Development of an effective method on improving inventory control in a toys retailing store

Pao Yue-kong Library Electronic Theses Database

Development of an effective method on improving inventory control in a toys retailing store

 

Author: Wan, Hin-ting
Title: Development of an effective method on improving inventory control in a toys retailing store
Degree: M.Sc.
Year: 2005
Subject: Hong Kong Polytechnic University -- Dissertations
Toy industry -- Inventory control
Stores or stock-room keeping
Inventory control
Department: Dept. of Industrial and Systems Engineering
Pages: x, 86, [11] leaves : ill. (some col.) ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1809995
URI: http://theses.lib.polyu.edu.hk/handle/200/4588
Abstract: The retailer's role is always geared towards customer convenience and satisfaction. His role in the distribution channels is to provide outlets that are readily accessible to consumers, and make products available to consumers whenever they need them. Toys "R" Us (TRU), the biggest and the most famous toy retail chain store in the world. In Hong Kong, they operate seven branches. They carry many categories of toys for each store and it means they need to handle many of stock keeping unit (SKU). It is quite challenging to handle them effectively. This project analyzed the existing inventory control performance in TRU and developed assessed an effective method to improve their inventory performance. The practical inventory control method in other companies was studied in order to show how other companies to maintain their inventory level to prevent occurrence of the problem on over-stock and stock-out. Moreover, the method on classification of inventory and their performance measurement would be explained which help for conducting the analysis on existing inventory control performance. The method study was applied on investigating the inventory control performance. Cat: 55 (Lego / Construction Toys) which was the highest annual sales profit of the store and was selected to study. The inventory performance in terms of SKU per linear footage and its inventory control mechanism were recorded in next step. The questioning technique was used for examining Cat: 55 inventory control mechanism. Then, the adoption of the Planogram software for using on inventory control method was developed. After that, the new defined inventory control method was presented. As the result, it showed why the company worth to invest on developing the use of the Planogram for their product finally. In this project, the adoption of new information technology is the key element to achieve the aim to solve the inventory control problem. Besides, the transparency and effective communication should be maintained throughout good channels of communication with other departments, thus understanding their problems and communicating yours to them. That is the collaboration of store personnel and head office staff for inventory control may gain the win-win situation finally.

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