Authors: Pooja Bhakuni, Sneha Rajput, Bhuvanesh Kumar Sharma, S.S. Bhakar
Journal: Gurukul Business Review
Publication date: 25th Feb 2021
Publisher: Gurukul Kangri (Deemed to be University), Haridwar
URL: click here
Purpose-In a competitive business environment, repurchasing determines the success rateand growth of an organization. The managers of the organizations are continuously makingefforts to establish the name of their brands in the market. Most business organizations consider a brand image as a powerful asset for their growth. This research was conducted to study the importance of brand image and store image on repurchase intention.
Design/methodology/approach-The current study is causal. Data was collected from 500 respondents using a questionnaire on a 5-point Likert scale. A nonprobability purposive sampling technique was used to collect the data. Consistency was of data evaluated using reliability and the model was tested using SEM through SPSS AMOS 18.
Findings-The findings revealed that brand image does influence repurchase intention in the readymade garment stores (P <0.05). But on the other hand, the study revealed that store image does not affect repurchase intention directly (P?0.05). The model fit indices like ?2/DF were 1.25, GFI was 0.995, AGFI value was 0.982 indicating high acceptability of the model. PGFI was 0.284; CFI, NFI, TLI, and RMSEA were within threshold limits.
Research Implications-As per the finding, Indian customers have higher repurchased when they have a higher evaluation of the brand image. It shows that brand image is a necessary factor to build a successful repurchase intention. The study has a strong implication for store brands to have more focus on the brand image as it affects repurchase intention directly and gets affected by store image.
Originality value-This research supplies the unique learning to the retail store manager, brand manager and marketing managers to understand the perception of customers towards the brand image and store image and its impact on repurchase intention. It delivers comprehensions of the branding issue and compares to collected works, therefore contributing a thorough and detailed analysis to comprehend the phenomenon under investigation valuable for the retail sector.
Inventory Management increases the profit for the organization. Better inventory Management Practices reduces the cost. The concept of JIT i.e. Just in time comes handy in this. In this, we procure only when the raw materials are required for production. So, forecasting what quantity of the specific material is required at the particular point of time is very much essential. In this regard, one model has been explained to explain or plan the amount of raw materials required as a stock in our inventory that will be exactly sufficient to cater the demand. It is also not desirable to maintain the stock of the finished goods in our warehouse. So, to forecast the demand also plays the vital role.
EOQ Model i.e. Economic order Quantity has been linked and various KPIs of the inventory management has been discussed. The role of strategically placing and storing the materials in the warehouse has been stated with example.
Good inventory management makes the good coordination between the different verticals of the organization and helps in better planning and execution. What concepts can be implemented to integrate the Top-line and Bottom-line is being brainstormed in the paper. Building a strategic inventory management plan is very much essential for the organization sustainability and success. Here in this paper, conflict management in inventory has been discussed.
The results and concepts explained of above pain points in inventory management like items forecasting according to demand at particular point, Inventory KPIs, allocating strategic place in warehouse, conflict management due to different interests and all will help future project managers to understand and to perform better in this particular field.