Enhancement of the Inventory Management Process for Premium Products

Many premium segment companies have serious problems with effectively building business processes, which should help it to be flexible, optimize its costs, be able to quickly respond to changing customer needs, and also provide a high level of service. The problem of complexity of inventory management under consideration has always caused many problems. Also, the amount of funds immobilized in stocks for the premium segment category is significantly higher than in most industries, and even a slight improvement in the inventory management system will entail significant benefits. All of the above emphasizes that the problem of improving the inventory management system in the premium segment is relevant. The aim of WRC is to develop improvements for the company's inventory management system, optimize the company's business processes, optimize the time spent on tasks, improve the system of managing relationships with suppliers and customers, and review the company's logistics strategy. In accordance with the stated purpose, the following tasks were performed: analysis of the company; analysis of theoretical aspects and methodologies for improving the inventory management system for premium segment companies; development of an inventory management algorithm for the Russian branch of the company; development of solutions to improve the company's business processes; application of the developed initiatives and assessment of their impact on the financial performance of the company. The main results of the work were: developed procedures for improving such business processes of the Russian branch of the company as financial management, relationship management with suppliers and customers, inventory management; The company's new logistics strategy, critical success factors have been introduced. Also, based on the results of the changes, the economic efficiency of the proposed changes was analyzed and the Dupont model was built.