The purpose of this report is to determine whether it would be feasible for the Style Shop to add a computerized register to the store.
The Merchandising Society is the largest club on F.I.T.’s campus. It provides the opportunity for its members to enhance their college experience at the Fashion Institute of Technology. Its members are dedicated to gaining exposure to the fashion industry first-hand through running a business, visiting companies worldwide, and volunteering services to the community.
The club is responsible for operating a successful on-campus boutique, the Style Shop. The store offers the unique opportunity for FIT students, faculty and alumni to sell their original creations on a consignment basis. This not only allows students to earn recognition and profit, it enables Merchandising Society members to gain experience in buying, product development, marketing, finance, customer relations, management, visual merchandising, and website development. The Style Shop offers students the chance to develop a sharper awareness of group dynamics, build professional relationships, and actively participate in our college education.
Currently the store uses a non-computerized register. There is no computerized inventory or bar codes used. Everything is done by hand. The addition of a computer would not only help keep track of all purchases by time, it would allow for the finance team to plan sales and monitor loss. The Style Shop uses a budget handed out by FITSA to fund purchases and stock for the store. This budget would be used to purchase a computer. It is highly feasible that the Style Shop purchases a computer and a register program.
The purpose of this report is to determine the feasibility of adding a computerized register to the Style Shop team.
During the 2001/02 school year the Merchandising Society has over 180 active members. The store currently has no regulated computerized system. Inventory and tickets are all manually printed. By adding a computer to the store, inventory and sales could be more easily monitored. The computer would also serve as a ticket printer and finance station.
The addition of a computerized register would make the flow of goods in and out of the Style Shop easier. By adding a computer to the store each Merchandising Society member would have to be trained on how to properly ring up a sale. Buyers would have to be trained to receive their merchandise and print tickets. The finance team would have to learn how to print sales reports and track inventory. Security would also have to be increased in the store. Finally, a printer would have to be purchased to work with the computer.
To purchase a computer for the Style Shop money will be taken from our budget. We started the
year with an $8000.00 budget and currently have around $2000.00 left.
Tentative Available Money
$7,400.00 Total as of 4/17/02
4,960.00 After Designer Payments
3,960.00 After Jenna paid back
3,710.00 After Nail files
3,510.00 After Trunk Show event
2,510.00 After Murder Mystery Dinner
2,010.00 After Payment for Website
The Style Shop is looking to purchase a computer from Dell because of their excellent customer service and great overall value. For a small business the Dell Dimension 8200 Series is perfect. This computer comes fully loaded for $1677.00. After purchasing the computer there will be $500.00 left in the store’s budget. This money will be used to purchase a point of sale program.
In order to monitor sales and inventory the store will be purchasing Winward Software as a P.O.S. system. This program is simple and easy to learn. Winward Software will track inventory, print reports, receive stock, and print bar codes. The software package is able to be downloaded onto a Windows system and will be purchased for $398.00. By purchasing this P.O.S. package we will remain within our budget and fulfill all of our accounting needs.
The Finance would be responsible for printing the following reports from the Winward P.O.S. system: Weekly sales, inventory, semester sales, and sales by product classification. By using Microsoft Money the Finance Manager can keep track of team expenses, account transactions, and account balance.
Each buyer (industry, designer, product development) would be responsible for ensuring that all new stock is inputted into the inventory system and that all items are ticketed with the appropriate bar code.
Point of Sale
Each purchase would be rung up with the P.O.S. system. By each item being scanned into the computer this will lower the chance of inventory loss.
Upon joining the Merchandising Society each member is required to work an hour each week in the Style Shop. Members are also required to attend a register training session to teach them store procedures. All members would be trained on the new computer during the register training session. In the store there would be a FAQ sheet available as well as a list of store procedures in case members need to refer to something.
In addition to Co-Managers having a full understanding of the computer/register three more managers would also have to be fully trained on the system. First, Store Operations would have to know the P.O.S. system because they are required to make sure that each member is trained. Store Operations Manager is also required for opening and closing the store. Next, the Finance Manager would have to know how to print weekly sales and inventory reports. The Finance Team would be responsible for learning Microsoft Money, a system that would calculate the Style Shop’s account balance and transactions. Finally, buyers would have to be trained in receiving new merchandise and printing bar code tickets for stock.
Adequate training of all appropriate members and managers will ensure that the Style Shop cash flow and account are always accurate.
The Style Shop is open from September through December and February through May. During store hours the computer will be the responsibility of the Store Operations Manager. They are responsible for opening and closing the store each day. They will also be in charge of closing all curtains at night so that passers-by cannot see the computer in an empty store.
When the Style Shop is not in operation the computer will be disconnected and stored in the Style Shop closet on the 7th Floor of the A-Building. This closet is only accessible to Style Shop Managers.
The Style Shop is a growing student run boutique on F.I.T.’s campus. Each semester the store’s sales increase. The store needs a better way to track sales and inventory. By purchasing a computer Managers would be able to effectively track sales, inventory, and expenses. The total cost for the computer and register system is just under $2000.00. The money to purchase the computer/register would come out of the Style Shop budget given to the store by F.I.T.S.A.
The Style Shop is an expanding establishment at the Fashion Institute of Technology. The addition of a computerized register would increase productivity within the store. It is recommended that the Style Shop use their budget and purchase a computer.
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