Implementing an effective inventory management system to scale down deadstock for blue buddha

Abstract

The textile industry is among the biggest and most resource-consuming manufacturing sectors around the world, and it is actually one of those sectors which produce a lot of deadstock and it is one of the biggest reasons for bad inventory management. The central goal of this capstone project is to engineer an inventory management system with the capacity to lower deadstock for textile producers, which consequently increases profitability and eco-friendliness. The outlined solution has various components which operate smoothly and which can easily be employed on different scales or, what is much more relevant. This system will be flexible enough to have a feature that will make it possible for the manufacturers to adjust it using their parameters in the environment where they operate. The system can be configured to employ the newest techniques of inventory management like real-time tracking of data and Just in Time so that manufacturers can get the perfect amount of inventory for achieving their desired level of minimized deadstock as well as for creating their predictions based on which smart decisions can be made.