Costco Pharmacy Hours : Successful Strategy Execution

Costco pharmacy - Jim Sinegal, the founder and CEO of CostCo Whole-sale, is the people that make the company become the biggest retailer number four. Look casual, unpretensius, and is almost indistinguishable with the store clerk. Sinegal spent a lot of time visiting stores Costco. Sometimes he uses the company aircraft to visit from location to location.

Even in one day Sinegal can visit 8-10 stores. In visiting the store, Sinegal role as a producer, director, and critic who is experienced. Sinegal do the cutting for efficiency, displaying more attention to detail and price, ventured to ask a thousand questions to the manager about the volume of sales and stock levels in the store, commenting on all aspects related to store operations.

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Costco Pharmacy Hours
In 2006, sales of the Costco is almost $59 million in 496 stores spread across 37 states, Puerto Rico, Canada, the United Kingdom, Taiwan, Japan, Korea, and Mexico. About 26 million households and 5.2 million businesses had membership cards for shopping at Costco. Annual sales average $128 million, twice that of Sam's Club, competitors from Costco in membership warehouse

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The background of the company
  • The concept of membership warehouse starts from the presence of merchandise in the form of a discount by the Sole Price, the open Price Club, the first in the aircraft hangar which was converted in the Boulevar Moreno, San Diego, 1976. Price Club loss in the first year but in 1979, price Club has 2 stores, 900 employees, 200,000 members and 1 million dollars in profits.

  • Sinegal started his career at the Fed Mart at the age of 18, and at age 26 became the manager of the Sol Price in San Diego area, which is not favorable. Sol Booking seeing that Sinegal has a special ability in terms of discount and to see the errors that made the store (usually because of the category of merchandise which are not right or because it does not sell the goods at the right price).

    A few years later, Sinegal continues to develop expertise in discount merchandise. And because Sinegal already feel master of the trick in running a business membership warehouse, he decided to quit from the Price Club and set up their own business.

  • Costco was founded by Jim Sinegal and entrepreneurs in Seattle, Jeff Brotman. Costco first began operations in Seattle in 1983, the same year when Wal-Mart launched the format of the warehouse membership. The end of 1984, there were nine Costco store in five states serving over 200,000 members. In 1985, Costco became a public company and raise capital for expansion 

Costco Pharmacy Hours

The business Model and Mission Costco
  • The mission of Costco : “Continuing to serve members with quality goods and services at the lowest possible prices”.

  • The business model of Costco : ”Generating high sales volumes and turnover inventory quickly by offering members low prices on limited selection of national brands and products labeled private in a range of categories of merchandise.”

  • With turnover inventory quickly, - combined with the efficient operation is achieved with the volume of sales, efficient distribution, and reduced control of the merchandise, the service of his own at warehouse facilities - enables Costco to obtain profit even though operating at the margins low enough
Warehouse operations

  • Costco is able to operate with the price low by eliminating all the cost and frills associated with wholesales and retailers traditional including salespeople, fancy buildings, delivery, billing, and accounts receivable.

  • Costco run company with a load of really small which allows the company save a lot. Warehouse Costco average has an area of 140,000 sq m and is built with low cost. And this warehouse is not located in a commercial because visitors are attracted by the cheap prices Costco, not the location.

  • Warehouse Costco operates a seven-day, 69 hours a week, at 10 in the morning until 19.30 hours. the shorter the time of operation Costco compared with retailers, discount retailers cause the cost of workers is low compared with the volume of sales.
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Demographics of the member and the base member of Costco
  • Costco to attract consumers with discount. The average consumer this individual has an average income of $75,000. And about 30% of consumers have income >=$30.000.
  • Costco has two types of consumers, Business and Gold Star (individual)
  • Gold Star is for individuals who are not qualified for membership Business. Business (including individuals with a business license, retail permit, or other evidence) dikaulifikasi sebangai members type of Business.
Compensation and labor Practices
In September 2006, Cosco has 71.000 workers full-time and 56,000 part-time workers. Including 8000 employees who were employed by Costco Mexico, which operation is not consolidated with the Costco center.
The benefits that can be obtained by the employees of Costco
  • Health care plan and dental care
  • Recipes that can be taken in pharmacies Costco
  • Programs eyes pay $45 for an eye test
  • Reimbursement for health care family
The Code Of Ethics, Values, And Philosophy Of Business Costco
Jim sinegal, who is the son of a blacksmith, has set five terms that are simple and understated on the corporate culture of Costco and behavior in the company operates

1. Obey The Rules
In the conduct of business should be to comply with the regulations/ laws in every community. The company promised
  • Obey all the rules and requirements of the law
  • Appreciate all the office positions
  • Obey the rules of working hours and prevailing wage
  • Exceeds the standard ecologist needed in every community where the company conducts business
2. Maintain members
Membership Costco is open on all business owners, as to the individual. Members become the key to success. Costco strives to maintain with a differentiation so that the members do not run away to another store.
3. Maintain employee
4. Respect the supplier
5. Appreciate the shareholders

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