Contingencies
The overall business objective is to provide and facilitate growth in department stores and to reach that goal there are risks associated with it. In order to mitigate and prevent these risks McCormick International Trading Company needs to implement a forecasting analysis for demand management as well as efficient inventory handling. The company puts on a purchase order from their suppliers on a quarter bases, and for that reason the company need to monitor and record its data to forecast accurately and predict the quantity needed. It will also help in avoid storing unsold products for a long period, which is a huge issue in the current inventory management system.
Gaining market shares and growing sales is required to keep
The overall business objective is to provide and facilitate growth in department stores and to reach that goal there are risks associated with it. In order to mitigate and prevent these risks McCormick International Trading Company needs to implement a forecasting analysis for demand management as well as efficient inventory handling. The company puts on a purchase order from their suppliers on a quarter bases, and for that reason the company need to monitor and record its data to forecast accurately and predict the quantity needed. It will also help in avoid storing unsold products for a long period, which is a huge issue in the current inventory management system.
Gaining market shares and growing sales is required to keep