Small businesses make up ninety-nine percent of all businesses in the United States, employ more than half of the private sector workforce, and account for over half of annual revenues. Despite the prominence of small businesses, there is a lack of attention in the area of optimizing their processes.
We are studying retail and supply chain management in order to understand how we can improve these processes for small businesses. We hope to better understand: the characteristics of a successful inventory management system for small businesses; whether the implementation of an integrated retail and inventory management system reduce excess inventory, increase profits, and reduce costs; how an inventory system be made affordable for small businesses; and what combination of hardware and software applications will maximize efficiency in inventory and retail systems for small businesses in a cost-effective manner.
Utilizing product design and case study methodologies, we will create a program that will facilitate retail management for small business owners so that they can better compete with larger chain stores. We anticipate that our product will increase productivity and profits in the small businesses we will use for our case studies.
If you have any more questions or concerns, please feel free to contact the team at info@sbsmaryland.com!
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