close and strong relationship with their supplier in order to sustain and satisfied their customers. Development of information technology could make them interact more with their supplier and achieve good understanding in performing supply chain activities. Moreover, it could ease to communicate and increase level of interaction to each other. Mydin could take example

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