Inventory Management System

Inventory Management System

Trendy Clothing, a children’s store is a successful retailer specializing in children’s apparel. The store opened a year ago but is already a solid business in the area. The owner of the store, Megan Freeman has only three years of retail experience. She has two other employees that work full time in the store. The demand for clothes from the store has made it difficult to manually track and order inventory. Megan has decided to invest in an inventory management system. The inventory management system will ensure there is always enough supply to meet demand while keeping as little in stock as possible. The budget for this upgrade needs to stay under $300 dollars.

The retail market has a crucial component of success that lies in understanding the customers but allowing the stocking of the store to meet the demands. The goal is to start to establish a data-driven based operating system that could accurately track buying and selling. The software will then automatically order the required clothing as needed. This will take the guess work out of ordering products for the store.

The asset tracking and inventory management will allow greater control and efficiencies when managing the complete lifecycle of the store. Software and equipment will provide the store the ability to manage the assets and inventory with up to the minute reports. This will allow cost reduction, increased revenue, improved efficiencies and increased visibility. The cost reduction will optimize the inventory and lower the labor cost. The revenue will increase as the software prevents out-of-stock items and tracks trends. The efficiency will improve as data entry errors are eliminated. The store will gain visibility on improvement opportunities.

Trendy Clothing will need to invest money before a return on investment will be seen. The store currently has three business computers used for accounting and ordering products. The inventory control...