Page 123 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

sales and selling techniques, supplier relationships, in-store inventory monitoring, accounting, comprehensive
among others. Merchandising system is managed Customer Data Management Automation, tailor-made
at the business unit level, and links to the inventory, proposal for each customer, and automatic system
point-of-sale and accounting system at all the business analysis, etc. Such information in each store and online
unit’s stores and it handles sales, issuing receipts, sales data base is automatically transferred to a central
and promotions. Certain functions, such as logistics, are analytics system. Moreover, the business intelligence
managed among and between business units to help system can produce several different reports that
optimize network effects. In keeping with the initiative enable management to closely monitor the operation
to increase focus on customers at the local level, Central of stores throughout the markets in which Central
Retail is encouraging local management in Thailand Retail operates. This analysis can also assist Central
to provide input and participate in decision-making. Retail in responding to any issues that may arise in
Each business unit is also responsible for the design of a timely manner, so that Central Retail can take the
its own webstore, though certain key technologies and necessary measures or formulate strategies to improve
processes are carried out at the central management level. the overall performance of online and offline stores.

(3) Local Store Management In developing omnichannel platforms, Central Retail has
sourced software from third parties and tailored them to
Each of stores has its own manager, who is responsible the functionalities of omnichannel platforms for online and
for store operation, management of sales staff and other offline systems. In addition, Central Retail also employs
store employees and management of supplier employees full-time employees who are proficient in Central Retail’s
who work on site in connection with consignment sales. information technology to build out specific features and
Individual stores also manage on-site inventory and functionalities that address customer needs.
inventory orders. By delegating more decision-making
power to individual stores, Central Retail reinforces its (5) Cash Management
ability to respond to the tastes and preferences of its
customers at the local level. Customers pay for merchandise at stores using cash,
credit card or other money substitutes, such as debit
(4) Information Technology card, E-wallet, Dolfin, gift voucher, gift card, coupons
and sales on credit. In the case of sales on credit, Central
Information technology (“IT”) system assists in the Retail considers each customer’s credit and provide
operation of omnichannel, online sales, data analysis, corresponding standard terms. Stringent cash control
merchandising, inventory control, security, cash control, measures are therefore very important to our operations.
financial management, human resources management At stores, all cash receipts are deposited daily with
and other key business functions across entire business. banks, except for a few stores with no cash pick up
services on specific days. For those stores, cash is kept
Central Retail prioritizes cyber security readiness and in-store overnight inside secure safes in the strong
the protection of customer data as its first priority and room, to be deposited with banks within one to three
Central Retail believes that cyber security infrastructure is days. Reconciliation is carried out routines by each
sufficient for such purposes. Central Retail engages third store’s cashier department or by the central financial
party consultants to provide cyber security monitoring accounting function to reconcile sales data with cash,
for its IT systems and provide monthly reporting. credit card and other money substitutes receipt records.
Most of Central Retail’s business units have their Central Retail has also taken out insurance policies to
continuity plans and system in place at store level cover money in premises and money in transit and fidelity
and point-of-sale (POS) system has a multi-tiered guarantee insurance policies which cover finance and
structure, which enables appropriate security and management staff, including cashiers.
operational controls to be in place of prevention from
fraud and theft of personal information. Central Retail’s
Business Intelligence System is a big data storage
system which manages the data of all business units
in an aggregated manner for sales analysis purposes,

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