From Chaos to Control: Designing an Inventory Management System
This case study explains how this Inventory Management solution helps to maintain optimal stock levels, prevent stockouts, and curtail excess inventory.
Scenario
A thriving retail sales company faces mounting challenges in managing its expanding product inventory. The current system struggles to provide real-time updates, leading to occasional stockouts and inefficient restocking.
Now, they need a new ERP solution. This system must seamlessly integrate with their sales platform, offering automated stock tracking, precise forecasting, and customisable role permissions for team members.
The goal -“solulu”
The goal of this new solution is to curb stock discrepancies, enhance inventory accuracy, and ensure timely order fulfilment, ultimately improving customer satisfaction and operational efficiency.
I didn't work on this alone.
On this project, I worked with a project manager and a business analyst. They provided guidance and a list of business requirements that was really helpful to start designing the project.
Business requirements were not enough so I wrote user stories to design with empathy.
I wrote user stories to design with empathy.
I hit a creative block or lack of motivation while working on this design and I turned to User Stories. 🤧 I needed to see the POV of the users, and since I am most motivated when I believe in the problem I’m working on, this was the pick-me-up I needed to continue.
Key features
- Real-Time Tracking
- Reorder Point Alerts
- Inventory Analytics
- Multi-Location Management
- Safety Stock Management
Real-Time Tracking
Provides real-time updates on inventory levels, enabling quick decision-making based on accurate information.
Reorder Point Alerts
Notifies managers when inventory reaches a predetermined minimum level, triggering timely reordering to prevent stockouts.
Inventory Analytics
Offers insightful reports and analytics on inventory turnover, lead times, and usage patterns, aiding in strategic decision-making.
Multi-Location Management
Supports the management of inventory across multiple warehouses or stores, ensuring efficient distribution.
Safety Stock Management
Supports the calculation and management of safety stock to mitigate the risk of stockouts.
Conclusion
By enhancing the efficiency of inventory management processes, providing valuable insights, and enabling proactive decision-making, the design of this solution minimises the occurrence of stockouts, ensuring that adequate inventory levels are maintained to meet demand and customer expectations.
