Management of merchandise for festival marketing: For short lifecycle products

Abstract

Supply chain management is management of interconnected businesses to deliver goods and services to the customer. The industry is now looking at efficient supply chain network because of increase in competition and reduction in profit margins. To have a sound supply chain system, all the members of the network should have a consistent inventory policy. However the major challenge is coordination of inventory policies between different players like suppliers, manufacturers and distributors. Different player in supply chain network has different inventory policy depending upon the industry in which they operate. Thus owing to this challenge, inventory management becomes a major challenge for many firms. Our objective is to develop an approach to manage inventory decision for festive marketing. The approach will consist of: 1) Literature review regarding why firms hold inventory. 2) Challenges faced in Festive Marketing. 3) Factors to be considered while managing products with short lifecycle. 4) Development of simulation modeling. 5) Testing the factors and model on sample data.