1. Accounting Software Used By Big 4

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Information System of Big Bazaar: Function of MIS Two centralized servers are used by the MIS viz. The main server and The other a backup server which can take over from the main server with-in 5 min, if there is any problem. Each of the servers has its own storage system with mirroring hard disks (15 hard disks storing the same info simultaneously). The information is backed up continuously on CDs every day. The entire system is backed by an excellent electrical wiring by JD International (electrical maintenance dept). Weakness: Conclusion:- What we have seen above is a critical analysis of the Informational System prevailing in the Big Bazaar, which is one of the largest retail stores in Bhubaneswar. The applicability and effectiveness has ensured that Big Bazaar has excelled in a place like Bhubaneswar and become as pioneer in the industry.

This has been largely due to a radical and perfectly functioning Information Systems. The effectiveness of the IS is greatly brought out by the efficient supply chain and delivery system that Big Bazaar have. They have achieved top spot in retail with in Bhubaneswar and are excelling in other places as well.

Price: Price Value Pricing (EDLP – Every Day Low Pricing): Big Bazaar promises consumers the lowest available price without coupon clipping, waiting for discount promotions, or comparison shopping. Promotional Pricing: Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs. 49, etc.) is used as promotional tool. Big Bazaar also caters on Special Event Pricing (Close to Diwali, Gudi Padva, and Durga Pooja).

Differentiated Pricing: Time pricing, i.e., difference in rate based on peak and non-peak hours or days of shopping is also a pricing technique used in Indian retail, which is aggressively used by Big Bazaar. Bundling: Selling combo-packs and offering discount to customers. The combo-packs add value to customer.

Place: Place Supply Chain Management The food supply chain is complex and difficult to manage due to its perishable nature and short shelf life of the products as compared to other supply chains like electronics, home needs, consumer durables etc. It also requires a robust infrastructure of warehouses and transportation network connecting suppliers, manufacturers, distributors and retailers. The complexity of food supply chain increases further because of the below mentioned parameters.

Food safety requirements Regulatory requirements Short shelf life of products leading to expiry and wastage Product recalls Product traceability requirements Effective handling of customer complaints High order frequency and low volumes. Promotion: Promotion Bring anything old and get anything new’ at Big Bazaar's 'The Great Exchange Offer’ The value will be in the form of coupons, which can then be used by customers to get extra savings of 20-25% over & above the special offers running in-store. Big Bazaar introduced Family Centre This Family Center aims to build and nurture relationships with customers of multiple communities, be they Bengalis, Christians, Muslims, Marwarisbecoming the preferred shopping destination for their entire family. Promotion: Promotion Co-Branding – ICICI Bank Ltd.

Exclusive Benefits No Finance charges on EMI Purchases at Big Bazaar. On a purchase of Rs.1500 and above in a single transaction, you can pay back the amount in 3 equal monthly installments, without incurring any financing charges. You also get 1 Reward Point per Rs 100 of EMI purchase (This scheme is optional and has to be availed before using the Credit Card for the purchase, at predestinated ICICI Bank terminals). Get Voucher worth Rs 250 to be redeemed against purchase of Rs.500 or more at any Big Bazaar Outlet on payment through the ICICI Bank -Big Bazaar Credit Card. Get 1 Kg sugar FREE per month.

Promotion: Promotion Co-Branding – ICICI Bank Ltd. Exclusive Benefits 6 reward points on every Rs. 100/- spent at Big Bazaar (Except EMI Purchase) 1 reward point for all non Big Bazaar purchases. Special payment counters for Cardholders. Priority entry to Cardholders during high traffic.

Special preview day during annual sale at Big Bazaar. Exclusive offer for Cardholders from time to time. Regular features of ICICI Bank Sterling Silver Card and facilities of Big Bazaar. All Rewards points earned can be converted into Big Bazaar Vouchers.

Promotion: Promotion Co-Branding – ICICI Bank Ltd. Other Benefits Comprehensive Insurance for primary Cards upto Rs. Baggage insurance upto Rs. Hospitalization Benefit policy upto Rs.25,000. Purchase protection of Rs.20,000. Comprehensive travel related insurance.

