Target's Supply Chain Essay

The first Target store was opened in Roseville, Minnesota in 1962. The company began its’ path towards development in 1902 by George Draper Dayton. Dayton was a partner in Goodfellow’s Dry goods Company in Minneapolis, Minnesota. He quickly bought out his partners and became the founder of Dayton Dry Goods Company. In 1968, Dayton acquired the JL Hudson department store thereby changing his founding name to Dayton Hudson Corporation.

Target Corporation did not started out as Target but Dayton Department Store. The founder of Dayton Department store is George D. Dayton. Mr. Dayton, was banker and realtor from New York. In 1902 Mr. Dayton decided to move to Minneapolis and open up his department stores. In 1960 the Dayton family had a new vision and decided change from a department store to a “discount retailing.” In 1962, President/CEO Doug Dayton, open the first four Targets in Roseville, Saint Louis Park, Crystal and Duluth, Minneapolis (corporate.target 2014)

Target is an upscale discounter that provides high-quality, trendy merchandise at attractive prices in clean, spacious and guest-friendly stores. In addition, Target operates an online business, Target.com. It all started in 1902, when George Dayton joined in partnership with Goodfellow’s Dry Goods Company, the fourth biggest department store that is located in Minneapolis, MN. Dayton, wanting to be more involved in the company bought out Goodfellow’s to become sole owner and President of Dayton Dry Goods Company (Target Corporation, 2014). Travel on down through the years as Daytons continues to grow, until 1962. That was the year an icon was born, its name is “Target.”

Target was created in 1962 after its founder George Draper Dayton passed away. Dayton who was a banker and real estate envisioned a great potential in business in Minneapolis and started Dayton’s Dry Food in 1902 as a partner considered the fourth largest department store in Minneapolis, Minn. After a year Dayton becomes sole proprietorship of the store and becomes the first president of newly Dayton Dry Goods Company. Company continues expanding changing its name once again in 1911 to better reflect its good and services. Company continues to suffer changes throughout the years opening its first foundation in 1918 at a cost of 1 million dollars to promote mankind welfare. After his George Draper Dayton’s death in 1938 his son and

Target was founded in 1902 first named Dayton Dry Goods Company by founder George D. Dayton (Target, 2015). After a lot of expansion and growth, Dayton Dry Goods was renamed to Target in 1961 after a mass marketing move to cater to value-oriented shoppers that wanted high quality items. In 1962, the Target bullseye symbol was adopted (Target, 2015). Over the years Target began to expand and grow throughout the entire United States. In 1983, Target was recognized for their community involvement (Target, 2015). Target has grown with technology as being the first mass merchandiser in 1983 to implement UPC scanning in their stores and distributors. In support of education, Target

Target’s Management Discussion and Analysis, item 7 in their Form 10-K, valued several noteworthy items contributing to their fiscal 2016. Key standout points addressed by management included: 2016 in-store sales decreased .5% because of a .8% decrease of in-store foot traffic, digital channels experienced a 27% growth in sales which contributed 1% points of comparable sales growth, adjusted earnings per share were $5.01, returned $5.0 billion to shareholders through dividends and share repurchases. Furthermore, Target’s GAAP earnings per share from continuing operations were $4.58 in 2016 (Target Corporation, 2017).

The 1950s and 60s saw Dayton companies as becoming more aggressive and innovative company. In 1956, Dayton Company built the world 's first fully enclosed shopping center. The Dayton Company completed Discount Merchandising in 1962 with the opening of the first target storage in Roseville, a suburb of Minneapolis. Whole idea was based on getting bargain basement quality products of high-end stores and selling them in your own stores. The goal was to become the first Offer retail store that is known for its national brands at great prices.

