IMPACT OF DEVELOPMENTS WORK FOR INVENTORY MANAGEMENT OF PERISHABLE ITEMS IN RETAILING AND SUPERMARKETS

Abstract

Purpose-Inventoiy management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. This process usually involves controlling the transfer in of units in oidei to pievent the inventory from becoming too high, or dwindling to levels that could put the opeiation of the company into jeopardy. Competent inventory management also seeks to control the costs associated with the inventory, both from the perspective of the total value of the goods included and the tax burden generated by the cumulative value of the inventory. Methodology/sainple- The data collection method used was a questionnaire and the technique used was face-to face interview. The study focuses on finding out whether there is a significant relationship between levels of importance attached to certain perishable products.220 questionnaires were sent to respondents. Findings-The analysis reveals that perishability influences replenishment time rates. The findings on the basis of mean value and standard deviation the interpretation for fruit replenishment time rate is per day to balance demand, vegetables replenishment time rate is per day to balance demand, frozen replenishment time rate is per weekly to balance demand, meat replenishment time rate is per day to balance demand, milk replenishment time rate is per day to balance demand, bakery replenishment time rate is per day to balance demand. Practical Iinplications-The solution to the research problem consist of two parts one is to formulate a demand function which can efficiently manage the inventory of the peiishable items and other is use of demand function to help managers in organized retail to have a better inventory management system. The model so developed and its outputs would be evaluated using the EOQ model