Implementation of Inventory System: Project Management Report

This report details the Project Management Plan (PMP) and Software Requirement Specification (SRS) for implementing an inventory system in COX’S Road Fruit Market. The project aims to enhance efficiency by automating inventory operations, covering aspects like project charter, work breakdown structure (WBS), risk management plan, and software requirements specification. The PMP includes project objectives, timeframes, budget, and team roles, while the WBS breaks down the project into phases. The risk management plan identifies potential risks and mitigation strategies. The SRS outlines user and system requirements, including functional and non-functional aspects, and presents a use case diagram. The report highlights the expected benefits, such as improved inventory accuracy and cost savings, along with assumptions and constraints. The report concludes with a discussion of the project's various phases and deliverables.

Running head: PROJECT MANAGEMENT
Project management- Implementation of inventory system in COX’s Road fruit market
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Table of Contents
1. Introduction..................................................................................................................................2
2. Project management plan.............................................................................................................2
2.1 Project charter........................................................................................................................2
2.1.1 Project title......................................................................................................................4
2.1.2 Project sponsor................................................................................................................4
2.1.3 Project manager and team members...............................................................................4
2.1.4 Objectives.......................................................................................................................5
2.1.5 Deliverables....................................................................................................................5
2.1.6 Expected benefit.............................................................................................................5
2.1.7 Assumption/Constraints..................................................................................................6
2.1.8 Time-frame.....................................................................................................................7
2.1.9 Budget.............................................................................................................................9
2.2 Work breakdown structure..................................................................................................10
2.3 Risk management plan.........................................................................................................11
2.3.1 Risk identification.........................................................................................................11
2.3.2 Risk analysis.................................................................................................................12
2.3.3 Risk planning................................................................................................................12
3. Software requirements specification..........................................................................................14
3.1 User requirements................................................................................................................14

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3.2 System requirements............................................................................................................14
3.3 Functional and non-functional requirements.......................................................................14
3.4 Use case diagram.................................................................................................................16
4. Conclusion.................................................................................................................................18
Bibliography..................................................................................................................................19

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1. Introduction
The main focus is on the implementation of an inventory system in COX’S Road Fruit
Market which is located in 209 Coxs Road Mall. The project aims to track the inventory levels,
sales, deliveries as well as orders. The inventory system which will be implemented will be
helpful in increasing productivity as well as efficiency by automating the manual tasks which
further helps in increasing growth within the business. In addition to this, the inventory system
utilizes both marketing as well as production for increasing profitability in order to reach to
maximum amount for the entire business investment and further determines as well as tracks the
issues which generally can occur including delayed shipments, improper packages and more. It
is identified that Cox’s fruit market experiences a number of challenges due to lack of inventory
and there is very much high risk of losing sales when stock is out. However, with the help of the
inventory system, forecasting as well as planning can be done which further helps in determining
the viability of opening a number of regional warehouses which are located near the key
customers. This helps in increasing efficiencies as well as for improving service levels such that
the strategic objectives of the entire organization can be successfully achieved.
2. Project management plan
2.1 Project charter
Project name: The name of the project is “implementation of an inventory system” in
COX’S Road Fruit Market.
Project objectives: The objective is to implement an inventory system for increasing
productivity as well as efficiency by automating the inventory operations of COX’S Road
Fruit Market.

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Project time: Inventory system implementation in COX’S Road Fruit Market will mainly take
62 days of time.
Project budget: It is assumed that around $50,000 is needed for completing the
implementation work of the inventory system.
Project scope:
 Designing of the system
 Gathering data of the fruit market
 Developing the database
 Creating a floor plan
 Implementing inventory management system
 Post project review and documentation
Team members: The team members who are involved within the project include:
 Project manager
 Project planner
 HR manager
 Financial manager
 Operations manager
 Sales manager
 IT manager
 Inventory manager
Risks: The risks which can occur during the project progress are listed below:
 Schedule slippage
 Lack of testing

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 Improper designing
 Lack of knowledge among the stakeholders
 Budget shortfall
2.1.1 Project title
The title of the project is “implementation of an inventory system” in COX’S Road Fruit
Market.
2.1.2 Project sponsor
Bietola brothers Sam & Charlie is the project sponsor who is dedicated to implement an
inventory system for updating the COX’S Road Fruit Market.
2.1.3 Project manager and team members
Stakeholder Name
Project manager <Please fill>
HR manager <Please fill>
Financial manager <Please fill>
Sales manager <Please fill>
IT manager <Please fill>
Database administrator <Please fill>
Warehouse worker <Please fill>
2.1.4 Objectives
The main project objective of the project is to implement an inventory system within
COX’S Road Fruit Market for achieving efficiency as well as productivity in the operations of
the organization by automating the manual tasks and for reducing the inventory related costs.

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2.1.5 Deliverables
The project deliverables are listed below:
 Project plan
 Project charter
 Feasibility report
 Database development
 Implementation of location management
 Creation of floor plan
 Creating layout
 Implementation of inventory system
 Documentation of the project
2.1.6 Expected benefit
The expected benefits of implementing inventory management system within COX’S
Road Fruit Market are elaborated below:
Improve the accuracy of the inventory orders: It is identified that inventory
management mainly assits in figuring out how much inventory is generally needed and this
further helps in preventing shortage of the product (Mountz et al. 2018).
More organized warehouse: It is found that good inventory management generally
helps in supporting a warehouse that is organized. The fruit market can be able to optimize their
warehouse by generally putting the highest selling of the products and in very much accessible
places which further helps in increasing speed and keeps the customers happy.

