Answer to Question #243061 in Management for Nithya

Question

01. Brief note. Suppose that you have been appointed as a manager in a Supermarket. Due to the prevailing situation in the worlddue to Covid-19 pandemic, your organization is experiencing an inventory shortage. Explain the requirements for an effective Inventory Management in this emergency situation of your Supermarket.

Answer 1

Inventory control is also referred to as stock control. Supply chain management (SCM) is one of the most integral part in inventory control. SCM controls the flow of good and services in a business. If a business experiences shortage flow of goods the solution can be found in the supply chain management. The following are some of the requirement a supermarket manager can use to ensure the organization does not experience inventory shortage .

1. Having a good inventory control plan can address all issues affecting inventory. Purchasing a good software that accounts for production and selling can help in forecasting the future of the supermarket.
2. As the manager constant update of the plan should take place every month to ensure proper execution.
3. Determine which stock is the backbone of the sales and ensure it never goes out of stock.
4. Review all the shipments and ensure there are no damages or loss.
5. Always have back up plan such as insurance.