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http://dspace.dtu.ac.in:8080/jspui/handle/repository/17992| Title: | Superstore Analysis and Inventory Management |
| Keywords: | Inventory Management Superstore Analysis Supply Chain Management Market Share |
| Issue Date: | 13-Aug-2020 |
| Abstract: | Business Analytics has come up strongly and become an important area of interest not only in the corporate world but also in major areas driving basic needs of society. It comprises of so many more types of analytics. Large amount of investments are being made in business analytics to make better and improved business decisions from the historical data. From small to medium to large businesses, every business needs analysis to be done to perform better by understanding the customer’s perspective and sales purchase patterns. It is also very essential to understand the importance of inventory management in business. All this requires one to analyze the data and pick out the faults. Moving through this project, it will be seen that a huge amount of capital gets stuck at the end of the period as a result of poor inventory management. The presence of excess inventory was due to poor management of inventory and lack of supervision in different areas. In order to make the organization profitable, it is important to understand the various factors linked with all the activities going on in a superstore and also realize that inventory management plays a huge role. Hence, it is important to coordinate the all of them in the stores. |
| Description: | Inventory Management is very important and necessary for any industry be it small, medium or large. It is a very vast topic but it concerns management of inventory by planning and controlling its level. Supply Chain Management (SCM) is known to include a lot of important operations that needs to be carried on for the transformation of raw materials into finished goods that reaches the consumers. These operations include planning, controlling, and executing activities that will aid in transformation in the most efficient and effective manner. SCM takes into account the coordination of activities that look after the arrangement and execution of methods that are required to carry on the work of materials, information and the land in the manner that includes planning and forecasting demand and supply of goods, acquisition, manufacturing, inventory management and logistics. The organizations whether small or large utilize both business methods and particular programming procedures in these undertakings to acquire an upper say. SCM offers many perks or benefits such as increased efficiency, effectiveness, lower cost involved, and so on. SCM helps organizations to see the patterns of demand and supple in the market and respond accordingly to attain maximum customer satisfaction in the most efficient manner. Inventory Management is the all about managing the inventory or the stock level effectively. As a part of SCM, it takes care of flow of finished goods to wholesaler and then to the retailer to make it available to the consumer. It is important to keep a record of every activity in the stock room that is return or exchange, sale and purchase of goods. Associations from little to huge organizations can utilize Inventory Management to deal with their progression of products. Inventory Management is one of the most important things to be taken care of in any industry be it small, large or medium. Inventory Management includes the following: 1 Purchasing Department: This departments stocks in the all the materials needed. Raw Materials: It consists of the materials that are required in the manufacturing of a product. Components: These are additional things needed along with raw materials Production Department: All the purchased material is sent to this department. Finished Product: It the end product of the production department. Sales Department: It the department receiving the finished products for making it available to the customers. Present day super markets are huge extension retailing associations with particularly wide and significant thing assortment. These stores are bit by bit displacing the standard constrained show little extension retail shops. The central spotlight in these stores is on the course of action of a wide bunch of customer benefits instead of battling dependent on cost. The mix of unquestionable, connecting with item and customer organizations are the essential qualities that attract buyer towards superstores. It is imperative to contemplate the attributes of a client and comprehend his conduct so as to more readily comprehend what he needs. Thus, in superstore investigation it is important to look upon most noteworthy deals dependent on branch, most elevated deals dependent on client, most elevated deals dependent on item types, etc. |
| URI: | http://dspace.dtu.ac.in:8080/jspui/handle/repository/17992 |
| Appears in Collections: | MBA |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Superstore Analysis and Inventory.pdf | Inventory Management is very important and necessary for any industry be it small, medium or large. It is a very vast topic but it concerns management of inventory by planning and controlling its level. Supply Chain Management (SCM) is known to include a lot of important operations that needs to be carried on for the transformation of raw materials into finished goods that reaches the consumers. These operations include planning, controlling, and executing activities that will aid in transformation in the most efficient and effective manner. SCM takes into account the coordination of activities that look after the arrangement and execution of methods that are required to carry on the work of materials, information and the land in the manner that includes planning and forecasting demand and supply of goods, acquisition, manufacturing, inventory management and logistics. The organizations whether small or large utilize both business methods and particular programming procedures in these undertakings to acquire an upper say. SCM offers many perks or benefits such as increased efficiency, effectiveness, lower cost involved, and so on. SCM helps organizations to see the patterns of demand and supple in the market and respond accordingly to attain maximum customer satisfaction in the most efficient manner. Inventory Management is the all about managing the inventory or the stock level effectively. As a part of SCM, it takes care of flow of finished goods to wholesaler and then to the retailer to make it available to the consumer. It is important to keep a record of every activity in the stock room that is return or exchange, sale and purchase of goods. Associations from little to huge organizations can utilize Inventory Management to deal with their progression of products. Inventory Management is one of the most important things to be taken care of in any industry be it small, large or medium. Inventory Management includes the following: 1 Purchasing Department: This departments stocks in the all the materials needed. Raw Materials: It consists of the materials that are required in the manufacturing of a product. Components: These are additional things needed along with raw materials Production Department: All the purchased material is sent to this department. Finished Product: It the end product of the production department. Sales Department: It the department receiving the finished products for making it available to the customers. Present day super markets are huge extension retailing associations with particularly wide and significant thing assortment. These stores are bit by bit displacing the standard constrained show little extension retail shops. The central spotlight in these stores is on the course of action of a wide bunch of customer benefits instead of battling dependent on cost. The mix of unquestionable, connecting with item and customer organizations are the essential qualities that attract buyer towards superstores. It is imperative to contemplate the attributes of a client and comprehend his conduct so as to more readily comprehend what he needs. Thus, in superstore investigation it is important to look upon most noteworthy deals dependent on branch, most elevated deals dependent on client, most elevated deals dependent on item types, etc. | 2.05 MB | Adobe PDF | View/Open |
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