Experiences with budget variances and corrective actions
In a store such as Walgreens Drug and Sundry, what experiences with budget variances and the outcome of the corrective actions are taken to stay within the budget? What type of corrective actions would have to be encountered?
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In stores such as Walgreens, which is a small retail/cosmetic/drug store, experiences with budget variances mainly focus on inventory. In retail, this is a high area of variance due to several factors, including 1) demand and 2) obsolete issues. In the area of demand, several things can drive demand, including newly released over the counter and prescription drugs on the market, and it can also be affected by decreases, which is primarily due to a downturn of the economy. In both instances, we have either an excess of demand or decreased demand, which cases a variance in the ...
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In a store such as Walgreens Drug and Sundry, what experiences with budget variances and the outcome of the corrective actions are taken to stay within the budget? What type of corrective actions would have to be encountered?
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