Management Accounting

Unit 7
Budgetary Control II
Table of contents
7.1. Introduction
Learning Objectives
7.2. Concept of Budgetary Control
7.2.1. Meaning and definition of budgetary control
7.2.2. Stages in the process of budgetary control
Self Assessment Questions
7.3. Purposes of Budgetary control
Self Assessment Questions
7.4. Essential factors of effective budgetary control system
Self Assessment Questions
7.5. Advantages and Limitations of budgetary control
Self Assessment Questions
7.6. Summary
7.7. Glossary
7.8. Case Study
7.9. Terminal Questions
Answer Keys
A. Self Assessments Questions
B. Terminal Questions
7.10. Suggested Books and e-References

Conceptual Map

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7.1. INTRODUCTION

Supply chain refers to the network where all the activities of an organization are involved
in creation or sales or the product. In other words, supply chain refers to the process where
activities are involved in delivering material from supplier to the manufacturer then to the
end users of the finished products.

STUDY NOTE: In the previous chapter, retailing, its meaning, its scope
along with two important pillars of retailing has been
Fundamental steps in supply chain studied. Retailing refers to the process where merchandise
management involves
procurement of raw material,
is supplied to the consumers to satisfy their needs and
convert raw material into final wants. In retailing, retailers try to increase sales by
items, then selling them to satisfy performing various promotional activities by displaying
customer demand, delivery of
goods and support after sales
them in retail outlets.
services.
Two important pillars of retailing include merchandise and
supply chain. Merchandise refers to the products that can
be bought and sold whereas supply chain refers to the network through which this

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LEARNING OBJECTIVES
After studying this chapter, you will be able to:

 Explain the meaning of budgetary control

 Explain the advantages of budgetary control
 Explain the purposes of budgetary control
 Determine the process of budgetary control
 Discuss the limitation of budgetary control

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7.2 CONCEPT OF BUDGETARY CONTROL

Supply chain is the network which oversights the flow of information, materials and capital
from vendors to manufacturers, manufacturers to retailers and then from retailers to end
users or customers. Retailing is an important part of the world’s economy as it serves the
need and demand of the end users.

The success of the retail industry depends on how effective is

STUDY NOTE:
the company’s supply chain or its logistics. As the competition
Retail supply chain among companies is increasing, the importance of supply
management refers to the chain is also increasing. Many companies sees their supply
process where information flow
along with products from
chain as a major competitive weapon because if the supply
retailers to consumers ensuring chain of any company is insufficient then they may not deliver
product quality. quality goods on time and does not satisfy their customer’s
demand due to which other competitors may take advantage.

If the supply chain management in retail organization is effective then the company may
take competitive advantage by lowering the cost and it effects top line growth of the
company. Customers are demanding more services at lower cost as the competition in
retail industry is increasing.

The major difference between retail supply chain and other types of supply chain because
of the volume of products supplied from retailers to the consumers. In retail, supply chain
management is very important as it directly serves the need of the consumers or the
clients.

7.2.1. MEANING AND DEFINITION OF BUDGET AND BUDGETARY CONTROL

Supply chain management is the concept that can be used in reference with retail
industries, wholesale industries, manufacturing industries, etc. Some of the definition of
supply chain management is as follows:

 It is the process where raw material is firstly procured from supplier then
converted into intermediate goods then to finished goods and finally to the
consumers who are the ultimate users of the goods and then effective channel of
distribution system is created so that it can be delivered to them as and when
required.

 As per the Quinn’s definition of supply chain, the supply chain refers to all those
activities that are involved in moving goods from procurement of raw material
stage till the distribution stage of the finished goods to the end users.

 Supply chain management is the process that involves movement of merchandise

from vendors to the end users at different stages i.e. from taking raw material for
conversion of it into finished goods and then to supply to the end users.

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7.2.2. ADVANTAGES OF BUDGETARY CONTROL

Supply chain management not only involves activities for managing the movement of
merchandise but also concerned about the information sharing between the supplier and
the retailer. Following are five basic components of retail supply chain management
which are shown below:

 Plan: In this strategic portion of supply chain management process companies

need
SELF to build a plan
ASSESSMENT that defines how resources should be managed so that
QUESTIONS
customers demand for goods and services can be ensured. The companies plan
1. The supply chain management mainly concern with __________.

