Group Assignment: ITEC 640/9041 2 Project ✓ Solved

Group Assignment: ITEC 640/9041 2 Group Assignment 1 Proj

This project proposal presents a plan for implementing an inventory management system within WAKSS Procurement and Logistics, particularly in response to disruptions caused by the COVID-19 pandemic.

The objective is to develop a robust inventory management system that ensures timely and accurate data for production, ultimately aiding healthcare providers and enhancing overall supply chain efficiency.

Introduction

WAKSS Procurement and Logistics is committed to addressing the complexities of supply chain management, especially in the wake of significant disruptions due to the COVID-19 pandemic. The global supply chain has encountered substantial challenges, with heightened demand for medical supplies coupled with trade restrictions and economic shifts. An effective inventory management system is crucial for mitigating these challenges and expediting the delivery of essential items.

Objective

The primary objective of this proposal is to design and implement an advanced inventory management system tailored for healthcare and related industries. This system will not only facilitate better stock management but also enhance data accuracy, ultimately leading to improved customer service and operational efficiency.

Project Definition

This project entails the establishment of an integrated inventory management system aimed at optimizing supply chain processes. Key aspects of this system include tracking inventory levels, managing supplier logistics, and ensuring timely product deliveries. The goal is to enable healthcare facilities to effectively manage their supply needs during crises, thereby enhancing their capacity to respond to demand surges.

Technical Approach

The Agile methodology will be adopted for this project's execution, allowing for flexibility and rapid delivery of functional components. By organizing work into phases, known as sprints, the project can adapt to changing requirements and ensure ongoing stakeholder engagement. Potential risks include limited customer availability during the project phases, which will be addressed through effective planning and communication.

Project Strategy

The implementation will follow the SMART goals framework to ensure that objectives are Specific, Measurable, Achievable, Realistic, and Time-bound. Major focus areas will include:

  • Inventory System: Automating inventory tracking and enhancing visibility of stock levels.
  • Fulfillment Center: Streamlining processes for order handling and increasing operational efficiency.
  • Warehousing: Improving accessibility and reducing lead times through optimized internal workflows.
  • Delivery: Enhancing delivery mechanisms using modern technology and automation.

Software Tools

To aid in project management, a Gantt chart will be utilized for planning and scheduling, while an inventory management application will support real-time data tracking. This combination of tools ensures that the project is effectively monitored and that resource allocation is strategically managed.

Staffing

WAKSS will leverage a team of project management and supply chain experts, along with key stakeholders from various sectors, to ensure a comprehensive approach to the project. If necessary, third-party contractors with specific expertise will be engaged to provide additional insights and support.

Risk Mitigation Strategies

Identifying and addressing risks is paramount for project success. This includes both project-related risks and overarching supply chain design vulnerabilities. Effective communication and flexibility in response to unforeseen challenges are critical mitigation strategies.

Conclusion

The implementation of an advanced inventory management system proposed for WAKSS aims to significantly enhance the organization's ability to navigate supply chain disruptions and fulfill market demands. Addressing the unique challenges posed by COVID-19 will position WAKSS to provide better service to healthcare facilities and support their critical operational needs.

References

  • Chiles, C. R., & Dau, M. T. (2019). An analysis of current supply chain best practices in the retail industry with Wal-Mart and Amazon's case studies. Doctoral dissertation, Massachusetts Institute of Technology.
  • Crick, J. M., & Crick, D. (2020). Coopetition and COVID-19: Collaborative business-to-business marketing strategies in a pandemic crisis. Industrial Marketing Management, 88.
  • Drakeley, P. (2020). Coronavirus series – Inventory management challenges & solutions. EazyStock.
  • Galea-Pace, S. (2021). Why is inventory management in the supply chain critical?
  • Glyn, F. (2020). Five tips to improve supply chain efficiency.
  • Johnson, T. (2020). How the Amazon supply chain strategy works.
  • Kumar, R., & Mishra, R. S. (2020). COVID-19 Global Pandemic: Impact on Management of Supply Chain. International Journal of Emerging Technology and Advanced Engineering, 10(4).
  • Laluyaux, F. (2020). How supply chains can embrace new technologies after COVID-19. World Economic Forum.
  • Shih, W. (2020). Global Supply Chains in a Post-Pandemic World.
  • Premier. (2020). Four ways technology can enhance your supply chain. Harvard Business Review.

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