Managing Inventory: please respond to following

Business & Finance
Tutor: None Selected Time limit: 1 Day

Describe a retail business with which you are familiar and determine the most suitable means of inventory control. Examples to support answer

For the same business discuss what innovative steps you could take to deter employee theft and/or shoplifting

May 26th, 2015

supermarket

The most suitable means of inventory control in a supermarket is to use ABC analysis where you separate your products into three groups: A,B an C.Expensive,less expensive and inexpensive items go into group A,B and C respectively.This will facilitate organization of data and knowledge of how long it will take to order different products based on the group which they're in.Since this system does not set rigid standards on how many products to keep on hand,you can do the res with the help of inventory control software.

Most supermarkets such a walmart use ABC analysis as a tool for inventory management and control.



May 26th, 2015

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May 26th, 2015
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May 26th, 2015
Dec 9th, 2016
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