Write the Report on Research Proposal for TAJ NZ Limited.
TAJ NZ limited is a retail company which is engaged in the making of home making goods such as electronics, appliances and the furniture and the online stores. The company is also involved in the financial activities. The company is a limited liability company and here the liability is limited to the number of shares held by the members of the company. The company is involved in the online shopping which is the ongoing trend. The retail company intends to reduce the cost incurred and improve the satisfaction level of the consumers. The company is in the phase of the competition and is at growing stage (Ciarocco, 2016).
Description of the Problem:
The research is conducted on the system of the inventory management. The growth and the profitability of the company can be enhanced through the inventory system. The company needs to improve the satisfaction of the consumers and the investigation should be done in the research area of the inventory system. The role of the inventory management in improving the growth and the profitability of the company (Elliott & Higgins, 2012). The company has been experiencing delay in the delivery of the stocks of goods and the unavailability of the stocks. The profitability, growth and the sales of the company is highly affected by this factor.
Scope of the Problem:
The ultimate target of the research lies in investigating the performance of the management system, since it is responsible in the growth and development both of TAJ NZ Ltd. The inventory level management is facing difficulties in stores. The reason behind it is researchers would solve the problems and also the problem of the inventory management. The capabilities of the inventory management would be obtained in terms of present day business requirements. The conclusion of this research is it would conclude the problems and their ultimate solution.
The organization is experiencing rapid increase in the complaints by the customers in terms of the stocks availability in the stores. Consequently it causes delay in the online order of the customers. This concern is significant for the organization in order to maintain the productivity and customer satisfaction as well. The incompatibility in the inventory and communication between the online consumers is not fruitful to the organization if the prompt resolution is not obtained. Investigating the customer complaints would be a correct approach in improving the online consumer support. Therefore through these approaches we can aid in competitive advantage for the company.
Preliminary Literature Review
There are illogical and incompatible issues related to the company in inventory management .The IT software such as the MYOB and CIN7 monitors the company's merchandise and other operations. The recorded inventory does not match the match with the physical inventory which lies within the store. These inconsistencies are due to the inappropriate inventory records or the stocks which are misplaced within the stores. Even when inventory records are accurate, location of the articles can be difficult within the store and can be misplaced within the wrong locations. Improper transaction update by the employee of the company also disrupts the inventory management. Delay in online order of the customer can also increase the complaints. It is significant to look into the customer complaints as it would otherwise result in damaging the company's reputation. The ultimate target of the company is to improve the overall customer's view towards the company which should be honest and loyal.
Proposed Methods of Research:
In order to complete the research proposal the informations and the ideas collected is comprised of the section of the method of research proposal. The data has been collected using the qualitative as well as the qualitative methods. Interviews are the method of direct observation has been used in the qualitative analysis and in the quantitative analysis, secondary research has formed the major part and which include the survey by either visiting the data published by the institute or by accessing the online data available. The data have been collected are both the primary and the secondary. In order to produce the reliable results, ethical culture and the brief literature are also considered (Saunders & Lewis, 2014).
The person involve in solving the problems have been identified with the research conducted using the primary and the secondary data. The members of team conducting the research and the team leader Narushka is being held responsible for the presentation of the reports of the research successfully. The other two team members who are identified to solve the problems are Tajinder singh and Saurabh walia and this is because of the past experience possessed by them. The meeting notes of the research conducted every day and the associated outcome would be shared by him and tajinder singh would be responsible to share with all the other team members.
Responsibility for Implementation:
The data in the research proposal would be searched using the different terms such as:
- Managing the operations by inventory management
- Management of the inventory is done suing the different software and the retail business operations
- Limitations of the software used in the management of the inventory
- Benefits of the inventory management software
Conclusion and Recommendation:
The main issue of the company is the discrepancies in the inventory and the way it is being managed and the discrepancy arises on account of the recording and the actual location of the inventory. The merchandising functions of the company are getting affected by the inaccurate recording and handling of the inventory system. The disparity in the recording of the inventory might be attributed to the manual errors in the recording of the inventories. The transaction of the company regarding the inflow and the outflow of the inventory is not checked properly, therefore the transactions need to be updated and the communication technologies need to be improved.
Implementation, Plan and Responsibilities:
The company needs to improve the system due to the arising discrepancies from the inventory and it needs to enhance the communication system to provide the platform to the consumers to communicate the complain. The service provided online could be improved if the real time information to the consumers is implemented. This would enable to them to monitor the inventory as this would lower the number of complaint filed by the customers. When the customer is accessing the information using the online platform, the customers would have much better experience (Rofieq et al., 2012).
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