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Retail Inventory Management Proposal

This project proposal aims to study retail inventory management using soaps and wafers as examples. The objectives are to understand the evolution of retail inventory management and different related software. It will research inventory management styles used by offline and online retailers then interview managers about aspects like stock keeping, purchasing, and display. The project will analyze two retail inventory management software regarding their usage, interface, and decision-making tools. The expected outcomes are a better understanding of the inventory management chain and how software is used to manage businesses and customer trends. Data will be collected through internet research, publications, interviews and software analysis.

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Aashutosh Chandra
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287 views3 pages

Retail Inventory Management Proposal

This project proposal aims to study retail inventory management using soaps and wafers as examples. The objectives are to understand the evolution of retail inventory management and different related software. It will research inventory management styles used by offline and online retailers then interview managers about aspects like stock keeping, purchasing, and display. The project will analyze two retail inventory management software regarding their usage, interface, and decision-making tools. The expected outcomes are a better understanding of the inventory management chain and how software is used to manage businesses and customer trends. Data will be collected through internet research, publications, interviews and software analysis.

Uploaded by

Aashutosh Chandra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

PROJECT PROPOSAL

PROJECT TITLE: RETAIL INVENTORY MANAGEMENT

OBJECTIVE​: (i) To study the evolution of retail inventory management by taking


soaps and wafers as an example. (ii) To understand different software related to retail
inventory management. For example, Zoho Netsuite and EZOfficeInventory.

BACKGROUND: Gone are the days when customers had limited options for shopping.
Today, if a customer does not find the merchandise at one retail shop, he will shift to another
and retailer can’t afford to lose a single customer in this dynamic market.

It is really important for the retailer to retain his existing customers as well as attract
potential buyers. The retailer must ensure that every customer leaves his store with a smile.
Unavailability of merchandise, empty shelves leave a negative impression on the customers
and they are reluctant to visit the store in near future. Inventory management prevents such a
situation. Thereby we choose to study retail inventory management by taking soaps and
wafers as our products as they are utilized in the daily lives of people.

PURPOSE:

● In the world where people are constantly on the internet and shopping vigorously from
e-commerce sites, retailers have a huge competition in terms of product range and price
range. With this, retailer needs to study the existing market and procure required
merchandise to sustain.

● Earlier retail inventory management was done by memorizing or physical bookkeeping


which made analyzing customer trends and data complex. But today, various software is
taking its place to serve the solution of analyzing and stocking the merchandise.

● Retail inventory management software today, plays an important role in understanding


customer purchasing trends and niche in stocking products, which will sustain customers
and helps in maintaining an optimal level of merchandise.

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PROJECT PROPOSAL
RESEARCH METHODOLOGY:

● Firstly we will research different Retail inventory management styles in offline (Malls
and Local stores ) and Online E-commerce Companies.
● Secondly, we will do an in-depth interview with managers to understand various
aspect of inventory management like Stock keeping units, Track and Maintain
Product data, Storage, Display of Stock, Purchasing and Returning of stock in regards
to Bathing Soaps (bar +Soap) and Wafers ( Lays and Balaji).
● Thirdly, We will study 2 Softwares of Retail inventory management in respect to
Usage, Interface, Tools related to Decision Making etc. of FMCG market

EXPECTED OUTCOMES
● We will have Understanding of Inventory management chain and More In-depth
Knowledge about Retail Inventory Managment system.
● We will Study 2 Retail Inventory management system Actually used to manage the
business.
● Understanding Retail Inventory Managment Chain and Working of Softwares will
Input in studying Marketing, Selling and distribution of Retail inventory management
software and Understanding of B2B Market, Consumer Behavior of Software users
and Customization according to need of Users.

METHODS OF DATA COLLECTION

● Internet

● Magazines, newspaper articles

● Research papers

● Statistics and records

● Primary data through interviews

MENTOR

Dr. Tanushri Banerjee

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PROJECT PROPOSAL
MEMBERS

● Manyata Ashra (20185006)

● Krishna Bhatt (20185007)

● Aashutosh Chandra (20185012)

● Darshan Kamani (20185025)

● Manali Jain (20185031)

● Meet Mandavat (20185034)

● Megha Tiwari (20185064)

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