A. Flow of may

retailer merchandise
make good amount of profit by saving cost and faster delivery of
B. Flow of information
products to customers whenever required. These metrics will help retailer in
C. Both A and
achieving B
excellence in supply chain management.
D. None of the above

2. Which of the following is NOT a component of supply chain management?

A. Plan
B. Make
C. Deliver
D. None

3. Which of the following component provides information related to suppliers from

where raw material is procured?

A. Plan
B. Source
5.C. Which
Deliverof the following principles helps the manager attain supply chain excellence?
D. Make
A. Integration of customer need and supply
B.4. Product
Which of differentiation
the following is/are the benefits of retail supply chain management?
C. Strategic outsourcing
D.A. All of the above
Decrease in working capital requirement
B. Profitable growth
6.C. The
CostITminimization
system should be developed so that _______.
D. All of the above
A. Daily transactions can be managed
B. Reduce supply of goods
C. Increase delivery time
D. None of the above

7. __________component facilitates the customers to return back the defective items or

excess goods.

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ACTIVITY:

Supply chain management decides about the success of retail organizations.

Discuss all the factors that make supply chain more effective and also discuss
the ill effects of the ineffective supply chain management on various aspects
of business such as: profitability, growth, success, cost, etc.

7.3. PURPOSE OF BUDGETARY CONTROL

Following are the key purposes of budgetary control:

1. Planning: All the business activities are anticipated by planning. The first step of
STUDY NOTE: planning involves the deciding the aims and
objectives of company. The expected performance
and the present managerial targets are
incorporated in budget. The financial objectives of
the firm are decided by the budget. These targets
help the business in analysing the future,
overcoming the problems and also guides for the
business operations. The formulation of business strategies is influenced by the

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budgeting. In executing these strategies budgeting consequently assists the business

managers.
2. Communication: For an efficient organization it is necessary to inform all the
people about the policies, programmes, performances and objectives. In order to
attain the goal, each and every one should be very clear about the aims and
objectives and specifically what are their role for the same. This can only be possible
when they participate in the budgeting process. By the help of the budget, manager
can know about the roles of the others and also about the available resources
needed to achieve the targets and objectives.
3. Coordination:Under coordination, all the departmental activities and the factors of
production are balanced and integrated so that the objectives of the organization
can be achieved. Each manager has its specific work of interest which also helps for
the benefit of organization as a whole. In the absence of coordination, every
department of an organization shall work in such a manner that it is beneficial for
their own department, but not for the firm objective as a whole. Hence, budgeting is
very necessary as it ensure the coordination.
4. Control and performance evaluation:Budgets reflects the real estimation of
acceptable and expected performance. By the help of budgets, managers can know
what is expected from them so that they can monitor their own performance. A
budget provides more accurate, reasonable and reliable performance rather than
using a vague expectation or a previous year’s result when the conditions might be
different.

7.3.1. PLANNING OF BUDGETARY CONTROL

There are certain drivers that effect the supply chain management of a retail organization.
In a growing economy it is important to consider all these drivers so that best combination
can be developed that ensure effective or efficient supply chain for retail organization as
supply chain is the key to a successful retail business organization. Each driver has its own
importance in retail supply chain management. Following are the drivers that effect the
supply chain management:

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Figure 1: Drivers of Retail Supply Chain Management

There are certain drivers that effect the supply chain management of a retail organization.
In a growing economy it is important to consider all these drivers so that best combination
can be developed that ensure effective or efficient supply chain for retail organization as
supply chain is the key to a successful retail business organization. Each driver has its own
importance in retail supply chain management. Following are the drivers that effect the
supply chain management:

7.3.2. MASTER BUDGET

There are certain drivers that effect the supply chain management of a retail organization.
In a growing economy it is important to consider all these drivers so that best combination
can be developed that ensure effective or efficient supply chain for retail organization as
supply chain is the key to a successful retail business organization. Each driver has its own
importance in retail supply chain management. Following are the drivers that effect the
supply chain management:

7.3.3. FIXED AND FLEXIBLE BUDGET

7.3.4.

There are certain drivers that effect the supply chain management of a retail organization.
In a growing economy it is important to consider all these drivers so that best combination
can be developed that ensure effective or efficient supply chain for retail organization as
supply chain is the key to a successful retail business organization

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7.3.5.

