A study on the inventory management of perishable products

Abstract

The project examines the vital role of inventory management in balancing customer demand and inventory availability to optimize business operations. Analysis of user demographics and responses about perishable products provides insight into consumer behaviour and purchasing decisions. The study highlights the need for effective communication, real time inventory monitoring and demand forecasting to increase customer satisfaction and reduce inventory. Key inventory management techniques such as Just-in-time (JIT), economic order quantity (EOQ) and ABC analysis are highlighted for operational efficiency along with advanced technologies such as automation and Radio Frequency Identification (RFID) for real time visibility and warehouse operations optimized supply chain. Strategic recommendations are provided to retailers, emphasizing the diversification of product ranges and the refinement of inventory processes to better align with market dynamics. By applying these insights and recommendations, retailers can effectively manage the availability of perishable products, ensuring long term success and customer loyalty in the dynamic retail industry.