Nordstrom Essay

755 Words Mar 27th, 2013 4 Pages
Planning a better inventory

Question 1 Nordstrom has famously been known for its lean retail prices and its tight inventory. Nordstrom uses demand forecasting to minimize leftover inventory. Nordstrom’s total corporate management is based on two main goals. One is to associate purchasing with demand to keep inventory as lean as possible. Second is to present customers and sales associates with a wide-ranging view of Nordstrom’s entire inventory, including all stores and warehouses. Nordstrom relates purchasing with demand to keep inventory lean and show customers and employees Nordstrom’s inventory. Nordstrom keeps its items in stock for an extremely short period of time so that if a customer wants it, they only have
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Effective communication can increase the common understanding of ethics and ideas among customers and form a base for relations and future purchases. The happier a customer feels with the company that they are purchasing from, the more often they will go back to that company and purchase more products. Groups that should be involved are all employees within the company, because the more they are involved, the more comfort there will be among the employees and the customers who will buy the product in the near future.
Question 4 Nordstrom has done a lot to their technology department since 2009 to compete with competitors in the online market. If there were ideas that I could suggest for them, I would say that in their search area on the sites, they can still add more functions, such as a rating system where customers can rank the product on how good it is. Companies such as Macy’s and Nike have a customer rating system for clothing, so buyers know which products are being liked and which ones aren’t. Also, in the online inventory, Nordstrom needs to include which products are new, and which ones are old because it is not listed on their site. Companies such as Nike, Banana Republic and Macy’s all have a “new arrival” tab on their website while Nordstrom does not. Those would be the only inventory management overhaul ideas I would recommend to them. As far as stretch goals are concerned, I

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