Data-Driven Optimization of Inventory Management and Sales Strategies for Automotive Component Suppliers
Alahyane, Lahoucine (2024)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202405028718
https://urn.fi/URN:NBN:fi:amk-202405028718
Tiivistelmä
Retail businesses in Morocco have improved in a very rapid way after adopting new technologies. This thesis suggests various ways to make the sales and inventory of retail businesses more efficient by focusing on one of Sahillienne's stores in Morocco.
The goal of this thesis is to offer solutions in order to avoid inventory issues essentially related to overstocking and understocking and find the best timing for when and how much to restock inventory and improve sales.
The methods employed in this study involve gathering data from the Sahillienne store including store operations and customer feedback which can assist other retail businesses as well for better improvement. The methods found in the literature were applied in the theory and concluded reliable sources such as journal articles, books, blogs, etc.
The results of this study have found the store's inventory needs to essentially adopt a strategy that can be forecasting or just in time (JIT) or maybe a combination of both, taking care of customers and knowing their needs by offering good online services which will make them satisfied and increase sales of the store, it's also crucially important for a business to analyze their data before implementing any of these strategies by using ABC methods and key performance indicators (KPIs).
Thus, the results show that these data-driven strategies not only improve sales strategies and inventory levels but also make it easier for customers to get involved in the process. Ultimately, the study strongly supports the idea that data analytics can strictly change the way the product is managed and how sales are planned.
The goal of this thesis is to offer solutions in order to avoid inventory issues essentially related to overstocking and understocking and find the best timing for when and how much to restock inventory and improve sales.
The methods employed in this study involve gathering data from the Sahillienne store including store operations and customer feedback which can assist other retail businesses as well for better improvement. The methods found in the literature were applied in the theory and concluded reliable sources such as journal articles, books, blogs, etc.
The results of this study have found the store's inventory needs to essentially adopt a strategy that can be forecasting or just in time (JIT) or maybe a combination of both, taking care of customers and knowing their needs by offering good online services which will make them satisfied and increase sales of the store, it's also crucially important for a business to analyze their data before implementing any of these strategies by using ABC methods and key performance indicators (KPIs).
Thus, the results show that these data-driven strategies not only improve sales strategies and inventory levels but also make it easier for customers to get involved in the process. Ultimately, the study strongly supports the idea that data analytics can strictly change the way the product is managed and how sales are planned.