Manage its Inventory And Satisfy Information - Myassignmenthelp.Com

Question: Discuss about the Manage its Inventory And SatisfyInformation. Answer: Supply Chain Management The report gives an overview of supply chain management of Dollarama Manya.Various types of techniques are used by the company to manage its inventory and satisfy its customers. The main aspect of inventory management at Dollarama is that they deliver the goods into a receiving area i.e. warehouse and then they count them. Then the product is moved to different areas in accordance with the demands. Every Dollarama store has different inventory because each and every store has a demand for different items. The one and only drawback of inventory management at Dollarama is that the inventory for one location cannot be accessed by the other store. One of the ways in which Dollarama forecasts its demands is by analyzing the different areas of operation and market demands in respect to those locations. The highest number of Dollarama stores is with Ontario which is 449 in number. As the imported products are expensive therefore, the company also analyses the demand for imported goods in respect to the neighborhoods purchasing behaviors. With the help of this strategy, Dollarama deduces the stores and is able to emphasize more on stocking well known branded items and hence it focus on the demographics of the areas. Dollarama mostly buys its products from importers in a huge bulk to maintain their low price and profit margin. The performance is measured by the sale and demands and how Dollarama is doing at the store levels. A report named as Z report is prepared at the end of sales of each day which includes the total sales of products and then at the end of the month it is calculated with the average sales of the month. Sales are at the peak at the time of holidays and festivals. Therefore, they prepare themselves to boost their sales during holidays so that the customers demands meet with the supply. Along with this, GAAP is calculated to analyses the financial performance and according to that the annual budgets are prepared. Dollarama relies extensively on third party carriers for acquiring goods from their suppliers overseas. Dollarama has one distribution center and 7 warehouses of which 5 are owned by entities under corporations executive chairman Larry Rose which are subject to lease agreements expiring on November, 2024.The newest warehouse costing $67.9 million is situated in Montreal, Quebec covering an area of 500,000sq ft., and this warehouse has increased the storage capacity by 40%. Dollarama have a 24 hour helpline and online portal on their website so that the customers can file their complaints. There is no return or exchange policies therefore it has a negative impact on the customer services provided. Few of the technology adaptations by the company are: 24 hour surveillance cameras, acceptance of all types of payment cards, better hand scanners but still Dollarama has not yet met the technology standards. One technological fact that would help improve both customer service and inventory would be the availability of a software that would help one store access the inventory information about all other stores in that area. With these strategies of inventory management, Dollarama will easily capture the market around the globe. References Dollarama Inc. (2017).Annual Information Form. Retrieved 11 January 2018, from https://www.dollarama.com/wp-content/uploads/2017/04/2017-Annual-Information-Form-vFinal-EN.pdf. Dollarama Inc. (2015).Fourth Quarter MDA. Retrieved 11 January 2018, from https://www.dollarama.com/wp-content/uploads/2015/03/Fourth-Quarter-MDA.pdf.