Executive Education
Talent Accelerator Program by Jio Institute & Reliance Retail
Jio Institute in collaboration with Reliance Retail, conducted the Talent Accelerator Program (TAP) for junior/mid-level executives with potential for Leadership. The 8-9-month programme, started with the Immersion Module for 5 days at Jio Institute, attended by 30 Reliance Retail Executives
Last Conducted On: 01 Jul 2024 - 05 Jul 2024
Mode: Offline
Upcoming Sessions
To be announced
About Reliance Retail
Reliance Retail, a pivotal initiative of Reliance Industries Limited is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India regarding revenue. Guided by principles of inclusion and sustainable value, it has swiftly cultivated enduring connections with millions of consumers through diverse store formats. As India's largest retailer, Reliance Retail operates across Grocery, Consumer Electronics, Fashion & Lifestyle, and Pharma. With 249 million registered customers and 780 million footfalls in FY23, it stands as one of the world's fastest-growing retailers, ranking 53rd globally. The multi-pronged approach includes brands like Fresh Signature, Reliance Digital, AJIO, and Netmeds. Reliance Retail, with a turnover of Rs. 2,60,364 crores in FY23, operates 18,040 stores, impacting socio-economic transformation on an extraordinary scale.
Programme Overview
This Programme is designed to equip junior/ mid-level executives of Reliance Retail, with the knowledge and skills required to succeed in a retail environment.
The Programme was attended by executives from various divisions in retail such as Supply Chain, HR, EPC, IT, Electronics, Jio mart, Reliance ResQ, Trends, Value format and many others.
The Programme delved into in-depth concepts of Retail, covering all facets such as Current trends in Retail, E-commerce in retail, customer journeys & preferences, physical stores & strategy revolving around that – layouts, location etc., customer centricity, product management, pricing strategies, inventory management & digital transformation.
Mr Srikant Gokhale, Former Group CEO, of Landmark Group, Dubai, and Lecturer of marketing – at the University of California, Berkeley, Hass School of Business, was the principal faculty of the immersion module, where he focused on Retail Strategies, Customer Journey, Product Management and many more functions, applicable in retail space. The programme included several real-world case studies and guest lectures by various industry leaders, that complemented the knowledge sessions.
The Guest speakers included esteemed academicians such as Prof. Alan D’Souza, Dr Larry Birnbaum, Dr Vijay Vishwanathan, Dr Dipak Jain, Prof. Manaranjan Pradhan and Dr Nilay Yajnik.
This programme is designed as an 8-9-month programme, starting with the immersion module that covers 8 modules in 5 days at the Jio Institute Campus, Ulwe.
Learning Outcomes
The Executive Education: Talent Accelerator Programme conducted by Jio Institute and Reliance Retail has yielded significant learning outcomes.
Analyse current retail trends and their impact on the industry: The participants will be able to assess the global and local retail environment, identify key challenges and opportunities in the current retail market, evaluate the impact of major retail players on market dynamics and develop personal branding strategies to stand out in a competitive environment.
Understand the evolving customer journey and develop strategies to meet their needs: The participants will delve into the changing habits of today's customers, investigate customer behaviour trends and their implications for retailers, analyse real-world examples of successful customer engagement, explore the interplay between digital and physical retail experiences and develop strategies to meet evolving customer needs.
Leverage the power of data and technology to make informed decisions: The participants will explore and design the role, layout, and location of physical stores in creating competitive edges, analyse the financial performance of retail operations, evaluate financial statements to inform retail decision-making and apply AI and other technologies to enhance retail strategies.
Delve into Product Management and Inventory Optimization Techniques: The participants will develop customer-centric product management strategies, implement effective pricing and promotion tactics, optimize inventory management to enhance supply chain efficiency and analyse best practices for demand forecasting and merchandise planning.
Understand ways of Digital Transformation in Retail: The participants will utilize digital transformation strategies to enhance retail operations, analyse customer data to develop targeted marketing and engagement plans, apply lessons from industry leaders to drive competitive advantage and foster customer loyalty through personalized and effective marketing strategies.
