This project aims to evaluate inventory management practices in a retail organization and recommend strategies to minimize holding costs, prevent stockouts, and improve supply chain coordination for better operational efficiency and profitability.
Study current inventory management system and stock control methods.
Collect data on stock turnover ratio and reorder levels.
Analyze demand forecasting and procurement planning processes.
Identify issues related to overstocking and understocking.
Apply inventory models such as EOQ and ABC analysis.
Evaluate warehouse storage and product categorization methods.
Assess supplier lead times and replenishment cycles.
Recommend improved reorder point and safety stock levels.
Conduct financial analysis of inventory carrying costs.
Suggest technology-based improvements such as inventory software.
Measure expected operational improvements after recommendations.
Prepare a comprehensive operational improvement report.
