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TRL3707 ASSIGNMENT 2 ANSWERS (SEMESTER 2) 2023 85%+
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- University Of South Africa (Unisa)
TRL3707 ASSIGNMENT 2 ANSWERS (SEMESTER 2) 2023 85%+
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1.1 Inventory management plays a critical role in planning and mitigating uncertainties ingrocery retail shops. It involves balancing the cost of holding inventory against the risk of
stockouts and lost sales. Effective inventory management can help retailers to maintain optimal
stock levels, reduce holding costs, and improve customer service levels. In the case study, local
supply-chain service providers are scaling their operational capacities to reduced income and
relying on dwindling cash reserves, while simultaneously increasing stock levels in preparation
for future supply constraints. This highlights the importance of inventory management in
ensuring that retailers have enough stock to meet demand while also managing costs.
1.2 The customer service level strategy that grocery retail shops should follow is to ensure that
consumers receive the right products at the right time, at the right place, and in the right
condition. To achieve this, retailers need to have a comprehensive understanding of their
customers' needs and preferences, as well as their buying patterns. In the case study, supply-
chain service providers are diversifying their sources of supply and strengthening their capacity
in essential-services sectors such as food manufacturing and distribution and pharmaceuticals.
This is an example of how retailers can adjust their customer service level strategy to ensure that
they have access to a range of suppliers who can meet their needs in times of crisis.
1.3 Holding inventory carries several risks for grocery retail shops, including the risk of
obsolescence, damage, and theft. Obsolescence refers to the risk that products may become
outdated or lose their value over time, leading to inventory write-offs and lost profits. Damage
and theft can also result in lost profits and increased holding costs. In the case study, supply-
chain service providers are rotating staff where possible, operating with a skeleton complement
for essential-services clients, and upholding strict safety and preventive measures. This
highlights the importance of managing the risks associated with holding inventory, such as the
risk of theft and damage.
1.4 Forecasting is critical in achieving timely results within grocery retail shops. It involves
predicting future demand for products and services, which can help retailers to plan their
inventory levels, staffing needs, and marketing activities. In the case study, local supply-chain
service providers are diversifying their sources of supply, which is an example of how
forecasting can help retailers to anticipate changes in demand and adjust their operations
accordingly. Another example is Bidvest International Logistics (BIL), which is increasingly
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