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Zara: Policy for Inventory Sharing Across Stores - Coggle Diagram
Zara: Policy for Inventory Sharing Across Stores
DETAILS
Zara has stores across the world and there would be stores that have higher sales on specific items and others that have lower sales on those items. To ensure loss is minimized across all stores, Zara needs to have an inventory sharing and transfer policy that defines the rules for sharing and transferring inventory so that it is done efficiently. This policy will cover information like who should be authorized to approve a transfer and all the things to consider before giving approval, what each member of the team is responsible for in this process, the design of the request form and so on.
IMPLEMENTATION
Set up an internet access on each store.
Set up a central database in the headquarter.
Building a smaller database on each store location that connect to the central database.
Create a website to import all the products from the database, and allow all the employees to access to view all the products on the website.
Set permissions so only authorized users can approve inventory transfer.
Set up so inventory transfer request form is detailed and all required information is filled to allow for easy analysis and approval.
PURPOSE
Better serve customers
Minimize loss and maximize profits.
Make Items readily available when needed
Better manage inventory
Give access to authorized persons only
WHO IS RESPONSIBLE
The CIO and IT Manager are responsible for the creating the policy and each employee will have a role in the correct implementation of the policy. For example, store managers will be responsible for approving inventory transfer requests and other associates will have different responsibilities such as correctly recording orders and sales so that inventory calculations are accurate.
MEASUREMENT OF SUCCESS OF POLICY
Higher inventory turnover
Decrease in losses from items moved to clearance as a result of low sales.
Improved efficiency or increased inventory related task completion times because there is a defined process to follow.
WHO IT APPLIES TO
Managers
Employees
CEO/President