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Helps in saving both time and money: Proper implementation of inventory system
helps in saving money as well as time (Disney et al. 2016). It is found that by properly keep
proper track on the products which are ordered one can be able to save time and also helps in
saving money.
Tracking: One of the most important advantages of an inventory system is that is that it
helps in tracking and generally helps in improving transparency (Tirinato et al. 2018).With all
the different assets which are mainly tracked constantly, one can be able to understand both the
strengths as well as weaknesses of the business properly. In addition to this, it generally helps in
improving the relationships with the vendor.
2.1.7 Assumption/Constraints
While implementing the inventory management systems, following assumptions are
mainly made by the project manager and the assumptions are mainly elaborated below:
 The project manager generally assumes that the work that is associated with the
implementation of the inventory system gets executed within 62 days of time.
 As per the assumption, it is identified that around $50,000 is needed for completing the
implementation work of the inventory system.

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2.1.8 Time-frame
The table which is showcased below reflects that the implementation of inventory
management system will gets completed within 62 days.
WBS Task Name Duration Start Finish
0
Implementation of inventory
management System for
COXS fruit market
62 days Mon 06-01-20 Tue 31-03-20
1 Initiation phase 12 days Mon 06-01-20 Tue 21-01-20
1.1
Development of business
case
3 days Mon 06-01-20 Wed 08-01-20
1.2 Feasibility study 3 days Thu 09-01-20 Mon 13-01-20
1.3 Establishing project charter 2 days Tue 14-01-20 Wed 15-01-20
1.4 Appointing team members 4 days Thu 16-01-20 Tue 21-01-20
1.5
Milestone 1: Completion of
initiation phase
0 days Tue 21-01-20 Tue 21-01-20
2 Planning phase 13 days Wed 22-01-20 Fri 07-02-20
2.1
Development of project
plan
4 days Wed 22-01-20 Mon 27-01-20
2.2
Development of resource
plan
3 days Tue 28-01-20 Thu 30-01-20
2.3
Development of financial
plan
3 days Fri 31-01-20 Tue 04-02-20

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2.4
Development of quality
plan
3 days Wed 05-02-20 Fri 07-02-20
2.5
Milestone 2: Completion of
planning phase
0 days Fri 07-02-20 Fri 07-02-20
3 Designing phase 8 days Mon 10-02-20 Wed 19-02-20
3.1 Gathering ideas 4 days Mon 10-02-20 Thu 13-02-20
3.2 Designing the system 3 days Fri 14-02-20 Tue 18-02-20
3.3 Confirming the design 1 day Wed 19-02-20 Wed 19-02-20
3.4
Milestone 3: Completion of
design phase
0 days Wed 19-02-20 Wed 19-02-20
4 Implementation phase 21 days Thu 20-02-20 Thu 19-03-20
4.1 Development of database 4 days Thu 20-02-20 Tue 25-02-20
4.2
Implementing location
management
3 days Wed 26-02-20 Fri 28-02-20
4.3 Create a floor plan 2 days Mon 02-03-20 Tue 03-03-20
4.4
Utilize sticky notes for
each product category
1 day Wed 04-03-20 Wed 04-03-20
4.5
Make signs for each
product
3 days Thu 05-03-20 Mon 09-03-20
4.6 Utilizing layout 2 days Tue 10-03-20 Wed 11-03-20
4.7 Product data 1 day Thu 12-03-20 Thu 12-03-20
4.8 Implementation of 2 days Fri 13-03-20 Mon 16-03-20

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Inventory management system
4.9 Cycle counts 3 days Tue 17-03-20 Thu 19-03-20
4.10
Milestone 4: Completion of
implementation phase
0 days Thu 19-03-20 Thu 19-03-20
5 Closure phase 8 days Fri 20-03-20 Tue 31-03-20
5.1 Post project review 4 days Fri 20-03-20 Wed 25-03-20
5.2 Stakeholder sign off 2 days Thu 26-03-20 Fri 27-03-20
5.3 Documentation 2 days Mon 30-03-20 Tue 31-03-20
5.4
Milestone 5: Completion of
closure phase
0 days Tue 31-03-20 Tue 31-03-20
2.1.9 Budget
The table that is reflected below suggests that around $50,000 is needed for the
implementation of the inventory system.
Items Budget
Hardware $20,000
Software $10,000
Human resources $15,000
Other materials $5,000
Total budget $50,000

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2.2 Work breakdown structure
Figure 1: Work breakdown structure
(Source: Created by Author)
The above figure showcases the WBS of the inventory system that will be implemented
in COX’S fruit market. From the above figure, it is identified that the entire project is mainly
categorized into four various project phases including initiation phase, planning, designing,
implementation and closure phase (Kerzner 2017). In the initiation phase, business case is
created and the project manager checks the project feasibility ensuring that the undertaken
project is quite feasible. In addition to this, proper project plan, resource plan, financial plan as
well as quality plan is developed. Moreover, the entire design for the inventory system will be