M01 - Writing Assignment - Data Creation

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Ivy Tech Community College, Indianapolis *

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Course

109

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Business

Date

Apr 3, 2024

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docx

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2

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Brooke Akers INFM109 - 11P January 20, 2024 1 How do big companies like Walmart or Target keep track of their inventory and products? Product Managers. Product Managers are responsible for keeping track of how products are moving on and off the shelves, tending to customers’ needs and feedback, and even how the product(s) looks that day. When customers are in the store and walk past the end of an aisle, called an end cap, usually the Product Managers are the ones who decide what is displayed there for the day or week. Now, imagine if we didn’t have these Product Managers to maintain products and keep track of what goes in and out. What would these big companies do without this role? How would they monitor products to know what to keep and what to drop? There are several different options to track said products. For example, when the customer scans their items in self-checkout or goes to a cashier, the barcode would be a great way to incorporate inventory. Based on how well a product sells, then whoever makes the business decisions can determine if said product stays or goes. Companies want to make sure to always keep popular or high selling items on the shelves for better movement. Speaking of better movement, time of year and Holidays have a big impact on inventory decisions. Christmas time is a great example, companies will stock up on their Christmas items as they are exclusive to that Holiday. According to an article by Melanie Chan (2017), “ Holidays such as Christmas, Easter and Thanksgiving are big drivers of seasonal inventory in America. This means that supermarkets, for example, will see an increased demand during these times for specific products, especially items such as turkey, Christmas decorations and Easter eggs” (Chan, 2017). Other than turkeys and Christmas decorations, candy and clothes are another big item that sell fairly well. But these companies need to make sure that there isn’t an over- stocking issue because this is when Walmart and Target will put them on sale to clear out room for the next Holiday.
Brooke Akers INFM109 - 11P January 20, 2024 2 But, depending on the location of these stores such as Walmart or Target, the area can determine what products or items they carry. There is a Walmart on Pendleton Pike and German Church, this is a good example of a bad area. The area can determine what products the store carries because it can be prone to stealing, so it is better to be safe than sorry. Whoever makes the business decisions at this location can decide that is it a good idea if they cut their electronic, games, and the entertainment selection in half due to the high percentage of stolen items. References Chan, M. (2017, October 6). The Effect of Seasonal Inventory on Inventory Control. Unleashed. https://www.unleashedsoftware.com/blog/problem-seasonal-inventory-control
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