Each driver has its own importance in retail supply chain management. Following are the
drivers that effect the supply chain management:

SELF ASSESSMENT QUESTIONS

8. Which of the following is directly connected to customers in a supply chain?

A. Manufacturer
B. Retailer
C. Wholesaler
D. Both A and B

9. How many main drivers of a retail supply chain management?

A. Three
B. Four
C. Five
D. None of the above

10. Which of the following is NOT a driver of retail supply chain?

A. Production
B. Inventory
C. Location
D. None of the above

11. Which of the following driver helps the manufacturer to obtain necessary information
about customer’s taste and preferences?
A. Production
B. Inventory
C. Information technology
D. Location

7.4. LIMITATION OF BUDGETARY CONTROL

Manufacturing supply chain may be different from retail supply chain as in

manufacturing supply chain the end users are not the customers. For instance,
manufacturers are responsible for procurement of raw material from various vendors
and process the raw material into finished goods which can be bought by the retailers to
sell them to the end users. Manufacturing supply chain is more complex as they deal
with bulk inventory as compared to the retailers. Manufacturing supply chain requires
more human resources than in retail supply chain.

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Following differences between the manufacturing supply chain and retail supply chain
can be briefly explained:

Table 1: Difference between manufacturing supply chain and retail supply chain
Manufacturing supply chain Retail supply chain
Manufacturing supply chain requires to Retail supply chain requires maintaining
handle bulk inventory more variety as compare to bulk inventory
of same product to satisfy customer needs.
Manufacturing supply chain involves In retail supply chain, processing of
processing of raw material into finished merchandise is not necessary.
goods.
Manufacturer procure inventory In retail supply chain, retailer procures
(particularly raw material) from various inventory from manufacturer or
suppliers. wholesaler.
Generally, goods are sold to retailers at In retail supply chain management, goods
lower prices. are sold to end users at comparatively
higher prices.

SELF ASSESSMENT QUESTIONS

12. Which of the following supply chain is responsible for converting raw material into
finished goods?

A. Retail supply chain

B. Wholesaler supply chain
C. Manufacturing supply chain
D. None

13. In which of the following supply chain, variety of goods need to be maintained to
satisfy customers?

A. Retail supply chain

B. Wholesaler supply chain
C. Manufacturing supply chain
D. None

14. Maximum price of retail goods are set by _________.

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ACTIVITY:

You are required to analyse retail supply chain activities and manufacturing supply
chain activities and draw a diagram that depicts both supply chain. Also define the
complexities involve in retail supply chain and manufacturing supply chain. Which
according to you is more complex and explain the reason?

6.5. BUDGET PERFORMANCE REPORT

Logistics management refers to the minor part of the supply chain management which
includes activities such as flow of various items, information and capital to end users.
Whereas supply chain management is broader concept as it involves following activities:

 Sourcing raw material from various vendors

 Determine the customer requirements
 Conversion of raw material into final products
 Supply products and services to the customers on timely basis

Following are the dissimilarities between logistics management and supply chain
management:

 Logistics management is concerned with maintenance and integration of goods and

supply chain management is concerned with management and coordination of supply
chains in an organization.

 The objective of logistics management is to ensure customer satisfaction by providing

goods and services whereas supply chain management strives to achieve competitive
advantages.

 As per logistics management, only one organization is involved whereas in supply

chain management multiple organizations or parties such as vendors, intermediaries,
distributors and customers are involved.

 The supply chain management is broader concept as it deals with planning,

implementation and effective storage of products whereas logistics deals with
delivering goods to the customers at right time and right quantity.

 Logistics is older concept whereas supply chain management is a modern concept

whose scope is wider as compared to logistics.

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 Activities involved in logistics may include warehousing, packaging, inventory control

and management and order fulfilment whereas activities included in supply chain
management includes various activities interconnected to the movement from raw
material to finished products to end users.

SELF ASSESSMENT QUESTIONS

15. Which of the following does NOT involve multiple organizations?

A. Supply chain
B. Logistics
C. Both A and B
D. None of the above

16. Which of the following among is broader and modern concept?

A. Logistics management
B. Supply chain management
C. Both A and B
D. None of them

17. Which of following activity is NOT involved in logistics management?

A. Flow of goods and services

B. Warehousing
C. Packaging
D. None of the above

6.7. SUMMARY

 Supply chain refers to the process where activities are involved in delivering
material from supplier to the manufacturer then to the end users of the finished
products.
 The success of the retail industry depends on how effective is the company’s supply
chain or its logistics. As the competition among companies is increasing, the
importance of supply chain is also increasing.
 There are five components of retail supply chain management such as plan, source,
make, deliver, and return. These components comprise the whole supply chain of a
retail organization.

