Paper type: Essay Pages: 5 (1094 words)
7-eleven has made its mark in Malaysia for over 25years which was started at 4June 1984. It is the largest 24-hour convenience store in Malaysia. 7-Eleven has achieve 1183 store of franchise all around Malaysia and it servers over half a millions of customers daily.
Each 7-Eleven stores carry over 2,000 products and do have their own proprietary brands which is Slurpee frozen beverages and Big Gulp fountain soft drink. Package food and bakery provided to provide full convenience to customers.
Those foods are certified HALAL and the quality have to be undergo quality control process before serve customers.
Besides products, 7-eleven do provide service includes the sales for mobile phone reload cards, photocopy, fax, and ATM machine.
7-Eleven will always be there for you.
To be the best retailer of convenience
To consistency server the changing needs of the customers for the convenience History:
7-Eleven was the first established to meet the needs of customers all the time. From producing and selling ice block back in 1927, 7-Eleven gradually developed a new business idea gaining popularity to become one of the stop center providing convenience to customers. The store originated from Dallas, Texas expanded the product list thereon, and 7-Eleven was born.
The name 7-Eleven was adopted to reflect the store’s business hours i.e. 7am to 11pm. Although 7-Eleven now operates 24 hours a day, the name is still in use as it has become synonymous with convenience.
7-Eleven in Malaysia was incorporated on June 4, 1984 by the Berjaya Group Berhad. The first 7-Eleven store in Malaysia was opened in October 1984, in Jalan Bukit Bintang, Kuala Lumpur. In October 2008, 7-Eleven achieved a milestone opening of its 1,000th store in Bandar Sunway, Selangor. It is today the undisputed market leader in convenience store chain landscape in Malaysia. Current Situation:
7-eleven Malaysia currently operates 1183 stores all over Malaysia at the end of September 2010 and over 2000 items in a store. Currently they serve over a half a million customers daily. When the current 7-eleven stores are compared with the stores which were established on early 90’s, they are much more largely operated, more items, and more close to customers. In Malaysia 7-eleven is the undisputed market leader in convenience store chain landscape in Malaysia.
The current 7-eleven stores are more close to customers as they provide most daily needs for customers and they include mobile phone reload cards, ink cartridge refill, photocopying, fax, automated teller machines and bulletin board for neighborhood community notices. In 2009 7-eleven introduced fresh brewed coffee and other hot beverages together with packaged fresh food and bakery for customers who are looking for ready-to-eat hot food and is certified HALAL.
7-eleven won the Malaysia retailers-chain Association’s national growth platinum award and Malaysia Franchise Association Best sales Growth award in 2009 respectively. Apart from that 7-eleven Malaysia won the unveiled “Slurpee Nator” in 2010. This is the current situation of 7-eleven stores in Malaysia and the number of stores are keep on increasing throughout Malaysia in order to serve the changing needs of customers for their convenience. Challenges facing by 7-Eleven:
Challenges facing by 7-Eleven are: (1) Common Merchandising & Financial Challenges; (2) Common IT Challenges The Common Merchandising & Financial Challenges:
Mainly there are 6 common financial challenges decided by 7-eleven, they are: 1)Ensure accurate & timely information on inventory holding at any point in time for decision making 2)Ensure all transactions are accurately captured in AP and GL 3)Ensure right item purchases based on sales trends, volumes, margins 4)Ensure correct item costing (direct & disturbed)
5)Transparency & visibility of all inventory purchases and movements at all level 6)Monitoring of suppliers performance
7-eleven organization has to be sure that that they have accurate and timely inventory holding for decision making at the first point. As 7-eleven is a 24 Hr store chain its main aspects is inventories. 7-eleven have to record all the transactions in each and every store in order to manage the money in and out. This is happens to be a major financial challenge to each and every organization as well. The more accurate you capture all the transactions the more profitable for the organization.
7-eleven main business activity will be purchasing inventories, delivering to stores and selling. At this point 7-eleven have ensured that right items are purchases based on sae trends, volume and margins. Sales trends and customer tastes changes day by day.
This is a financial challenge faced by 7-eleven. Cost is major factor that affect the customers. If the price is too high there is a risk that customers are going to change to another product or change to another store. At this point ensuring correct item costing is another financial challenge met by 7-eleven.
Monitoring suppliers’ performance can be considered as another financial challenge. If the goods are not t supplied to the store at the correct time there won’t be any stock to sell. Which means 7-eleven is losing money as well as customers. So they have to make sure that supply and deliveries are done properly. Common IT Challenges:
When you move with Information technology you will have to face many challenges as well. There are 6 common IT challenges met by 7-eleven organization. Which are as follows: 1)Lean & future proof technology
2)Ease of Database Management – single database
3)System & infrastructure Scalability
4)Optimization of shared IT resources
5)Application depth ease of use & ease of customization
6) Reduce unnecessary infrastructure costs.
Managing organization database is not an easy task as the number of data increase, keeping track of data, editing, and input of data will be a challenge for the organization. At this point ease of database management is a major IT challenge for 7-eleven.
A computer system’s infrastructure would include the operating system, database management system (DBMS), communications protocols, compilers and other development tools. The load on server keeps on increasing day by day as business expands and customer’s base increases. So system and infrastructure scalability will be much more helpful for the organization.
IT infrastructure costs are one of the main challenges for organization as they reduce company’s profit. So reducing unnecessary infrastructure costs in another common IT challenge face by 7-eleven to maximize their profit.
Apart from that Lean & future proof technology, Optimization of shared IT recourses, Application of depth, ease of use and ease of customization are other challenges 7-eleven has to face. Once you have overcome these challenges it will be much more easy for the organization to run with low cost, efficiently and effectively. http://wikipages.com/index.php/IM-25-4008-00L:_7eleven
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Ya Kun Kaya Toast. (2016, Apr 15). Retrieved from https://studymoose.com/ya-kun-kaya-toast-essay