Demand and Supply Planning in Retail Operations
International Journal of Business and Economics Research
Volume 3, Issue 6-1, December 2014, Pages: 51-56
Received: Sep. 29, 2014; Accepted: Oct. 5, 2014; Published: Dec. 11, 2014
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Authors
Ferdoush Saleheen, School of Quantitative Sciences, Universiti Utara Malaysia (UUM), Kedah, Malaysia
Md. Mamun Habib, School of Quantitative Sciences, Universiti Utara Malaysia (UUM), Kedah, Malaysia
Bishwajit Banik Pathik, Dept. of Electrical and Electronic Engineering, American International University-Bangladesh (AIUB), Bangladesh
Zurina Hanafi, School of Quantitative Sciences, Universiti Utara Malaysia (UUM), Kedah, Malaysia
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Abstract
The research represents a comprehensive study of retail operation. The paper elaborates a broad perspective of a demand and supply chain which interacts with macro and micro environmental factors and translates it into a customer requirement. The authors describe on different techniques and tools on demand and supply planning which leads to an optimized level of inventory, less cash outflow, higher product varieties and a greater customer satisfaction. Eventually fulfilling all these ensures increase in sales and profits to stakeholders; an ultimate objective of a firm. This paper demonstrates a holistic view on how a firm’s supply chain operates as a whole. In addition, this study also highlights some retail examples in the US as well as in Bangladesh which unlock further frontiers for the practitioners and prospective researchers to replenish their practices as well as expertise in the retail industry respectively.
Keywords
Vendor Managed Inventory (VMI), Electronic Data Interchange (EDI), Collaborative Planning, Forecasting and Replenishment (CPFR), Enterprise Resource Planning (ERP), Supply Chain, Demand & Supply
To cite this article
Ferdoush Saleheen, Md. Mamun Habib, Bishwajit Banik Pathik, Zurina Hanafi, Demand and Supply Planning in Retail Operations, International Journal of Business and Economics Research. Special Issue: Supply Chain Management: Its Theory and Applications. Vol. 3, No. 6-1, 2014, pp. 51-56. doi: 10.11648/j.ijber.s.2014030601.18
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