Journal of Supply Chain Management Systems

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Analysis of Different Inventory Control Techniques:A Case Study in a Retail Shop


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1 Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh
     

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The inventory of materials constitutes the most significant part of current assets and working capital in any organisation. A small saving in the inventory will mirror a crucial edge in benefit of the organisation. In Bangladesh, the retail shops generally face two types of inventory related problems which are either stock-out or overstock. As a result, most of the shops fail to maintain their product availability with lowest possible inventory cost. Through proper inventory control techniques, probability of stock-out as well as overstock situations in the retail shops can be minimised. The present paper is a case study of different inventory control techniques for efficient inventory management system of a retail shop of Bangladesh. The sole purpose of the study is to provide a guideline for inventory managers that will help them to ensure product availability at right quantity as and when required. Relevant data were collected from a renowned retail shop, namely, Pran RFL group, Bangladesh. This real case demonstration will certainly help the future researchers as well as the Bangladeshi manufacturers to maintain proper control & management of inventories.

Keywords

Inventory Control, Profit, Stock-Out, Overstock, Retail Shop.
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  • Analysis of Different Inventory Control Techniques:A Case Study in a Retail Shop

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Authors

S. K. Biswas
Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh
C. L. Karmaker
Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh
Ariful Islam
Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh
Nazmul Hossain
Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh
Shamim Ahmed
Department of Industrial and Production Engineering, Jessore University of Science and Technology, Jessore, Bangladesh

Abstract


The inventory of materials constitutes the most significant part of current assets and working capital in any organisation. A small saving in the inventory will mirror a crucial edge in benefit of the organisation. In Bangladesh, the retail shops generally face two types of inventory related problems which are either stock-out or overstock. As a result, most of the shops fail to maintain their product availability with lowest possible inventory cost. Through proper inventory control techniques, probability of stock-out as well as overstock situations in the retail shops can be minimised. The present paper is a case study of different inventory control techniques for efficient inventory management system of a retail shop of Bangladesh. The sole purpose of the study is to provide a guideline for inventory managers that will help them to ensure product availability at right quantity as and when required. Relevant data were collected from a renowned retail shop, namely, Pran RFL group, Bangladesh. This real case demonstration will certainly help the future researchers as well as the Bangladeshi manufacturers to maintain proper control & management of inventories.

Keywords


Inventory Control, Profit, Stock-Out, Overstock, Retail Shop.

References