Target Corp. is making changes to the way it operated in hope of enhancing online sales. Target has recently hired another supply chain executive. This executive, Benjamin Cook, worked for Apple before this. The article states, "Mr. Cook 'will lead the optimization of Target’s inbound and outbound supply chain processes, including carrier transportation and last-mile delivery,' in addition to overseeing inventory and merchandise planning, the company said Wednesday." Inventory management is where a person keeps track of where the goods are located. This happens to be a big focus for target and other retail stores if they have more than one store. Target executives think that the way to fix the inventory mess is to change the shopping patterns.

The origin of Target can be traced back to George Draper Dayton, a banker and real estate developer. It began when George Draper Dayton lease a downtown building space to department store R.S. Goodfellow in 1902. He eventually bought the store the following year and named it Dayton Dry Goods Company. George Draper Dayton past away in 1938 and was succeeded by his sons and grandsons. Douglass Drayton, grandson of George Draper Dayton, eventually succeeded the company and established the first Target retail store. The basement of the original store was turned into a discounted section in 1909. The success of this discounted section was noticed by Douglass Dayton which led to the first establishment of Target in Roseville, Minnesota May 1, 1962. Staying true to George Draper Dayton culture, “buy and sell only merchandise of dependable quality and honest value at its level” (Reingold, Target’s Inner Circle), led to Target’s success we can identify through the accomplishment of their mission and vision statements, high revenues and product developments, SWOT analysis, and unique

Target Inc. is an award-winning retail firm that was established in 1902 as a subsidiary of the Dayton Company in Minneapolis (“Company Background”, n.d.). Upon inception, the company rapidly became the most profitable retail chain in its parent company holdings. This rapid profitability was achieved because Target Inc. differentiated itself from its business rivals through the creation of an upscale discount market niche. The growth of the company in its initial years can be attributed

What we consider the most important challenges that Target Corporation will face in the years ahead is Who What Wear...and How the partnership of celebrity style and fashion including the spring looks,feminine prints,accessions, having new pieces rotation in each months.Also making more music history like taking live to an entirely new level creating a Gwen Stefani official music video for Making Me Like You on live tv such as Facebook,and Snapchat. The Art of Transforming a Company is by cultural. Finding the Right Fit for the leadership milestone of the company,Agency Refresh creating the best in class solutions for our company business .A Smarter Way Target is testing connected living it showing the customers how connected can help then

Retail super-giant Wal-Mart has fought its way to becoming the world's largest company. Much of their success can be attributed to providing a vast assortment of products at exceptional prices all under one roof. Wal-Mart began operations in 1964 and has since become the world leader in retail. Today, Wal-Mart is visited by 138 million customers per week at their 4,750 stores. Wal-Mart operates under four basic rules in order to satisfy such a large number of customers:

Within the last couple of months, three Target chiefs have left the company. Anne Dament, grocery chief, was the most recent departure. The company has been trying to improve their food department for the last couple of years, and with Anne’s previous experience working for Safeway, CEO Brian Cornell, thought she would be perfect for the job. Unfortunately she lasted only 18 months and will have her last day on November 18th. For now, Mark Tritton will be covering her duties, but they are actively looking for someone to succeed Dament. Target still hopes to increase sales in their food division, though they will never be a top grocer, nor do they want to be.

According to Bucklin (1966) it’s important to understand customer preferences when designing the value chain. This because the value chain will only be viable over time if customers feel that it provides a form of value. This value is created if the actors of the chain provide activities that result in cost- efficiency and/ or better service. There are five service performance areas where actors can create this value: unit size, availability, waiting time, variation in production and information (REF).

Target Corporation is the fourth largest retailer in the United States. The company operates 1,556 stores in 47 states. The company has three main retail divisions: Target Stores, Mervyn’s and Marshall Fields. Target Stores is the number two discount retailer in the country, trailing only Wal-Mart Stores, Inc. they have distinguished itself from its competitors by offering upscale, fashion-conscious products at affordable prices (Funding Universe, n.d.). Targets supply chain actives has been an important part of and one of the most significant reasons for its huge growth and success. The purpose of paper is to analyze Targets supply chain and related actives to understand its effectiveness and gain a better understanding on how their supply chain contributes to the company’s growth and success.