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 Importance of retail supply chain management includes cost minimization,

reduction in working capital requirement, profitable growth, fixed capital efficiency,
etc.
 There are certain principles of supply chain management on the basis of which a
retailer may achieve excellence in supply chain. Some of the principles may include
integration of customer need and supply chain, create customize logistics network,
product differentiation, etc.
 Retailers play an important role in supply chain management as it act as an
intermediate between the customers and the manufacturer.
 There are certain drivers that effect the supply chain management of a retail
organization such as production, inventory, location, and transportation and
information technology.
 Manufacturing supply chain may be different from retail supply chain as in
manufacturing supply chain the end users are not the customers.
 Logistics management refers to the small part of the supply chain management which
includes activities such as flow of goods and services, information and capital to end
users.
 Whereas supply chain management is broader concept as it involves following
activities such as sourcing raw material from various vendors, determine the customer
requirements, conversion of raw material into final products and supply products and
services to the customers on timely basis
 There are three levels of supply chain management such as strategic level, tactical
level and operational level.

6.8. GLOSSARY

Budget: Warehouse refers to the

Budgeting: Merchandise refers

Budgetary control: Retail store is th

Budget period: Wholesaler act as an

Budget report: Retailer is

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Cash budget: Inventory

Fixed budget: Manufacturer is t

Flexible budget: It refers to the

Master budget: It refers

Sales budget: It refers to

AMAZON-SUPPLY CHAIN MANAGEMENT

Amazon is one of the online platform for supplying goods and services all over the world. The
company is headquartered in Seattle, Washington, USA. The company started as a bookstore later
which diversified and now it aims to become one stop shop for all types of customers. There is no
physical retail stores instead it distributes through network i.e. the company is internet retailer.
The company is able to cater mass customer’s need by ensuring efficient distribution centre.

There are four main drive component of Amazon so that it can respond to their customer’s
uncertain demand such as: to have many distribution centres as storage place, to create
information system, ensure efficient transportation system and multi-tier inventory management.

To ensure effective supply Chain Company needs to make various decisions regarding delivery of
the goods on time such as technology to be used, order outsourcing, transportation services,
supply chain network, etc. The company uses warehouse management system to ensure single
delivery system so that customer may receive the item on time.
Other strategies used by Amazon to reduce their costs and maximize their profits:
 Amazon uses transportation hub to deliver items in high demand areas to decrease
transportation cost.
 Amazon uses drop shipment approach where items are delivered by third parties to avoid
huge losses.
 Prime Air services are also launched by the company to deliver items within 30 minutes
after receiving orders.
 Supply chain integration and product differentiations are other actions taken by the
company to reduce cost.
6.9. CASE STUDY Source: studymoose.com

Discussion Questions:

1. Amazon is the biggest platform where customer may find various products. Describe the
supply chain of the company along with its efficiency to cater all customers’ need on time.
2. Amazon is covering mass customer base where customer’s demand is uncertain. This is the
biggest challenge faced by the company. List down the other challenges that company may
face.

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6.10. TERMINAL QUESTIONS

SHORT ANSWER QUESTIONS

Q1. Define retail supply chain management.

Q2. What is the importance of retail supply chain management?
Q3. Define the role of retailer.
Q4. Mention components of retail supply chain management.
Q5. Mention two differences between supply chain and logistics.
Q6. What is the importance of using IT in supply chain management?

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LONG ANSWER QUESTIONS

Q1.What is the principles of retail supply chain management?

Q2.What is the drivers of retail supply chain management?
Q3. Differentiate between manufacturing supply chain and retail supply chain.
Q4. Explain various levels of supply chain management.

ANSWERS

SELF-ASSESSMENT QUESTIONS

1. C Both A and B
2. D None
3. B Source
4. D All of above
5. D All of them
6. A Daily transactions can be managed
7. Return
8. B Retailer
9. C Five
10. D None
11. C information technology
12. C Manufacturing supply chain
13. A retail supply chain
14. Manufacturer
15. A supply chain
16. B supply chain
17. D None
18. B Three
19. A strategic
20. A logistics

TERMINAL QUESTIONS

SHORT ANSWER QUESTIONS

Answer 1: As per the Quinn’s definition of supply chain, the supply chain refers to all
those activities that are involved in moving goods from procurement of raw material
stage till the distribution stage of the finished goods to the end users. In other words,
retail supply chain management is the process that involves movement of merchandise
from vendors to the end users at different stages i.e. from taking raw material for
conversion of it into finished goods and then to supply to the end users.

