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Article : Inventory Management Practices and Sales Performance in Retail Outlets: Case
of Supermarkets in Nakuru Town, Kenya
Journal : International Journal of Social Science and Humanities Research
Publisher : Research Publish Journals
Volume : 6
Issue : 4
Year : 2018
Keywords : Inventory Management Practices, Sales Performance, Retail Outlets,
Supermarket
The ability to achieve a seamless flow of inventories remains to be a major challenge among
retail stores in Kenya. Major retail companies in Kenya have entered into quantity or time-
based service contracts with suppliers. While was envisaged to that this will lead optimal
stock management, most of these retail companies suffer from both overstocking and stock
run-outs, a potential source of low sales. In view of this, this study seeks to bring to the fore
the likely influence of inventory management practices on sales performance among retail
stores in Nakuru Town. Specifically, the study brings to the fore the influence of four
practices; inventory management systems, strategic supplies selection, vendor managed
inventory and inventory forecasting practices. A census of 80 employees working in the 16
retail stores within Nakuru town was adopted. Inventory management systems and vendor
managed inventory was found to have a positive and significant relationship with sales
performance of retail stores. Based on the current findings. This calls for the retail outlets to
take a critical look and analyze their inventory practices, before their implementation.
2. Journal : International Review of Management and Marketing
Author(s) : Widyastuti Widyastuti, Nadia Asandimitra, Yessy Artanti
Affiliation : Universitas Negeri Surabaya, Indonesia
Author Email : nadiaharyono@unesa.ac.id
Publisher : EconJournals
Volume : 8
Issue : 1
Year : 2018
Start Page : 64
End Page : 67
Keywords : Inventory Management, Raw Materials, Inhibiting Factors, Perishable
The production process in a business will run smoothly if the company has adequate raw
material availability. Raw materials is one of the factors of production that management is
quite complicated to do. The production process can not run smoothly if the available raw
materials are not sufficient so that eventually the company will lose consumers. Conversely,
an excess inventory of raw materials can increase storage costs, increasing the risk of damage
so as to reduce the profit earned. For SMEs who produce food and beverages, managing raw
material inventory is an important thing to do to get quality products so as to improve its
performance. Raw materials used to make the production process is a raw material that is easy
to rot and perishable. MSMEs are required to be able to produce quality products using fresh
raw materials. This study aims to analyze the obstacles encountered by MSMEs in managing
raw material inventory. Based on the results of the research can be seen that the availability of
raw materials on the market, as well as unstable prices is a factor inhibiting MSMEs in doing
raw material inventory. In addition, the storage of raw materials that still simple also become
a constraint MSMEs to store raw materials in large quantities. Therefore, the government's
role in stabilizing prices and supporting the availability of raw materials on the
market.Keywords: inventory management, raw materials, inhibiting factors,
3. Article : Supply Chain Management on the Production Process and Distribution Flows of
the Superior Teak Seedlings Production
Journal : International Journal of Supply Chain Management
Author(s) : Muhammad Alkaff, Marimin Marimin, Yandra Arkeman, Sukardi Sukardi,
Herry Purnomo
Publisher : ExcelingTech Publisher
Volume : 7
Issue : 3
Year : 2018
Start Page : 16
End Page : 23
Management of supply chain that interrelates and integrates both consumers and suppliers in
a process to make a value of product or service for consumers is very importance and
strategic as well. The research objective is to analyze and improve the sustainability
performance of production process and distribution flow of the teak seedling production
within its supply chain. This research used multiple dimensional analysis and value stream
mapping to identify the sustainability performance and analytical network process to find the
key factors that improve the SCM performance of superior teak production. The research
found that 1) the Parameter influencing SCM is supplier and therefore it requires system
improvement. The problem is that the delivery of materials purchased in Surabaya takes too
long time before they are stored in the warehouse. Placing a purchase order long time
beforehand may apparently solve the problem. But in fact, it creates another problem because
the materials are not to be stored in the warehouse for a long time due to their short expiry
date and due to the limited infrastructures like warehouse and roads. SCM values on the
production system of superior teak seedling production of BPPT located in Jatisari area is
56.62 with a quite high category.
