Strategic growth through inventory management in a small and medium-sized enterprise (SME)

Bhamblani, Yash and France, Adrian (2018) Strategic growth through inventory management in a small and medium-sized enterprise (SME). Applied Management Conference, Hamilton, New Zealand, 23-25 October, 2018.

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Abstract or Summary

This research is based on a small and medium-sized enterprise. The research focuses on growth of business in terms of sales. Inventory of the store has been thoroughly analysed in order to determine thigh profit items as well as finding products that can be removed to help reduce holding cost in the store. In order to determine the contribution of products towards sales, ABC analysis has been used. The method of collecting data is a combination of quantitative and qualitative in the form of past year sales records of top 50 highest selling items and interviewing staff to determine the time frame of purchasing. This helps in determining the holding time period as well as the holding cost of products. LIFO and FIFO accounting methods have been used to determine the movement of products so that best quality is served to customers. After analysing the sales records and the interview of the manager, the research suggests that LIFO is the most effective method for this store. Goods have been bifurcated to determine the priority of maintaining stock of fast selling items to ensure high profitability by increasing sales.

Item Type:Paper presented at a conference, workshop or other event, and published in the proceedings
Keywords that describe the item:small and medium-sized enterprise, SME, business, growth
Subjects:H Social Sciences > HF Commerce
Divisions:Schools > Centre for Business, Information Technology and Enterprise > School of Business and Adminstration
ID Code:6538
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Deposited On:17 Dec 2018 21:24
Last Modified:17 Dec 2018 21:24

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