Research Paper Inventory Management System Of Best Buy And Its Functions In Retail

2141 words - 9 pages

After almost 50 years of operation, Best Buy is the leading retailer of consumer electronics, mobile phones, computers, appliances, televisions, digital imaging, and entertainment products. The company operates online retail and retail stores under the name Best Buy and owns Geek Squad, Magnolia, Five Star, Future Shop and Pacific Sales. The company has two segments. A Domestic segment which is composed of its operations in the United States; and international which is composed of its operations in Canada, Mexico and China. The company has close to 1500 stores worldwide, with 1100 big box and 400 Best Buy mobile stand alone stores. There are a number of information systems that Best Buy relies on heavily for inventory management, distribution, customer fulfillment and customer facing point of sale systems that must all interact together in order for Best Buy, both online and in-store to achieve and maintain its goals for customer satisfaction and sales.
Complex and strategic are words the can be used to describe Best Buy’s most important and in some cases vulnerable inventory management system. As a consumer electronics retailer, all of its systems are designed around the customer. Many of Best Buy’s systems have one goal in common, which is to improve the efficiency of the customer/retail store transaction and long term relationship so that customers continue to return for future purchases. Because Best Buy is considered an Omni-channel retailer, today’s consumer now has the ability to shop when and where they want. As we take a deeper look into Best Buy’s information technology, and the systems that keep it running day to day, we must understand that the company is in a current transition with goals of improving much of these systems to catch up with how greatly consumer shopping patterns have changed with the power of the internet.
In-store there is nothing different that you would expect than any other retail business that transacts with customers. Products in stock, Sales associates scheduled to interact and close sales, and technology in place to allow this to happen. Welcome to the classic world of retail. But in order for this all to go smoothly, stores must have their shelves stocked at all times. RSS (RETEK Store Inventory System) was designed by Retek In the early 2000s, which was then bought out by Oracle, who has since updated and improved the system to be able to work with other Best Buy fulfillment and demand planning systems used by corporate.
Although a bit antiquated, Best Buy’s inventory management system, also known as RSS has a variety of benefits and is used to measure product on hands, product information, cycle counts, truck shipping and receiving and many other inventory related functions and gives management the ability to create store to store transfers and inventory adjustments to correct on-hand inventory, while monitoring rate of sale and ensuring correct on-hands. The store’s Sales Support Manager is responsible...

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