Interoffice Memo

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Memo TO: FROM: DATE: SUBJECT: Problem The business operates in a cutthroat industry, and its success will depend on how well it utilizes new technologies to ensure better results. Inventory tracking technology is therefore vital and should be included in the organization so that it can remain afloat, and marketable. Traditional retail capabilities of using papers are outdated and new forms of operation using technological innovations like software tools in tracking inventory will ensure better inventory assortment, track pricing and manage orders. The software tool will increase client satisfaction while promoting loyalty through enhanced experiences when shopping. On the management level, the new product will improve decision making, planning, inventory tracking, customer service, stocking, marketing decisions, pricing, and forecasting. Potential Solutions To ensure better results the organization will purchase products that will aid in their inventory tracking capabilities, and the three vital tools include: Electronic Data Interchange (EDI) Universal Product Code (UPC) Virtual shelves Criteria A good system should track inventory through the supply chain process, from production, warehousing, shipping to the retail store. This will ensure better management decisions on the products to purchase and stock. The characteristics required for the best tool include: A flexible and scalable system that will grow with the sales in the business. A system with real-time customer support will be vital as inventory issues will be sorted on a timely basis. A system that will engage retailers in the tracking process, while giving them information on their order

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