1. RETAILING AND WAREHOUSING

2. RETAILING D efinition Retailing is a distribution process, in which all the activities involved in selling the merchandise directly to the final consumer (i.e. the one who intends to use the product) are included. It encompasses sale of goods and services from a point of purchase to the end user, who is going to use that product.

3. TYPES OF RETAILING STORE RETAILING Department store is the best form of store retailing, to attract a number of customers. The other types of store retailing includes, speciality store, supermarket, convenience store, catalogue showroom, drug store, super store, discount store, extreme value store. Different competitive and pricing strategy is adopted by different store retailers.

4. NON- STORE RETAILING It is evident from the name itself, that when the selling of merchandise takes place outside the conventional shops or stores, it is termed as non- store retailing. It is classified as under: Direct marketing: In this process, consumer direct channels are employed by the company to reach and deliver products to the customers. It includes direct mail marketing, catalog marketing, telemarketing, online shopping etc.

5. Direct Selling: Otherwise called as multilevel selling and network selling, that involves door to door selling or at home sales parties. Here, in this process the sales person of the company visit the home of the host, who has invited acquaintances, the sales person demonstrate the products and take orders. Automatic vending: Vending machines are primarily found in offices, factories, gasoline stations, large retail stores, restaurants etc. which offer a variety of products including impulse goods such as coffee, candy, newspaper, soft drinks etc.

6. CORPORATE RETAILING It includes retail organizations such as corporate chain store, franchises, retailer and consumer cooperatives and merchandising conglomerates. There are a number of advantages that these organizations can achieve jointly, such as economies of scale, better and qualified employees, wider brand recognition, etc.

7. WAREHOUSING Holding or preserving goods in huge quantities from time of their purchase or production till there actual use. Warehousing or storage refers to the process of holding and conservation of goods till they are dispatched to the customers.

8. FUNCTIONS OF WAREHOUSING 1. Storage: This is the basic function of warehousing. Surplus commodities which are not needed immediately can be stored in warehouses. They can be supplied as and when needed by the customers. 2. Price Stabilization: Warehouses play an important role in the process of price stabilization. It is achieved by the creation of time utility by warehousing. Fall in the prices of goods when their supply is in abundance and rise in their prices during the slack season are avoided.

9. 3. Risk bearing: When the goods are stored in warehouses they are exposed to many risks in the form of theft, deterioration, exploration, fire etc. Warehouses are constructed in such a way as to minimise these risks. 4. Financing: Loans can be raised from the warehouse keeper against the goods stored by the owner. Goods act as security for the warehouse keeper. Similarly, banks and other financial institutions also advance loans against warehouse receipts. In this manner, warehousing acts as a source of finance for the businessmen for meeting business operations.

10. 5. Grading and Packing: Warehouses nowadays provide the facilities of packing, processing and grading of goods. Goods can be packed in convenient sizes as per the instructions of the owner.

11. ADVANTAGES OF WAREHOUSING Protection and preservation of goods It provides protection to the stocks, ensures their safety and prevents wastage. It minimises losses from breakage, deterioration in quality, spoilage etc. Regular flow of goods Many commodities like rice, wheat etc. are produced during a particular season but are consumed throughout the year. Warehousing ensures regular supply of such seasonal commodities throughout the year.

12. Continuity in Production Warehousing enable the manufacturers to carry on production continuously without bothering about the storage of raw materials. It helps to provide seasonal raw materials without any break, for production of finished goods. Convenient location Warehouses are generally located at convenient places near road, rail or waterways to fecilitate movement of goods. It reduces the transportation costs.

13. Easy Handling Heavy and bulky goods can be loaded and unloaded by using modern machines, which reduces handling costs. Mechanical handling also minimizes wastage during loading and unloading. Creation of Employment Warehouses creates employment opportunities. It is a source of income for the people, to improve their standards of living.

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