BUS101: Systems Thinking Proposal for Woolworths Inventory
VerifiedAdded on 2021/10/27
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AI Summary
This report presents a Systems Thinking proposal focused on addressing inventory management issues at Woolworths Limited, a leading grocery store in Australia. The problem statement highlights the challenges of excess stock and inventory shortages, which lead to customer dissatisfaction and impact organizational performance. The report identifies key stakeholders, including customers and management, and analyzes the consequences of these inventory issues. It proposes the application of a Systems Thinking approach to solve the identified problems, emphasizing its holistic nature and ability to address the interrelations within the system. A Systems Thinking framework is introduced, consisting of essential data and a systems thinking process, to guide the gathering and analysis of supply and demand information. The proposed solution involves a three-step process: recognizing the problem, analyzing its causes, and proposing a solution. The solution aims to improve inventory management, enhance customer satisfaction, and optimize overall organizational performance by leveraging the insights gained from the Systems Thinking approach.
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