Skip to main content

RELEASING INVENTORY STUCK UP IN GIT TO STORES SHELF

 The need of situation

A reputed brand of Apparels once asked us to analyze and provide solution to cut down its lead time and reduce the size of its GIT at any given point of time as it was eating into its shelf availability of merchandise at front end Stores.

The challenge we faced

The Client was having a vast supply chain network having 6 warehouses, 126 stores, 35 Consignment Selling Agents, 430 EBOs and 500 MBOs leading to inventory turnover of around 40 lakhs in quantity, out of that around 20% were in GIT.

The solution we offered

VGNC gracefully accepted the task. We analyzed and mapped the entire movement cycle of inventory from the requisition of stock at receiving location, till its replenishment from warehouse or other stores. Updating of stock in system was consuming huge lead time on account of various technical and human snags. We streamlined the operations and optimized  the lead time and provided solution of better order management and replenishment system.

The results we achieved in 72 hours

We could manage to bring down the GIT inventory level from 20% to 5%. The Client was quite satisfied to see his stock from roads to Store Shelf ready for sales to its Customers.

Labels:

Comments

Post a Comment

Popular posts from this blog

MYSTERY AUDIT – WHAT IS MYSTERY AUDIT? | BENEFITS OF MYSTERY AUDIT

  Mystery audit- What is Mystery Audit? how to process it ? benefits of mystery audit? etc. are common question about mystery audit, We are used mystery audit to measure the quality of service and actual performance, compliance with regulation, or to gather specific information about products and services. What is Mystery Audit? Mystery audit is used to measure the quality of service or compliance with regulation, or to gather specific information about products and services. The audit yields better results when done by third-party companies as the stores would not be aware of the product/service being evaluated. A mystery Auditor is a paid consumer who is hired to shop in stores and collect data. Think of mystery auditors as “ undercover customers”  sent in to observe, interact, and report on other customers and store employees. Mystery Auditors are typically employed by a third-parties rather than the store or company personnel itself. Benefits of Mystery Audit to ...
Post a Comment
Read more

IMPACT OF GST ON RETAIL INDUSTRY

  How significant will be the Impact of GST on retail sector in India? Goods and Services Act (GST) is considered to be a game changer for the Indian economy. This has been the biggest indirect tax reform which was long awaited and certainly promises to create unilateral platform for all goods and services offered in India. No doubt, there have been apprehensions regarding the impact of GST on various sectors of Indian economy. The case of retail sector is of paramount significance as it not only includes huge volume of transaction but also generates mass employment in both urban and rural sector. As far as the global scenario is concerned, India is the fifth largest preferred retail destination and one of the highest in terms of per capita retail store availability. Whether the exponential growth of retail sector will carry forward in the GST era, is an important discussion across several quarters. Nevertheless, Compound Annual Growth Rate (CAGR) of India is dependent on the vibr...
Post a Comment
Read more

FORENSIC AUDIT | FORENSIC AUDIT FIRMS | REASONS FOR CONDUCTING A FORENSIC AUDIT

  What is Forensic Audit? A forensic audit is an examination and evaluation of an organization’s firm or individual’s financial records to derive evidence that can be used in a court of law or legal proceeding. Forensic auditing is a specialization within the field of accounting, and most large accounting  firms  have a forensic auditing department. In India, A forensic audit, also known as forensic accounting, refers to the application of accounting methods for detection and gathering evidence of frauds, embezzlement, or any other such white-collar crime. It is the application of accounting skills to legal questions. How is different from internal audit? A forensic audit’s steps designed to focus on reconstructing past financial transactions for a specific purpose, such as concerns of fraud, whereas an  internal audit  is typically focused more on compliance and/or the performance of the organization. What are the Reasons for Conducting a Forensic Audit? Forens...
Post a Comment
Read more