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Answer 2: Following are the importance of retail supply chain management:

 Minimization of cost: By making feasible choice cost of supply chain management

can be reduced.
 Profitable growth: Effective supply chain management helps the company by
ensuring profitable growth by assembling perfect order, supporting customer
services after selling goods and by getting involved in new product development.
 Reduction in working capital requirement: Proper supply chain management
ensure fast supply of inventory which reduces the number of days in cash cycle by
accelerating the cash cycle and helps in managing the payables and receivables.
 Fixed capital efficiency: The supply chain manager by locating sufficient number
of warehouses at right places that make economic sense may achieve fixed capital
efficiency.

Answer 3: Following are the key functions of the retailer:

 Retailer search for the most economical source of goods and services and performs
functions of buying and selling products and transfers the advantage to the
customer.
 Retailer manages the storage and warehouses for ensuring uninterrupted flow of
goods and services as and when required by the customers.
 The main focus of the retailer is to provide maximum satisfaction to the customers
by delivery quality products on cash or credit basis.
 Retailer must be able to manage various types of risk associated with business such
as spoilage risk, bad debt risk, and risk of damage and perish ability, etc. to reduce
the losses.
 Retailers are responsible for gathering information from customers about their
taste and preferences as they directly contact with the customers.

Answer 4: Components of retail supply chain management includes plan, source, make,
deliver and return:
 Plan: This is the strategic portion of supply chain management process where
companies need to develop a plan that defines how resources should be managed.
 Source: Source in supply chain management refers to the suppliers from where
raw material is procured. The company must ensure that goods procured from the
suppliers are purchased at best prices and are of best quality.
 Make: This is the third component of supply chain management process where
manufacturing of raw material into finished goods takes place.
 Deliver: This is the step in supply chain management process where orders from
customers is taken by the company, then network of warehouse is developed so
that the order can be delivered to the customer as per mentioned time and
volume. Then process for receiving payment from the customer is developed.

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 Return: At this point, supply chain manager must resolve problems with delivered
goods.

Answer 5: Following are the differences between logistics management and supply chain
management:

 Logistics management deals with maintenance and integration of goods and supply
chain management deals with management and coordination of supply chains in an
organization.
 The objective of logistics management is to ensure customer satisfaction by providing
goods and services whereas supply chain management strives to achieve competitive
advantages.

Answer 6: Following are the importance of IT in ensuring excellence supply chain

management:

 IT helps in reducing transaction cost by ordering appropriate quantity of raw

material or inventory.
 Efficient IT system helps in ensuring proper inventory, accurate information and
data about prevailing market trends.
 IT system in retail organization helps in managing warehouses by tracking
inventory and logistics.

LONG ANSWER QUESTIONS

Answer 1: Retail organizations by incorporating following seven principles one may

achieve excellence in SCM:

 Integration of customer needs and supply chain: As per this principle, retailers
and supply chain manager concentrate on customer needs. They segregate the
customers’ need on the basis of trade channel, Sales volume, industry, etc. so that
retailers may understand customer’s need in a better way and can integrate their
supply chain to serve them better.
 Develop customize logistics network: After segmenting the customers’ need the
retailer or the supply chain manager needs to develop a strategic logistic network
that can cater customer’s need in best effective manner.
 Alignment of demand planning across supply chain: As per this principle, the
demand data is shared with the trade partners of retail organization about
customer’s requirements.
 Outsourcing must be strategic: The retailers must not outsource their core
competencies rather they should outsource in supply chain so that it can help
them determine their core and peripheral activities.
 Product differentiation: Product differentiation is the process where products
on the basis of customer’s order are distinguished. This will help the retailer or
supply chain manager to manage product inventory.

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 Develop IT for decision support: Retailers should create an information

technology system so that decisions at multiple levels can be taken more quickly
by the retailers.
 Adaptation of financial and service metrics: The retailer must develop a system
where performance can be evaluated at every stage so that retailers may reach out
the customers more effectively.

Answer 2: Following are the drivers of the retail supply chain management:

 Production defines the capacity of the manufacturer or the factories or the

producers to supply required products and services. If the manufacturing plant has
large capacity to generate or produce more goods then they may supply products of
larger quantity as and when demand is increased.

