Revamping Strategic Objectives & Process Optimization at Okay Ventures LLC

Abstract

Okay Ventures LLC is an online retailer that sells and fulfills inventory management through Amazon.com. The firms currently fully operates within the U.S. Moreover, the partial operations are available in regions of Canada, and Mexico for market testing purpose. The firm faces certain issues regarding their strategic objectives, and operational processes. The project in particular examines the strategic objectives including expansion to neighboring markets such as Canada, and Mexico. Moreover, the project examines inventory information through trend analysis. This analysis is based on stringent inventory management techniques such as inventory weighted averages, and ABC analysis based on sales. Moreover, the forecasting techniques have been found to have multifaceted effects on the organisational performance of the firm. Nevertheless, this project has examined both primary and secondary sources of information to collect data; and derive effective courses of action for future. The following have been analysed from this project. Okay Ventures forecasts inventory based on judgement based approach. Although the approach is effective, but generalizing product variety contribution to respective product categories does not prove effective. However, the project has examined respective product category contribution to overall sales through ABC analysis. This analysis examined that 30% of the products allocate 68.76% to the firm’s total revenue. Moreover, economic batch quantity inventory model has been implemented to identify optimal quantity of orders, and re-ordering point. These figures are crucial for the firm considering the existence of bull whip effect and conservative ordering. These concepts lead to high product demand fluctuations. Another reason of fluctuations is lead time variability. Therefore, implementing the stringent inventory management techniques in conformity to strategic change practices can allow Okay Ventures to revamp their strategic objectives, and operational processes.