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Executive summary for a project - Case Study Example

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This project has analysed Lulu supermarkets inventory management, specifically focussing on the replenishment process, so as to identity a core weakness that lies within this process, and hence find ways through which such weakness can be addressed and improved in a manner that…
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Download file to see previous pages tified that the core weakness within the replenishment process is delay time where delays at the bottleneck are longer: the time taken in completing the critical activities such as assembling of the required merchandise to be taken to the stores, or ordering of the required merchandise from the suppliers to fulfil market demand (longer lead time). In most instances a FIFO discipline most likely have higher delay time and lower outflow rates even in the best case scenario where there is regularity in processing of the merchandise. Such impact constrains the output rate at the bottleneck. The core solutions derived from the problem analysis to develop a “To-Be” replenishment process aimed at increasing operational excellence includes: Optimising lead time through adoption of just in time technique; the selection of a few strategic and trusted suppliers for whom a strategic partnership is made and the company’s replenishment process is integrated into such supplier’s systems; Vendor managed Inventory system which give control to the suppliers and ensures effective flow of accurate information on the level of merchandise required, which can be enhanced through incorporation of radio frequency Identification (RFID) system in the products; and cross docking where products are transported directly from the suppliers to the stores with the merchandise undergoing little to nil handling.
Attaining operational excellence is critical for any business as organisations cannot afford to have quality issues, high cost operations or even long market cycles (Oracle 3). Notably, one of the core advantages that businesses often attain to achieve is effective inventory management to not only ensure high quality fresh products but also lower costs. Optimal inventory management is vital for any business organisation. The core benefits of having a much leaner inventory includes reduction in operation costs, higher customer satisfaction, and increased sales. In deed Lee (1) ...Download file to see next pagesRead More
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