4. Article : Fuzzy Expected Value Approach to Solve Integrated Supplier Selection and
Inventory Control Problem in Fuzzy Environment
Journal : International Journal of Supply Chain Management
Author(s) : Sutrisno Sutrisno, Widowati Widowati, R Heru Tjahjana
Publisher : ExcelingTech Publisher
Volume : 7
Issue : 3
Year : 2018
Start Page : 24
In a production and inventory planning management, the future parameters like future
demand, future product buying cost, future transport cost and future holding cost are
obviously unknown/uncertain. To determine the optimal strategy in uncertain condition, a
method that can handle the uncertainty of parameters is needed. If the historical data of the
uncertain parameters are known then they can be approached by using probability
distribution, but if there is no historical data then it cannot be used. In this paper, we propose
a new mathematical optimization model with fuzzy parameters to solve an integrated supplier
selection problem and inventory control problem in fuzzy environment where fuzzy variables
are used to approach the uncertain parameters. To solve the corresponding optimization
problem, we use fuzzy expected value based integer quadratic programming where the fuzzy
variables are approximated by fuzzy expected value. From the numerical experiment results,
the optimal strategy i.e. the optimal supplier and the optimal stored product volume were
obtained and the actual inventory level followed the desired level with minimal total expected
cost.
5. Article : Deployment of Information Communication Technologies (ICT) and the
Performance of Small and Medium Retail Stores in Sango-Ota Area of Ogun State, Nigeria
Journal : American Journal of Economics, Finance and Management
Author(s) : Samuel Sunday Eleboda, Yinka Solomon Aransiola
Affiliation : Department of Administration and Management, College of Business and
Social Sciences, Crawford University, Faith City, Nigeria.
Publisher : Public Science Framework
Volume : 3
Issue : 5
Year : 2017
Start Page : 46
End Page : 55
The purpose of this study is to gain an understanding of the factors which influence the adoption
and usage of ICT by retail SMEs in Nigeria. It therefore examined the effect of ICT deployment
on three main performance indicators which are sales, productivity, and inventory management.
The study population consisted of employees and customers of retail stores in the study area
whose actual number cannot be ascertained. A sample size of 160 (one hundred and sixty)
respondents was selected. The research instrument was the questionnaire and the analytical
techniques included both descriptive and inferential statistics. The results of this study show that
the factors examined are significantly important to the deployment of ICT. This implies that all
the five independent variables have significant impact on inventory management performance.
However, some of the components of ICT deployment were found to be insignificant in
determining their adoption. The study concluded that majority of retail stores have limited usage
of ICT in business activities. This may be caused by internal and external factors. Those SMEs
who are interested in promoting their businesses based on ICT may find these results helpful in
guiding their efforts. The study recommends that the information communication technology
trends should be complemented by delivering on what customers truly want and value by not only
listening to what customers say, but also by analyzing their purchase behaviour.
9. Article : Study on Inventory Management and its Control Techniques in Wheels India
Limited
Journal : Anveshana’s International Journal of Research in Regional Studies, Law, Social
Sciences, Journalism and Management Practices
Author(s) : Revathi V, Bhuvaneshwari G
Publisher : Anveshana Educational and Research Foundation
Volume : 1
Issue : 8
Year : 2016
Start Page : 266
End Page : 269
Keywords : Corporate Training, E-Learning Platform, Effectiveness, Multiple Linear
Regression
The term ‘inventory’ originates from the French word ‘Inventaire’ and Latin word
“inventariom’ which implies a list of things found. The more popular of them are ‘the term
inventory includes materials – raw, in process, finished packaging, spares and others stocked
in order to meet an unexpected demand or distribution in the future’. The research was
conducted mainly to study the inventory management and its control techniques in wheels
India limited. The secondary objectives were to classify various materials based on ABC
analysis, to analyse the Economic Order Quality& Economic Batch Quantity, to calculate the
Financial Ratio’s in relation with Inventory,to study trend of inventory in wheels India limited
and to provide suggestions and recommendations to improve the inventory management
controlling techniques and policies. The details regarding the history, finance and inventory
policies of the company were collected through discussion with company officers, annual
reports and stores ledger. Secondary data was collected through annual reports and stores
ledger. The data collected were analyzed with the help of inventory control techniques viz.
