Report Sample: Furniture Rental Report

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Executive summary

This is an individual business report. I have selected John Lewis with Fat llama. I have collected the data from company websites and different secondary resources. The data was also collected from various academic journal articles. In this report, I have researched the company’s product range of renting furniture, the process for collection and delivery time, lead time, and rental costs. John Lewis is performing well in the rental furniture services sector. There are still some challenges that the company is facing. That report also covers the different challenges faced by the company and suggests possible recommendations for these challenges.

Introduction

With greater than 78,000 Accomplices who’re too employee-owners, The John Lewis Organization is the largest employee-owned organisation in the U.K. John Spedan Lewis, our Founder, created it as remote better; miles better; a better; stronger; an improved”>a better approach of undertaking exchange and advancing societal alter (Lewis, 1948).

Our Structure shields the requirements that direct our organisation through cherishing our management in an unmarried composed device that could because it have been being modified with the expertise of each the Association Chamber and the Chairman. In spite of the reality that our Structure has been modified because it turned into to start with allotted almost a century prior, it nevertheless captures the soul of our Founder’s big imaginative and prescient objectives.

The Partnership’s social obligations and our duties to Partners, clients, vendors, and the communities in which we operate are outlined in the Principles and Rules outlined in our Constitution. Additionally, it emphasises that we must achieve “adequate” rather than “maximum” profit, which is why we are committed to investing our gains back into our Partners and pursuing our Purpose.

We asked Partners from throughout the firm for debate, input, and comment on our revised Purpose to make sure it is appropriate for the Partnership’s future. Our new mission, “working in cooperation for a happy world,” clarifies our Purpose and mission as a company and presents us with a unique chance to innovate.

Process specifics

With pricing starting at about £6 per month, John Lewis has introduced a furniture rental service that allows customers to try before they purchase.

Customers of John Lewis will have the option to rent furniture for a period of three, six, or twelve months before they are required to commit to buying it.

One of the largest furniture stores in the UK, John Lewis, came up with the concept that more individuals are seeking access and usage than full ownership as consumer buying patterns change. The tendency will spread to other aspects of life, such as furnishings, in the same way that more people are now renting vehicles and real estate, two of the most expensive things individuals need.

The John Lewis furniture program eliminates the risk of purchasing large products online. Whether it’s a sofa or an office desk for home use, this project enables buyers to see the item in the location where it will live and test it out before making a purchase.

Customers can browse furniture and purchase as usual or choose the things to rent on the “Tilt Rental” website run by Fat Llama.

Rental charges

Desk chairs cost as little as £6 per month, while three-seat couches cost as much as £32 per month. Additionally, there are high rental fees for huge things.

After the renting period, customers can purchase the products for a lower price after taking their initial payments into account. The rental fee and final purchase cost decrease the longer a client commits to renting.

The company promises to deliver furniture within two working days and, if necessary, aid with setting up larger pieces.

The business feels that attitudes regarding renting goods and the sharing economy have drastically changed recently. It is aware that its consumers are increasingly emphasising renting, reselling, and recycling goods.

Cost and schedule

Delivery is £3.95 for orders under £50 and is free for purchases of £50 or more. Large products transported to areas outside of the U.K. mainland are an exception.

Minor things

Smaller products are typically delivered in 5 working days, 7 am to 6 pm, Monday through Saturday. Certain couriers could provide a little bit sooner or later.

As soon as your item leaves our warehouse, we will send you an email with tracking information.

They employ Royal Mail, Evri, DHL, and DPD couriers for regular delivery.

Large goods

The transport of large items, including furnishings and appliances, will both be made with the aid of using a John Lewis & Partners van and with the aid of using certainly considered one among our permitted suppliers. External companies offer items from which they depend on suppliers.

The company’s van fleet covers most of the U.K.’s mainland, and whilst you place an order, you will be capable of picking out a transport date and window during the checkout process. When John Lewis & Partners employees supply massive products, they continually consist of a FREE 10-hour fashionable transport window.

The particular lead time they may offer you at checkout will rely upon your postcode and the supply of transport slots at that time. Free U.K. fashionable transport takes three running days.

The transport instances are 7 am to five pm, and eleven am to nine pm, Monday through Friday. Sat. 7 am to five p.m.

The nighttime, earlier than your transport, they SMS you to request a 2-hour window in your am or pm slot, and we will verify it the day the van departs our warehouse. For an additional fee, they offer next-day transport and 2- and 4-hour transport windows.

Delivery can also take more than seven running days case you live on a highland, an island, or a rural address. When you test out, they might not come up with a transport window; however, our provider gets in contact with you after you area your buy to installation transport. While they commonly try and supply your object within seven running days, postcode and provider availability can also affect this. Check the segment on transport exclusions in your postcode.

Why does delivery take so long?

Since some of our furniture is manufactured specifically for you, it may take time before it is prepared for delivery.

They collaborate with several authorised suppliers to provide you with a greater selection of items. These vendors could provide various alternatives and delivery schedules. Visit this page for further details on delivery via their authorised vendors. Before contacting us, kindly wait till your delivery’s due time has passed.

Expectations on delivery day

High-fee merchandise would require a signature upon transport. They will notify you thru electronic mail whilst it’ll be introduced and consist of commands on the way to display your goods.

The courier will attempt to depart the package deal with a neighbour if no person is around. If the courier cannot supply the package deal or leaves it with a neighbour, they may depart a card at your door with transport commands.

Before the package deal is lower back to our warehouse, the courier will make up to 3 tries to supply the field and get a signature.

Product range

The company offers Living Room Furniture, bedroom furniture, dining room furniture, and home office and storage furniture.