 Inventory management is an important aspect of any manufacturing concern as

excess inventory may help the organization to take competitive advantage
whenever opportunities prevail. Inventory may include raw material, work in
progress and finished goods. The manufacturing company may hold large inventory
for maintaining flexibility and responsiveness but it will increase the holding or
carrying cost of inventory. On the other hand if too fewer inventories is maintained
then the company may suffer from stock out situation.

 Location plays an important role in supply chain management as customers prefer

to buy items from location where they can reach more conveniently. Retailers must
open their stores where there are mass population living in such area so that they
can satisfy more customers by offering products and services.

 Transportation refers to the movement of products and services from one location
to another. The mode of transportation decides about the responsiveness ability of
the supply chain. Faster mode of transportation provides more responsiveness but
they are too costly modes of transportation such as air.

 Information technology is used as an important aspect for ensuring effective

supply chain management. If the information technology is properly in-built in the
retailer’s supply chain management system then customer needs can be determined
due to which sufficient quantity of goods are supplied at appropriate time.

Answer 3: Following differences between the manufacturing supply chain and retail
supply chain can be briefly explained:

Manufacturing supply chain Retail supply chain

Manufacturing supply chain requires to Retail supply chain requires maintaining
handle bulk inventory more variety as compare to bulk inventory

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of same product to satisfy customer needs.

Manufacturing supply chain involves In retail supply chain, processing of
processing of raw material into finished merchandise is not necessary.
goods.
Manufacturer procure inventory In retail supply chain, retailer procures
(particularly raw material) from various inventory from manufacturer or
suppliers. wholesaler.
Generally, goods are sold to retailers at In retail supply chain management, goods
lower prices. are sold to end users at comparatively
higher prices.

Answer 4: There are three levels of supply chain management which are as follows:

 Strategic Level: The strategic level plays an important role in taking competitive
advantages as it involves major decisions related to retail supply chain
management. If any of the decisions at this level is taken incorrectly then the
whole organization will suffer major losses. At this level various other decisions
such as selecting right vendor for raw material procurement, to order right
quantity, to select customer segment, etc.

 Tactical Level: Tactical level is the second level of supply chain management
where all medium and short-term decisions are taken. The decisions are
generally related to cost control and risk minimization.

 Operational Level: At this level, daily decisions are required to make by the
operational managers to ensure smooth functioning of the supply chain in an
organization. Operational level is sometimes ignored by top managers as they are
more concern about decisions taken at strategic and tactical level. But decisions
at operational level are of equal importance as these decisions affect the decisions
of strategic and tactical level. Therefore, operational level should be aligned with
tactical and strategic level to achieve excellence in supply chain management.

2.11. SUGGESTED BOOKS AND E-REFERENCES

BOOKS:

 Prabhu TL, 2019, Retail Management: An effective management strategy for retail
manager,Guru M.
 Pradhan, 2010, Retail Merchandising, McGraw Hills.
 Rosemary varley,2005,Retail product management , Routledge ,second edition

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E- REFERENCES:

 Introduction to retail supply chain management, Visited on 01/5/2021.

https://www.yourarticlelibrary.com/management/retail-supply-chain-
management/retail-supply-chain-management/99775
 Benefits and importance of Retail SCM, visited on 02/05/2021.
 http://retailsmanagement.geo-viz.com/blog/key-benefits-of-supply-chain-management-
for-the-retail-industry/
 Difference between retail and manufacturing SCM, visited on 01/05/2021.
https://www.blumeglobal.com/learning/differences-between-supply-chain-and-logistics/
 Functions of retailer, visited on 30/04/2021.
 https://www.managementstudyguide.com/characteristics-functions-and-services-of-a-
retailer.htm
 Levels of SCM, viewed on 5/05/2021.
 https://www.planettogether.com/blog/the-three-levels-of-supply-chain-
management#:~:text=2.-,Tactical%20Level,more%20specific%20processes%20are
%20defined.

Concept of Retail Introduction to

supply chain Retail Supply
Role of
Chain
retailers in
SCM

Meaning and Principles of

components supply chain
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 Management Accounting Unit 7

Frequency of
stock checking
Manufacturing
Importance of Retail V/s Retail SC
supply chain

Drivers of retail
Logistics V/s Supply
supply chain
chain management
management

Figure 4: Conceptual Map

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