economic order quantity, economic batch quantity, ABC analysis, inventory ratios and
statistical tools namely correlation analysis and trend analysis. . It was found from the
research that the inventory management is a complex action because of the large amount of
material that is being used and the study reveals that the inventory management is a complex
action because of the large amount of material that is being used. The company must take
proper technique to control the inventory and it is better for the company to reduce the
inventory level to a considerable degree so that the profitability of the company might
improve by way of unnecessary locking up of capital.
10. Article : Factors Affecting Performance of Inventory Tracking and Tracing System at
Mechanical Stations in North Rift, Kenya
Journal : International Journal of Academic Research in Business and Social Sciences
Author(s) : Shidiavayi D S, Wachilonga L W, Iravo, A M
Publisher : Human Resource Management Academic Research Society
Volume : 6
Issue : 7
Year : 2016
Start Page : 57
End Page : 85
Keywords : Performance
This research aims to evaluate the factors affecting effectiveness of a modern inventory
tracking system in improving the logistics performance in public sector.A survey in the
ministry of transport and infrastructure stations in the northern rift valley formed area for this
study. In today’s competitive marketplace which is characterized by rapidly changing
business requirements, leveraging leading edge technologies and adopting best practices are
essential in order to ensure sound logistical support that guarantees both effectiveness and
efficiency in the transportation processes. The main purpose of this research project is
therefore to establish that the use of information technology is feasible in transport industries,
explain possible obstacles and also any major advantages of its implementation. Secondly, as
regards the theoretical aspect, a broadened view on the use of various positioning, and factors
affecting effective inventory management systems. Within north Rift region, the division has
no visibility progress on inventory while on transit, ware houses (stores) and relay heavily on
manual information processing. Likewise, monitoring of whereabouts of its road working
equipment to ensure they are not being misused. The region under the study has poor road
network and inadequately cellular base station coverage. Quantitative statistical methods of
analyzing limits will also be employed on the data collected from the field. Quantitative
research, known as ’number-crunching’, uses techniques that apply more to numerical data,
where researchers develop variables or concepts which can be measured, and transform them
into specific data-collection techniques.
11. Article : A Study on Relationship between Inventory Management and Company
Performance: A Case Study of Textile Chain Store
Journal : Journal of Advanced Management Science
Author(s) : Syed Jamal Abdul Nasir Bin Syed Mohamad, Nurul Nadia Suraidi, Nabihah
Amirah Abd Rahman, Raja Durratun Sakinah Raja Suhaimi
Affiliation : Universiti Teknologi Mara, Shah Alam, Malaysia
Author Email : syedjamal145@salam.uitm.edu.my
Publisher : Engineering and Technology Publishing
Volume : 4
Issue : 4
Year : 2016
Start Page : 299
End Page : 304
This paper reports the findings of an applied research on inventory management at a textile
chain store in Malaysia. It specifically examined the relationship between inventory
management and company’s performance. Interviews with the company management were
conducted to identify the inventory management issues and system used by the company. The
relationship between the inventory management and company performance was determined
based on inventory days and return on asset (ROA) analysis. The research found that
company X had a few inventory problems such as unorganized inventory arrangement, large
amount of inventory days / no cycle counting and no accurate records balance due to
unskilled workers. The study also proved that there was a significant relationship between
return on asset (ROA) and inventory days. This paper also provides recommendation to the
company and for further research.
