The retail sector is a vital sector in the economy of any nation since it directly links with the consumer. A retail business involves the activities of selling goods and services directly to ultimate buyers (Kotler &Armstrong, 2012). People who head retail businesses are titled as retailers.
A supermarket is a place that I frequently visit to acquire essential goods and at times luxurious goods. In a supermarket, the buyers have the freedom to acquire the product type of their choice in different quantities. Inventory control refers to the facet of managing a company’s procuring, reordering, shipment, and tracking of goods (Indira, 2018). Due to the bulk of items in a supermarket, an inventory management system is important in maintaining the track of all the goods ordered and recording all the sales made. After a few observations, I noted that every commodity is fitted with a bar code. Once you pay for the commodity acquired, the computer displays every detail of the commodity. The management is able to keep track of all the stock sold and that which is still intact on the shelves.
To sum up, retailing entails provision of goods and services directly to consumers. An inventory management system is essential in retail businesses for efficient management of stock.
Kotler P. and Armstrong G., (2012), “Principles of Marketing”, Pearson Prentice Hall, 14th Edition.
Indira P (2018), “Romancing with Inventory Management”: New Delhi: BlueDimond Publishing Inc.