The management of inventories and inventory management system in a small retail enterprise

Patel, Akshitkumar and Harnett, Denise (2018) The management of inventories and inventory management system in a small retail enterprise. Applied Management Conference, Hamilton, New Zealand, Wintec.

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Abstract or Summary

The study deals with inventory management and inventory management systems in small retail enterprises. The primary aim of this research was to find out issues regarding inventory management and inventory management systems in the small retail business at Evergreen Dairy and Spices. In New Zealand, 97 percent of businesses are small to medium enterprises, and SMEs play an important role in the economy of New Zealand. Inventory management has a tremendous influence on small retail businesses. Data for this research was collected from small retail shops which mainly deal with grocery products. All primary data were gathered using qualitative methods by conducting semi-structured interviews. From analysing the collected data I found many loopholes in the organisation's inventory management system. The evidence shows that the organisation did not use a proven scientific method to manage inventory in the store. The data gathered points to this business facing issues related to turnover of inventory. Based on the findings, suitable suggestions are made for the organisation to improve inventory management and stock control in the business. The suggestions may not apply to all small retail enterprises.

Item Type:Paper presented at a conference, workshop or other event, and published in the proceedings
Keywords that describe the item:Proceedings of the Applied Management Conference, business, marketing, management, inventory management systems, small businesses
Subjects:H Social Sciences > HF Commerce
Divisions:Schools > Centre for Business, Information Technology and Enterprise > School of Business and Adminstration
ID Code:6205
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Deposited On:18 Oct 2018 23:07
Last Modified:18 Oct 2018 23:07

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