14. Article : Factors Affecting Efficient Stores Operations in Kenya Tea Development
Agency Managed Factories (KTDA) : A Survey of Factories in Zones 4 and 5, Kenya
Journal : International Journal of Academic Research in Accounting, Finance and
Management Sciences
Author(s) : Grace Muoni Githu, Mark Kanda
Publisher : Human Resource Management Academic Research Society
Volume : 5
Issue : 4
Year : 2015
Start Page : 46
End Page : 53
Keywords : Staff Training On Stores Operation, Records Management, Effects of
Information Technology and Proper Scheduling in Improvement of Stores Efficiency
The purpose of this study was to determine the factors affecting efficient stores operations in
KTDA managed factories in Kenya, four objectives guided the study .The study was a
descriptive research that adopted a survey design. The targeted populations were employees
working at KTDA managed factories in zones 4 and 5 at managerial levels and in store
departments. Questionnaires were used to collect data from respondents. The study employed
both quantitative and qualitative research in its data analysis. Data was presented using bar
graphs, pie charts and tables. Inferential statistics included correlation and regression analysis.
Study findings revealed that KTDA factories do not offer regular training to stores personnel
especially on store operations and management however the study further revealed that in
general IT had helped the factories streamline store operations more effectively. Respondent
further indicate that the record management system used in factories was semi-computerized
rating it to be average. The findings revealed that the current scheduling process in the KTDA
factories is poor and inventories records are rarely audited The study recommended that
KTDA factories should offer regular training programs to the employees in order to improve
their skills and knowledge. The study further recommended that they should fully
computerise record management systems in order to enhance accuracy. The study further
recommended that there was need for improvement of existing scheduling process in order to
improve service delivery in stores.
18. Article : Promotion Planning and Supply Chain Contracting in a High-Low Pricing
Environment
Journal : Production and Operations Management
Author(s) : Andreas Breiter, Arnd Huchzermeier
Affiliation : Chair of Production Management, WHU—Otto Beisheim School of
Management, Vallendar, Germany
Author Email : andreas.breiter@whu.edu
Publisher : John Wiley and Sons, Ltd
Volume : 24
Issue : 2
Year : 2015
Start Page : 219
End Page : 236
Keywords : Supply Chain Management, Risk Management, Price Promotions, Retailing
Demand forecast errors threaten the profitability of high-low price promotion strategies. This
article shows how to match demand and supply effectively by means of two-segment demand
forecasting and supply contracts. We find that demand depends on the path of past retail
prices, which leads to only a limited number of reachable demand states. However, forecast
errors cannot be entirely eliminated because competitive promotions entail some degree of
random (i.e., last-minute) pricing. A hedging approach can be deployed to distribute demand
risk efficiently over multiple promotional campaigns and within the supply chain. A retailer
that employs a portfolio of forward, option, and spot contracts can avoid both stockouts and
excess inventories while achieving the first-best solution and Pareto improvements. We
provide an improved forecasting method as well as stochastic programs to solve for optimal
production and purchasing policies such that the right amount of inventory is available at the
right time. By connecting a stockpiling model of demand with the supply side, we derive
insights on optimal risk management strategies for both manufacturers and retailers in a
market environment characterized by frequent price promotions and multiple discount levels.
We employ a data set of the German retail market for a key generator of store traffic--namely,
diapers.
19. Article : Study on MMF and Inventory Index on Inventory Management Practices at a
Medical College Teaching Hospital
Journal : IOSR Journal of Business and Management
Author(s) : Arun Mavaji Seetharam, Somu G, Sudhakar Kantipudi, Jibu Thomas,
Nagaraj, Sujith Kumar
Affiliation : Department of Hospital Administration, Kasturba Medical College,Manipal,
Manipal University, Manipal, India
Publisher : International Organization of Scientific Research
Volume : 17
Issue : 4
Year : 2015
Start Page : 60
End Page : 65
Keywords : Inventory Management, Monthly Maintenance Figures, Inventory Index
Materials management is an important issue for healthcare systems because it influences
clinical and financial outcomes. Reducing costs in hospital inventory management is always
critical for administrators at health care institutions. The study attempts to assess two
techniques, Monthly maintenance figures and Inventory Index which have contributed to
efficient management of Inventory at a large tertiary care teaching hospital. Aim:To evaluate
the best practices in material management at a general stores of a tertiary care teaching
hospital.