Zero Lost Card liability. Dial a draft at 1% fee. Lifetime Balance Transfer offer: 0.75% for first 6 months (9% p.a.), followed by 1.49% (17.88% p.a.) thereafter.

Comprehensive Travel Benefits. Accepted at over 22 million merchant establishments globally. People: People At the senior management level, the group hired high profile executives from reputed organizations like Goldman Sachs, Coca-Cola India, PRIL also tied up with a few management schools to create a management talent pool for the lower levels. Well-trained staff, the staff employed by Big-Bazaar are well-suited for modern retail. Employ close to 30,000 people and employ around 500 more per month. Well-dressed staff improves the overall appearance of store.

Use scenario planning as a tool for quick decision making multiple counters for payment, staff at store to keep baggage and security guards at every gate, makes for a customer-friendly atmosphere. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. Physical Evidence: Physical Evidence Big Bazaar stores are normally ‘U shaped’ and well planned & designed Stylized to provide ample space to move around the store lay out has been designed to give a very contemporary and international look with wide aisle for easy movements.

Products are displayed and highlighted with customer friendly signage's, lighting and fixtures to enable hassle-free shopping for all. Products in Big Bazaar are properly stacked in racks. Throughout the store there are boards/written displays put up which help in identifying the location of a product. Appropriate racks. Strategies @: Strategies @ Influence of Sarvana Stores Located in Theyagraya Nagar, Chennai Many people think that Big Bazaar was inspired by Wall-Mart but the truth is that Kishore Biyani and his team members are neither inspired by US ways of doing retailing nor they have been to US much. The credit for foundation and inspiration goes to Saravana Store, a family-run 25-years-old store, whose philosophy was – low margin, high turnover.

In that store, food, groceries, clothes, everything had a separate section. It had around 120 people just to manage crowd. The single shop was doing business of more than INR 200 Crore per year. This shop was the template for Big Bazaar.

Strategies @: Strategies @ Right Product Mix: To overcome lower gross margins of 10 to 12% on Food & Grocery (F&G), retailers are trying to optimize the product mix of F&G and General merchandise. A product mix comprising 40% food and 60% of non-food could enhance gross margins to a respectable 18-19%. Big Bazaar is able to do even better with 63% of non-food.

More Non-food Display: Higher non-food sales are achieved by allocating higher shelf and display space. Food display space is restricted to around 20%. This works, because shoppers, in any case, are there to shop for food items. F1 2007 game. Strategies @: Store Labels: Hypermarkets are also working hard to discourage sales of branded products.

Accounting Software Used By Big 4

They are promoting their own labels, though, it is not easy to promote them beyond a point due to strong customer brand loyalties for a class of goods, such as, FMCG. Big Bazaar has been able to touch only 15%. Increased Volumes: “ Suppliers themselves are willing to give away more if the volumes are high enough ”. Bypassing Middlemen: Big Bazaar is also striving hard to keep costs in check by improving sourcing efficiencies. By pruning on the middleman and reaching farm gates, Big Bazaar is able to improve margins. “ There are too many middlemen ” says Mr. Kishore Biyani.

Strategies @. Strategies @: Real Estate Game: For a retailer, location is one of the most important things. According to Kishore Biyani, real estate cost should be less than 5% of total sales of store in order to provide maximum benefits to customer. The strategic decisions to secure spaces before other retailers join in have resulted in cost-saving. Also, it has created early presence in market. Nurturing Relationships: Kishore Biyani follows strategy to develop trust and nurture relationships with suppliers.

This trust led to strategically correct decisions most of the time. Whoever works with Future Group, either leaves in initial deals or continues forever. Back-end Operations, Supply Chain: Harvard Business School just did a case study on Future Group’ Supply Chain and it says that Future Group’ is the most cost-effective supply chain in the world. India may not have a modern supply chain but it definitely has a cost-effective one. Strategies @.