MANAGEMENT

Detailed explanation-1: -Chain stores are retail stores which share a brand and central management, usually with standardized business methods and practices. They may all have the same owners or may be franchised. Many restaurants are also chains.

Detailed explanation-2: -A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices. They have come to dominate the retail and dining markets and many service categories, in many parts of the world.

Detailed explanation-3: -Chain stores are defined as a type of retail organisation that is composed of more than one retail store, and it is owned and operated by a single management company. It is an outlet that is characterised by several locations that share a brand with centralised management along with standard business practices.

Detailed explanation-4: -A chain store is a group of similar retail shops that sell the same type of goods. All these shops or branches are under the control of the head office.

Detailed explanation-5: -Centralized purchasing or procurement is a system in which one department manages the purchasing of goods and services for the entire organization. The purchasing department is usually located in the organization’s headquarters, where it handles the purchasing for all the branches of the firm.