20. Article : Stores or Warehouse Design and Operations: Assessing its Effectiveness, Case
Study of Regional Medical Stores, Kumasi
Journal : European Journal of Business and Management
Author(s) : Appah Kenneth Asiamah, Agyekum Emmanuel, Gloria Pokua-Duah
Publisher : International Institute for Science, Technology and Education
Volume : 7
Issue : 32
Year : 2015
Start Page : 67
End Page : 72
Keywords : Warehouse or Stores, Operations, Design, Distribution Center (DC) ,
Inventory, Stock Control, Drugs and Non-Drugs, Layout, Order
Storing is an integral part of every logistics systems and plays a vital role in providing a
desired level of customer service at the lowest possible cost. Storage and operations are linked
in that, the producer or manufacturer sends the ordered products or items to the purchaser
who receives and stores them and finally distributes or serves its customers. There is therefore
the need for those units to operate together to serve the markets (various districts) to have
value for money and customer satisfaction.More so, determining the size and number of
warehouse facilities are interrelated decisions in that they have an inverse relationship; that is,
as the number of warehouse increases, the average size of each warehouse decrease. The
general trend is to have fewer, but larger warehouses in an organization’s distribution
system.In addition, one of the more important decisions facing logistics executives is how to
determine the size and number of organization’s warehouses. To this effect, where should
these facilities be located? Finally, each warehouse must be laid out and designed properly in
order to maximize efficiency and productivity.Warehouse stores all products, where these
distribution centers (DC) hold minimum inventories and predominantly high-demand items
(Stock, 1993). These warehouses handle most products in four cycles (receive, store, ship and
pick). Warehousing is used for the storage of inventories during all phases of the logistics
process. In simple terms, two basic types of inventory exist: (1). Raw materials, components,
and parts (Physical supply); and (2). Finished goods (physical distribution) (Stock & Lambert,
2001). There also may be goods-in-process inventory, although in many firms such as the
Regional Medical Store-Kumasi, goods-in-process constitute only a small portion of its total
investment in inventories. The study examined the effectiveness of Stores or Warehouses
design and operations. The objectives of the researchers were to examine how the RMS has
effectively designed its stores and warehouse and how it operates.The research looks at the
effectiveness of stores or warehouse design and its operations as a case study. This is a fact-
finding study which seeks to find out the design of warehouses and the storage and
distribution of products and materials at and between point of origin and point of
consumption, and provides information to management on the status, conditions and
disposition of items being stored (Lambert et al, 1998). The researchers used purposive
random sampling technique.
24. Article : Association Rules in Data Mining: An Application on a Clothing and Accessory
Specialty Store
Journal : Canadian Social Science
Author(s) : Mutlu Yüksel Avcilar, Emre Yakut
Affiliation : Osmaniye Korkut Ata University, Osmaniye, Turkey
Publisher : Canadian Academy of Oriental and Occidental Culture
Volume : 10
Issue : 3
Year : 2014
Start Page : 75
End Page : 83
Keywords : Specialty Retailer Store, Data Mining, Association Rules
Retailers provide important functions that increase the value of the products and services they
sell to consumers. Retailers value creating functions are providing assortment of products and
services: breaking bulk, holding inventory, and providing services. For a long time, retail
store managers have been interested in learning about within and cross-category purchase
behavior of their customers, since valuable insights for designing marketing and/or targeted
cross-selling programs can be derived. Especially, parallel to the development of information
processing and communication technologies, it has become possible to transfer customers
shopping information into databases with the help of barcode technology. Data mining is the
technique presenting significant and useful information using of lots of data. Association rule
mining is realized by using market basket analysis to discover relationships among items
purchased by customers in transaction databases. In this study, association rules were
estimated by using market basket analysis and taking support, confidence and lift measures
into consideration. In the process of analysis, by using of data belonging to the year of 2012
from a clothing and accessory specialty store operating in the province of Osmaniye, a set of
data related to 42.390 sales transactions including 9.000 different product kinds in 35
different product categories (SKU) were used. Analyses were carried out with the help of
SPSS Clementine packet program and hence 25.470 rules were determined.
