An inventory management system

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Top Value should have an inventory management system that will detect inventory that needs to be replenished. This will go hand in hand with the Just In Time method of sourcing goods. The lead time should be consistent to ensure that the customer is utmost satisfied. This will go a long way in ensuring that the organization’s reputation is maintained. In respect to competitors, Top Value should first ensure that they offer. Still, the best quality of Wheat Thins, then using the right promotional mix-use an effective pricing strategy that will attract more customers. It should also penetrate other markets in different geographical regions and expand its customer base through advertisements. Top Value should also go electronic as the current demands enable customers to order goods and pay for them electronically. This minimizes the visits to the stores where the customers rush to get served, causing damage.

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Top Value should embark on having the right people for the job in the supply chain. Experienced persons in the supply chain will better handle procurement processes effectively. Logistics should be well planned such that the shorter route to the stores is taken to minimize cost. A good-buyer supplier relation will ensure a continued support such that when the goods are out of stock, the buyer will be informed in advance and buy in huge quantities before there is stock out. Top Value should also embark on technological advances such as Artificial Intelligence which eases up on the issue of transportation costsincludes enhanced shipping efficiencies, identifying patterns and plans for predicted customer behavior, more accurate data for supply chain forecasting, faster decision making, and creating more robust and high supply chain efficiency designs

The supply chain is an integral part of the economy. It should be managed effectively to realize the ultimate goal, customer satisfaction, and profit, a maximum win-win situation

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