Successful Inventory Management Strategies in the Office Supply Businesses

Some small and medium-sized retail office supply stores (SMROSS) owners lack successful inventory management strategies. SMROSS business owners rely on successful inventory strategies to minimize costs, maintain the correct inventory level, and avoid stockouts. Grounded in the conceptual framework of contingency theory and inventory modeling, the purpose of this qualitative multiple case study was to explore strategies business owners use to manage inventory efficiently. The participants included eight business owners of seven SMROSS in Ontario, Canada, who operated their businesses for more than 5 years and successfully implemented inventory management strategies. Data were analyzed from semistructured interviews and information from participants’ websites following Yin’s five-step process. Four themes emerged: inventory management efficiency, nurturing supply chain partner relationships, using information technology in inventory, and responsiveness to customer demand. A key recommendation is that SMROSS business owners maintain a stock level where storage cost is lowest while maintaining inventory to satisfy demand. The implication for positive social change includes the potential for SMROSS business owners to remain competitive by maintaining customer loyalty by meeting customer demand. By remaining viable, business owners could potentially expand their businesses and create employment opportunities for individuals in the community

Industry 4.0 for SMEs

This open access book explores the concept of Industry 4.0, which presents a considerable challenge for the production and service sectors. While digitization initiatives are usually integrated into the central corporate strategy of larger companies, smaller firms often have problems putting Industry 4.0 paradigms into practice. Small and medium-sized enterprises (SMEs) possess neither the human nor financial resources to systematically investigate the potential and risks of introducing Industry 4.0. Addressing this obstacle, the international team of authors focuses on the development of smart manufacturing concepts, logistics solutions and managerial models specifically for SMEs. Aiming to provide methodological frameworks and pilot solutions for SMEs during their digital transformation, this innovative and timely book will be of great use to scholars researching technology management, digitization and small business, as well as practitioners within manufacturing companies

Industry 4.0 for SMEs

This open access book explores the concept of Industry 4.0, which presents a considerable challenge for the production and service sectors. While digitization initiatives are usually integrated into the central corporate strategy of larger companies, smaller firms often have problems putting Industry 4.0 paradigms into practice. Small and medium-sized enterprises (SMEs) possess neither the human nor financial resources to systematically investigate the potential and risks of introducing Industry 4.0. Addressing this obstacle, the international team of authors focuses on the development of smart manufacturing concepts, logistics solutions and managerial models specifically for SMEs. Aiming to provide methodological frameworks and pilot solutions for SMEs during their digital transformation, this innovative and timely book will be of great use to scholars researching technology management, digitization and small business, as well as practitioners within manufacturing companies