26. Article : Pulling Drugs along the Supply Chain: Centralization of Hospitals' Inventory
Journal : International Journal of Engineering Business Management
Author(s) : Iannone Raffaele, Lambiase Alfredo, Miranda Salvatore, Riemma Stefano,
Sarno Debora
Affiliation : Department of Industrial Engineering, University of Salerno, Fisciano, Italy
Publisher : SAGE Publications
Volume : 6
Year : 2014
Keywords : Pharmaceutical SCM, Drug Inventory Management, GPO, Electronic Medical
Records, Material Requirement Planning
Due to the economic crisis and the predominance of drug expenditure in healthcare costs, the
cooperation of groups of hospitals to negotiate with suppliers and centralize warehouses has
been a recent trend in the pharmaceutical supply chain.This paper shows the economic
convenience of centralizing the hospitals' inventory decisions (how much/when to order)
based on the sharing of medical prescriptions of patients along the supply chain.The logistic
network under investigation (TO BE model) integrates: a central pharmacy negotiating with
suppliers, collecting hospital orders, storing and distributing materials; a number of hospitals
feeding their medical units with materials; and a number of medical units taking care of their
patients.The study is carried out comparing the cost performances of the proposed model with
a non-cooperative one(in which hospitals manage their stocks individually) by means of
simulation.
29. Article : Inventory Management by Implementation of Abc Analysis upon Medium Scale
Industry
Journal : International Journal of Scientific Research
Author(s) : Sanjeev Singh Chouhan, Abhishek Yadav
Publisher : World Wide Journals
Volume : 2
Issue : 8
Year : 2013
Keywords : Inventory Management;Raw Materials;Materials Management;Production
Process;Inventory Control
Conversion of raw materials into finished goods is the main function of every production
firm. Required raw materials if purchased and stocked in advance, ensures smooth production
process. But, how much should be purchased? How to stock it? How to release the stock?
What costs are involved? How to control the costs of acquiring and storing materials? All
these issues call for Materials Management. Materials management involves Materials
acquiring-purchasing, receiving and storing, inventory control, disposal of surplus and control
on scrap. Effective materials management is key to a firm’s profitability. The purpose of this
paper is to investigate the reasons behind the inventory management inefficiency in Industry
by implementation of ABC, and then the proposed managerial suggestions will be presented
to deal with the issues.
30. Article : Analyzing the Efficient Execution of in-Store Logistics Processes in Grocery
Retailing--The Case of Dairy Products
Journal : Production and Operations Management
Author(s) : Gerald Reiner, Christoph Teller, Herbert Kotzab
Affiliation : Faculty of Economics and Business, Université de Neuchâtel,
Neuchâtel, Switzerland
Author Email : gerald.reiner@unine.ch
Publisher : John Wiley and Sons, Ltd
Volume : 22
Issue : 4
Year : 2013
Start Page : 924
End Page : 939
Keywords : In-Store Logistics, Data Envelopment Analysis, Process Simulation, Grocery
Retailing
In this article, we examine in-store logistics processes for handling dairy products, from the
incoming dock to the shelves of supermarkets and hypermarkets. The efficient execution of
the in-store logistics related to such fast-moving, sensitive, and essential items is challenging
and crucial for grocery retailers' sales, profits, and image. In our empirical study, we survey
in-store logistics processes in 202 grocery supermarkets and hypermarkets belonging to a
major retail chain in central Europe. Using a data envelopment analysis (DEA) and
simulation, we facilitate process benchmarking. In particular, we identify ways of improving
in-store logistics processes by showing the performance impacts of different managerial
strategies and tactics. The DEA results indicate different efficiency levels for different store
formats; the hybrid store format of the small hypermarket exhibits a comparatively worse
performance in the analyzed execution of in-store logistics processes. The process simulation
analysis reveals that the strategic and tactical design of in-store logistics processes (such as
store locations/layouts, capacity management, reorder time, order period, and safety stock
factors) lead to substantial service performance improvements (such as higher on-shelf
availability combined with reduced inventory obsolescence costs). The results also show
marginal improvements in the performance figures when delivery delays and damage to
products are reduced.