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In recent years, the change of consumer behaviors causes - the retailers to transform the in store policy of purchase and stock, in order to avoid more inventory and more inventory costs. In this study, we use Jiu Zhen Nan Pastry Corporation (JZN) as the research subject. The store managers send orders to the pastry factory on Monday, Wednesday and Friday. The pastry products then arrive on Thursday, Saturday and Tuesday, respectively. The order volumes are determined by store managers according to their personal experiences and judgements.
This study analyzes the 2017 sale and inventory data for the stores of Jiu Zhen Nan Pastry Corporation as the first step to disclosure the inventory problems, and then following with established model on statistical method and simulation test in the end. The first problem we found is that the short of stocks happen frequently especially for Sundays or holidays. Further, the data of three traditional and popular pastries were analyzed to demonstrate the problems of product shortage and how it was improved through a seven-week store inventory experiment from April to May in 2018. In the end, we proposed a simulation test to refine the inventory policy that generated a fewer stocks with higher revenues.
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