Case Study: Streamlining Inventory Management for a Retail Chain

Background: ABC Retail is a medium$-$sized retail chain with multiple outlets spread across the region. The company deals with a diverse range of products including apparel, electronics, groceries, and household items. With increasing competition and evolving consumer preferences, ABC Retail is facing challenges in effectively managing its inventory across all outlets. The current inventory management system is outdated and manual, leading to inefficiencies, overstocking, stockouts, and ultimately, loss of revenue.

Objective: The objective of this case study is to propose a comprehensive solution to streamline inventory management for ABC Retail, leveraging modern MIS techniques and technologies.

Tasks:

Conduct a thorough analysis of ABC Retail's current inventory management processes, identifying key pain points and areas for improvement.

Propose a suitable inventory management system that integrates technology such as RFID, barcode scanning, and real$-$time data analytics to optimize inventory levels, reduce stockouts, and minimize excess inventory.

Design a user$-$friendly interface for the proposed inventory management system, considering the needs of store managers, inventory controllers, and other stakeholders.

Develop a plan for the implementation of the new inventory management system, including timelines, resource allocation, and training requirements.

Outline strategies for monitoring and evaluating the effectiveness of the new system, including key performance indicators $($KPIs$)$ to track.

Deliverables:

A detailed report outlining the analysis of ABC Retail's current inventory management processes and the proposed solution.

A prototype or mockup of the user interface for the new inventory management system.

An implementation plan with clear steps for deploying the new system.

Recommendations for monitoring and evaluating the success of the implemented solution.

Submission Guidelines:

Each student is required to work individually on the case study.

The submission deadline is three days from the assignment date.

Submissions should be in the form of a written report, with any additional materials $($e$.$g$.,$ prototypes, mockups$)$ included as appendices.

Submissions must adhere to academic integrity standards, with proper citations and references for any external sources used.