An evaluation of the role of inventory management in enhancing business performance in fast moving consumer goods (FMCG) retail supermarkets: The case of Gutsai Convenience Stores
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The purpose of this research is to ascertain whether inventory management has a role to play in enhancing the performance of the business. A total of 15 managerial employees were interviewed through questionnaires and GCS (Pvt) Ltd was used as a case study to act as a proxy of the entire industry. The research is based on a case study of GCS with information coming from literature and interviews from GCS managerial employees. The study is mainly inductive in its approach. The business success of a retail supermarket lies with its ability to manage inventory properly. A well coordinated inventory management policy and control systems enhances business performance. The researcher recommended that GCS should come up with clearly defined policies and procedures that are clearly communicated to its entire staff. POS transactions must be reviewed daily in order to detect mistrustful behaviour such as unnecessary and excessive access to the cash drawer, refunds and product returns. Proper training must be conducted to employees before being assigned to a POS terminal. Stock counts must be done at stipulated intervals for example on a weekly basis. If there is need, ad hoc cycle stock counts should be initiated to curb shrinkage through employees in the organisation.
Additional Citation InformationJoe, S. (2013). An evaluation of the role of inventory management in enhancing business performance in fast moving consumer goods (FMCG) retail supermarkets: The case of Gutsai Convenience Stores (Unpublished master's thesis). University of Zimbabwe.