Assignment Task: On graduation from Heriot-Watt you take up a new role as the Inventory Manager for PetEssentials Ltd., a pet product wholesaler selling to retailers throughout UAE.
With one warehouse based in Dubai your job is to devise an inventory management and control policy for the domestic product range. In total there are 235 products (mostly for cats and dogs) which are sourced from 13 different vendors.
The assignment is divided into 3 parts as follows -
Part A: Inventory Analysis and Segmentation
Using the data provided on VISION: petEssentials data 2020.xls.
Warehouse shipments (in units per month) for 235 pet products and other useful data.
1. Carry out ABC Analysis by 'dollar-usage' (based on unit cost value)
2. Carry out multi-criteria ABC analysis by 'product profit contribution' and 'vendor (supplier) profit contribution'.
3. Make sure you adhere as close as possible to the 20:30:50 split in % of products and % of Vendors per segment.
4. Plot the Pareto curves (scatter charts) and present the segmentation results in tables, e.g. for your multi-criteria results the table should be structured something like this (see attached file).
Part B: Sales Forecasting
Using appropriate statistical (projective) forecasting method/s and the data provided in petEssentials data.xls., produce a forecast of sales for each product for the next 12 months.
The forecast of sales you produce for each individual product will be essential to complete Part C of this assignment.
Is there any pattern in the historic data?
- Use descriptive statistics and data visualization to see if there are any patterns in the data.
- Are you expecting any patterns in the sales of pet products?
Then select an appropriate forecasting method and PROJECT a forecast over the next 12 months.
- Calculate the total expected (forecast) sales per product, per segment (as you defined in Part A) and overall.
Part C: Inventory Policy Modelling and Final Recommendations
Design and evaluate a segmented inventory management strategy for petEssentials.
1. Using appropriate inventory control models and parameters and using your SKU level forecasts (produced in Part B) evaluate the impact of different inventory policies on key inventory performance metrics. A comparative analysis would be useful. Keep in mind the conversations you have had with the Finance Director and Procurement Manager.
2. Based on your findings, and clearly presenting any expected cost savings, make final recommendations to the petEssentials Board.
Compile your results from Parts A, B and C into a coherent and professional final report that you would be proud to present to your new employer.
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Attachment:- Demand and Inventory Planning.rar