Inventory Support System for Retail Shop

Abstract

Nowadays having a traditional way recording inventory were very troublesome. Inventory stock is very important when someone run a retail business. If they are not managing inventory well, they will be experiencing losses as if they supply too much, it will risk damaging the stocks and may spending too much storage costs, and vice versa, if the supplies are not sufficient then the customer needs cannot be fulfilled and they will lose profits. Therefore, demand for next period should be estimated, so that customer demand can still be met and they are not bearing the cost of having too many stocks. Shop XYZ is a retail business that sells household daily needs, and they don’t know exact number of items in the warehouse. With these problems, this research aims to create procedures and how to forecast reorder quantity of each selected items.

Keywords

• inventory management
• inventory stock
• retail business
• standard operating procedures
• stock control