In discussing the topic of Inventory Management Systems, it seems that starting with the largest business in the world would be a natural introduction. The challenges of managing a business the size of Walmart are indeed vast. They source supplies from over 70 countries and at any one time hold approximately $32 billion in inventory (Crosby, 2007). Ensuring that the right amount of the right product is on the shelf at the time of a consumers purchase is essential, and extremely complicated. Mistakes made here, resulting in empty shelves, could easily lead a consumer to switch to a competitor, such as Target. In my next few blogs, I will review some of the technology currently utilized by Walmart to meet this goal including Retail Link, EDI, RFID, Transportation Link, and Backhaul Betty.
Crosby, Tim. "How Inventory Management Systems Work" 23 July 2007. HowStuffWorks.com.
INTRO
Throughout the next 7 weeks I will review the Inventory Management Systems as the primary topic of my blog. Inventory Management Systems (IMS) are crucial in the retail world for ensuring that the correct products are available and on shelf when a customer wants to buy them.
I am currently on a project which is seeing the results of the IMS systems that several large businesses utilize between creating and selling products, and I hope this serves as a good opportunity to learn and share more about these technologies.
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