Integrated Inventory Management Control Framework

Authors

  • Ganesha H. R. Chief Executive Officer – Consulting Division, Gramss Retail Trading Private Limited, Bengaluru - 560078, India and Post-Doctoral Research Fellow, College of Management & Commerce, Srinivas University, Mangalore – 575001, India
  • Aithal P. S. Vice Chancellor, Srinivas University, Mangalore – 575001, India.
  • Kirubadevi P. 3 Head of Category Management and Sourcing, Actoserba Active Wholesale Private Limited (Zivame), Bengaluru – 560038, India.

DOI:

https://doi.org/10.47992/IJMTS.2581.6012.0087

Keywords:

Brick-and-mortar store, Offline store, Physical store;, Salespeople;, Salesperson;, Sales Personnel;, Inventory Management;\, Inventory Turns;, Stock Cover;, ; Stock Turns;, Inventory Management Control.

Abstract

The concept of minimum display quantity (MDQ) is unavoidable in brick-and-mortar retailingformat owing to which, retailers need to ensure a minimum level of inventory displayed at eachstore irrespective of the revenue or inventory turns generated by a particular store. It is observedthat majority of bricks-and-mortar retailers in India assume;(a) existing inventory managementsystem is ideal to their store, (b) software solutions record accurate inventory movement, (c)involving store management team in inventory related decision making is risky/biased and mostimportantly (d) loss of sale due to stockouts is inevitable. Such assumptions and widely followedpractice have created a predisposition and mindset in store managers and they believe that theirstore delivers revenue and profit to the best of its potential with the inventory which is madeavailable to them through existing inventory management system and we cannot avoid a numberof instances consumers are unsatisfied due to stockout situations. In this research, we haveanalysed the existing decision-making process and control systems related to inventorymanagement of a select retailer, attempted to design a new framework and applied the samethrough an experiment to evaluate the change in (a) overall store profitability and (b) inventoryrelated key performance indicators.

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Published

2020-04-30

How to Cite

Ganesha H. R., Aithal P. S., & P., K. (2020). Integrated Inventory Management Control Framework. International Journal of Management, Technology and Social Sciences (IJMTS), 5(1), 147–157. https://doi.org/10.47992/IJMTS.2581.6012.0087

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