This project focuses on optimizing inventory tracking and resource allocation in supply chain management. It aims to minimize stockouts and overstocking while ensuring efficient utilization of resources. The objective is to improve operational efficiency, reduce holding costs, and enhance demand forecasting accuracy.
Study inventory management concepts such as EOQ, safety stock, and reorder levels.
Analyze inventory tracking systems used in modern supply chains.
Collect sample data for inventory movement and demand patterns.
Identify issues like stockouts, overstocking, and inefficient resource allocation.
Develop an inventory tracking model using Excel or software tools.
Apply forecasting techniques to predict future demand.
Optimize resource allocation across warehouses and distribution centers.
Compare manual vs automated inventory tracking systems.
Evaluate cost savings and efficiency improvements from optimization.
Provide recommendations for improving inventory control and resource utilization.