Generic Strategy Model

According to Porter (1980), an agency can also add an aggressive part by promoting its items and offerings for much less cash or by distinguishing them. Understanding Michael Porter’s prevalent techniques paradigm is vital for this. The version unearths 3 standout techniques as reasserts of aggressive advantage: the Cost Leadership Strategy, Differentiation Strategy, and Focus Strategy.

It is cheap to mention that John Lewis has hired a hybrid technique that mixes additives of a focal point approach with a differentiation approach. Instead of focusing their items on the mass market, their machine is taken into consideration as a focal point approach of their centre middle-elegance purchaser base. This is probably attributed to the objects the store gives its clients and the truth that its charges are regularly better than the ones of the competitors.

The Partnership suggest that their better pricing is suitable and that their customers benefit from their commercial enterprise and stroll away with superb memories. Given that the Partnership’s sales extended from £204.7 million, or three in step with cent, to £ 6. ninety-seven billion on the quilt of 2009, it’s miles affordable to expect this commercial enterprise technique to be effective. Notably, the Partnerships’ net sports income rose from £64.eight million to £332.nine million.

Porter’s prevalent techniques concept, consistent with Murray (1988), is disappointing as it fails to give an explanation for how any prevalent techniques may be implemented, it’s miles unclear, and it risks working towards managers through advocating regulations on adopting a single prevalent technique while there’s no empirical information to guide any such restriction. He contends that the contingency approach disproves the belief that one must confine oneself to a single approach and suggests that every prevalent technique is hooked up to a set of prevalent means, thereby transcending the bounds of Porter’s prevalent approach version.

Business model faced by John Lewis

Following the partnership business concept was John Lewis Company. According to the John Lewis business model, each employee has a share in the company, making them all co-owners. Employees at John Lewis have a say in how the business is operated and a part of the group’s annual profits.

The U.K. Government claims that studies show employee-owned businesses that are operated properly benefit their staff, the company, and the overall economy.

• Employee ownership promotes a higher level of dedication and participation in the business.

Comparatively speaking to comparable non-employee-owned enterprises, it increases productivity and profitability and decreases absenteeism, staff turnover, and even the amount of workplace accidents.

Because there is less variation between economic cycles, it fosters quicker development in employment and sales, which helps firms weather tough economic times.

Because the government is a strong proponent of employee ownership, they provide large tax breaks to business owners who transfer control of their company to an employee ownership trust.

Challenges faced by John Lewis

Retailers have encountered several difficulties due to John Lewis Covid-19, chief among them being the adaptation to ever-shifting customer needs. Most recently, John Lewis said that, following a successful trial last year, it would double the choice of furniture available for rent.

The John Lewis Partnership and the Co-operative Group warned that deteriorating supply chains would result in increased costs as a lack of truck drivers exacerbated problems in the world’s freight sector.

Many merchants have brought attention to the difficulties facing their industries due to the impacts of Britain’s withdrawal from the European Union on international commerce and the larger implications of the COVID-19 epidemic on global transportation (LONDON, SEPTEMBER 16). (Reuters).

Partnership, The chairman stated that the whole retail industry must manage labour shortages and worldwide supply chain issues. The group saw inflationary pressures and anticipated that they would continue.

The alliance hired extra full-time drivers and 7,000 temporary seasonal workers, and more freight capacity was reserved to reduce risks and bring Christmas to customers.

• Supply chain administration

Due to supply chain management challenges, John Lewis Rent-A-Furniture is struggling to expand successfully in a cutthroat industry. The company is attempting to integrate supply chain management with the business objectives by combining transactions with process planning. The company is also having problems with product design.

• Quality assurance

The business has trouble measuring quality control and meeting consumer demands on schedule. The company has to expand its product line for the customer product range.

• Enhancements to R&D

The company must enhance its R&D to produce goods of higher quality. This criterion can potentially boost the company’s sales by more than 20%. They are struggling with database administration so they can handle consumer complaints and run their firm more successfully.

• Program for development and training

The company is struggling with personnel development and a lack of training program systems. sTo manage the customer’s quarries promptly, these advances are required.

• Enticements

• • Employees receive fewer rewards from the company, which hurts their motivation to work. The inability of employees to be motivated will prevent the organisation from expanding.

• Technological progress

To build brand value in the market, the company is dealing with problems related to the technical development process. Additionally, the firm’s website must be improved so that customers can obtain the information quickly.

Recommendations

• The organisation should concentrate on its online business strategy and enhance the customer shopping experience.
• The business should connect its consumers via various marketing and promotional initiatives
• The business should enhance its research and development division to boost sales
• The business should enhance its quality controls to promote brand loyalty and increase consumer satisfaction.

Conclusion

The largest furniture rental firm in the U.K. is John Lewis. Its headquarters were initially in London alone, but it has since globalised its operations. Employee ownership participation is part of the company’s partnership business model. The business is distinctive because of all of this. The company has a competitive market position. The business encounters a few difficulties when conducting business. I’ve offered some suggestions for how a business might boost market sales and, as a result, enhance profitability. The company can also use these suggestions to improve client satisfaction.

References

• www.johnlewispresscentre.com
• https://www.johnlewispartnership.co.uk/content/dam/cws/pdfs/Juniper/ARA-2021/2021-Annual-Report-and-Accounts-Report.pdfLewis, H.D., 1948. Collective responsibility. Philosophy, 23(84), pp.3-18.
• Murray, A.I., 1988. A contingency view of Porter’s “generic strategies”. Academy of management review, 13(3), pp.390-400.
• Paranque, B. and Willmott, H., 2014. Cooperatives—saviours or gravediggers of capitalism? Critical performativity and the John Lewis Partnership. The organisation, 21(5), pp.604-625.

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