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Inventory Management || Woolworths Supermarket Assignment

   

Added on  2020-02-23

18 Pages3019 Words2960 Views
Running head: INVENTORY MANAGEMENTInventory ManagementName of the studentName of the UniversityAuthor note
Inventory Management || Woolworths Supermarket Assignment_1
1INVENTORY MANAGEMENTExecutive SummaryThe inventory management helps in understanding the requirements of inventory in theorganization. The chosen organization in this report is Woolworths supermarket wherein theproper determination is required as to understand the importance of stock and operationsmanagement in the organization. Proper analysis is required as to understand theimplementation of strategies that can help in understanding the requirements of ordering,carrying or controlling the quantities of the work in progress as well as finished products forsale of goods and services. The main aim and purpose of the report is to analyze the implementation of strategies that canhelp in identifying the ABC analysis of the goods or the products of the company. The mainpurpose of the report is to understand the importance of inventory and operationsmanagement in various organizations. The conclusion is based on the implementation of strategies that will help in understandingthe importance of inventory management in various organizations. Proper analysis has to bedone that will help the company in identifying the loopholes of the company and rectifying iteasily within stipulated period. The economic order quantity has to be maintained properly bythe companies as to understand the various costs that are attached to it.
Inventory Management || Woolworths Supermarket Assignment_2
2INVENTORY MANAGEMENTTable of ContentsIntroduction....................................................................................................................4Inventory management in Woolworths..........................................................................4Types and nature of inventories.....................................................................................5Supply chain and inventory management of Woolworths.............................................6Types of Demand...........................................................................................................7Quality and inventory management of Woolworths......................................................8Control system of Inventory...........................................................................................9Economic order quantity..............................................................................................10Assumptions of Woolworths on EOQ..........................................................................10ABC Analysis...............................................................................................................11Conclusion....................................................................................................................12References....................................................................................................................14
Inventory Management || Woolworths Supermarket Assignment_3
3INVENTORY MANAGEMENTIntroductionInventory management is proper supervision of different stock as well as assets items.Inventory is the idle stock of goods of a respective company that holds economic value thatcan be held in different forms in the packaging as well as processing or sale in the nearfuture. The report is based on Woolworths Company based in Australia wherein properinventory management has to be maintained by them in order to oversee the storage as wellas production of different food items in the respective company (Woolworths.com.au, 2017).The main aim and purpose of the assignment is to analyze the importance of theinventory as well as operations management in Woolworths Company. As Woolworth is asupermarket in Australia, it is essential for the company to understand the requirement ofinventory management and analyzing the ways to increase the profit of the company. Thepurpose of the assignment is to understand the process through which the company canunderstand the levels of inventory that is required to be maintained by the company. The structure of the assignment includes analyzing the importance of inventorymanagement in different companies. The strategies is required to be adopted by theorganization has to be explained properly in order to generate profitability in the competitivemarket.Inventory management in WoolworthsWoolworths Supermarket is the largest organization across Australia and it has morethan 900 stores in Australia as well. As Woolworths is a supermarket, proper inventory isrequired to be maintained by the company as to have proper understanding about theeconomic value of the goods and evaluating the external and internal factors through properreview and planning (Govindan, Soleimani and Kannan 2015). The inventory management
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