Programme Synopsis
Module 1 - Understanding Latest Retail Trends and Practice
The shape of the future, trends in retailing
Innovation and Changing Customer Behaviour
Guest Lecture: Building a Personal Brand, by Prof Alan D’Souza, Jio Institute
Module 2 - Role of store, Layout, and location
Store formats: Learning about different store formats
Store Locations: How to choose the right location, Financial implication
Store layouts: from the entrances, checkouts, and displays to back stores
Dynamics of retail operation: what matters Changing Role of Manager and Sales associates
Mapping different customer journeys: Physical Vs. Online Vs. Omni
Visualizing Store of the Future
Guest Lecture: “Introduction to AI”, by Dr Larry Birnbaum, Northwestern University USA and Visiting Faculty Jio Institute
Module 3: Building Financial Acumen
New way to understand Retailer’s Pricing, discount, Gross profits, and cost and working capital to maximise profitability
Financial aspects of different formats: A comparative analysis Understanding finance from retail perspective: P&L, Balance sheet, Cashflow, Ratio Analysis
Measuring What Matters: Right Retail Performance Metrics
What Creates Shareholder Value
Guest Lecture: “Customer Centricity” by Dr Vijay Viswanathan, Northwestern University USA and Visiting Faculty, Jio Institute
Module 4: Product Management
What is category management and how it has evolved over the years?
Product Management- Which product to select and why: Criteria for choosing products. Rule of 80:20.
Develop pricing strategies that balance profitability and customer value: Promotions, Discounts, Markdowns
Understanding drivers to growth: Seasonality, events, Loss leaders, Price leaders, promotional items
Concept of freshness and newness, Unique products
Why private labels and how to manage them
What is the Marketing mix and how does it impact product selection, product mix, product bundling, and the size of products?
Module 5: Inventory as Competitive Edge
Building robust and responsive supply chain management in the Digital Era
Understanding the importance of Inventory Management as value creation
Demand forecasting, Merchandise planning and inventory optimization techniques.
Changing Role of distribution center Push Vs Pull supply chain.
Innovation in managing inventory- How to reduce overall inventory: latest best practices
Integrated supply chain for Store, Online and omni-challenges of last-mile delivery
Guest Lecture: “Business Analytics for Competitive Advantage” by Prof Manaranjan Pradhan, Visiting Professor Jio Institute
Module 6: Understanding target Customers, Value proposition, Brand positioning, Customer segmented strategy and creating Customer loyalty
A deeper understanding of Brand positioning and customer target segments
Customer insights: Understanding customer trends, tastes and preferences, and shopping behaviours
Who is the customer and whom we should target?
Understanding the concept of the most valuable customer
Delivering a positive and seamless customer experience at every touch point across the customer life cycle.
A conceptual framework for customer segmentation approaches - not all customers are equal.
Identifying customer segments and designing customer-segmented strategies.
Customer acquisition, retention strategy for creating lifetime value - a construct of a customer loyalty program
Segmenting customers, Customer retention and acquisition, creating customer lifetime value, Creating seamless customer experience, Marketing mix and customer segmented strategy
Guest Lecture: “Marketing in a Disruptive World” by Dr Dipak Jain, Former Dean of Kellogg School USA and Vice-Chancellor, of Jio Institute
Module 7: Understanding Digital Transformation
Physical Vs. Online Vs Omni: Why retailers need to reimagine Retail in the era of digital disruption
Visiting stores: Observing customers
Analysing data: how much top 30% - SKUS, Customers, and Stores contribute to sales and profitability
Concept of dynamic pricing Developing store-segmented strategy
Use of AI/ Machine Learning, Augmented Reality (AR) and Virtual Reality (VR) in retail.
What stores-based retailers are doing to remain relevant in an increasingly online retail landscape.
Guest Lecture: “Digital Transformation: Lessons from History - Could They Repeat?” by Dr Nilay Yajnik, Jio Institute
Module 8: Strategic Management in Retail
What is Strategy?
Building strategic vision and roadmap
SWOT analysis and Strategic planning
Understanding competitive dynamics: Industry analysis and market dynamics, trends
Developing and aligning retail strategy with business goals
Speakers
Srikant Gokhale
Former Group CEO, of Landmark Group, Dubai | Lecturer of Marketing, Hass School of Business, University of California, Berkeley, USA
Dr.Nilay Yajnik
Professor & Director, Executive Education, Jio Institute
Dr. Dipak Jain
Former Dean, Kellogg School of Management, USA | Former Dean, INSEAD, France
Prof. Alan D’souza
Former Executive Director, Mudra Communications Ltd, India | Founder Member, Mudra Institute of Communication Ahmedabad (MICA), India
Manaranjan Pradhan
Founder & Director, AwesomeStats Consulting Pvt Ltd, India | Adjunct Faculty for Indian Institute of Management, Bangalore and Indian School of Business, Hyderabad