Since inthe last class we were taught about what is really important regarding inventory management is to manage it I was looking for a management way that I may like, so I found IKEA’s way:
Ikea has 298 stores in 37 countries and each one of these stores has a 9.500 products holding capacity. So how does Ikea manage its inventory? These are the main strategies that IKEA follows:
COST-PER-TOUCH INVENTORY TACTIC
This strategy consists in h
MIN/MAX INVENTORY REPLENISHMENT SYSTEM
As an in-store logistics, IKEA uses this inventory management process to respond to store-level inventory reorder points and reorder products. The rules of this system are:
The system responds to reorder points within the inventory, setting accurate reordering triggers for the minimum products available before reordering, as well as the maximum amount of a particular product to be ordered. These are based on business intelligence for inventory and the ongoing analysis of stock performance.