UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 9 Issue 9
September-2022
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2209340


Registration ID:
502714

Page Number

d336-d361

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Title

INVENTORY MANAGEMENT IN RETAIL SECTOR: A REVIEW

Abstract

The retail sector is among the largest sectors in the world, considering how every single business opportunity requires retailing for their goods or services. Retailers have to constantly engage in multiple operations like warehousing, transportation, shipping costs, minimising costs, maximising profits, time management etc. Retail with n number of SKUs makes it a sector with a vast inventory, which makes inventory management a serious concern for the business. This paper conducts a systematic literature review on inventory control, supply chain management, order management, and warehousing in the retail sector. Essentially all service and manufacturing companies, especially the retail industry, balance inventory strategies that not only stock materials to meet customer demand, but also limit the amount of warehouse space used to meet them. Specific aspects of inventory management were explored in more detail and how they relate to the financial health of any business, covering topics such as supply chain, human resources and more. Effective inventory management is crucial for any retail organization as they have to manage the products effectively according to the supply and demand in the market. Failing may result in heavy losses to the organization on the account of spoilage, loss in customers and high inventory costs etc. This paper aims at giving a review on publications from the year 1998 to 2022 and summarizes to find the areas where future research can take place.

Key Words

Operations Research, Literature Review, Retailing, Inventory, management, Retail Sector, Supply Chain, Pricing, Optimality.

Cite This Article

"INVENTORY MANAGEMENT IN RETAIL SECTOR: A REVIEW", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 9, page no.d336-d361, September-2022, Available :http://www.jetir.org/papers/JETIR2209340.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"INVENTORY MANAGEMENT IN RETAIL SECTOR: A REVIEW", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 9, page no. ppd336-d361, September-2022, Available at : http://www.jetir.org/papers/JETIR2209340.pdf

Publication Details

Published Paper ID: JETIR2209340
Registration ID: 502714
Published In: Volume 9 | Issue 9 | Year September-2022
DOI (Digital Object Identifier):
Page No: d336-d361
Country: Mumbai, Maharashtra, India .
Area: Management
ISSN Number: 2349-5162
Publisher: IJ Publication


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