Scenario: In Week 3, you selected a product or service that you believe your organization should invest capital resources to develop the product or service for sale. To speed up the new product investment, you decide to write a memo proposing and advocating for the launch of a new product or service to the company president. Create a memo proposal using the AIDA model in a Microsoft® Word in a minimum of 1,400 words. You will add an introduction and conclusion, and your paper will include the following components:Convince your audience to invest capital resources to develop the product or service you intend to sell and explain your rationale. (See Persuasive Message Using AIDA model.)Gain credibility (for yourself and your request) and (2) to make your readers believe that helping your product/service will indeed benefit the company. Close with a request for some specific action, and make that course of action as easy to follow as possible to maximize the chances of a positive response.Include secondary research to support your argument, related to your product and/or service.Explain what you will do in case the selected product or service does not initially sell as much as expected.Indicate potential digital channels for marketing your product or service.Consider cross-cultural and multinational implications.Note: Main points from this memo will be included in the Week 5 Persuasive Presentation. The following guidelines will help you effectively format specific memo elements, Business Communication Essentials, 7/e (Pg. 410):Addressees. When sending a memo to a long list of people, include the notation See distribution list or See below in the position at the top; then list the names at the end of the memo. Arrange this list alphabetically, except when high-ranking officials deserve more prominent placement. You can also address memos to groups of people–All Sales Representatives, Production Group, New Product Team.Courtesy titles. You need not use courtesy titles anywhere in a memo; first initials and last names, first names, or even initials alone are often sufficient. However, use a courtesy title if you would use one in a face-to-face encounter with the person.Subject line. The subject line of a memo helps busy colleagues quickly find out what your memo is about, so take care to make it concise and compelling.Body. Start the body of the memo on the second or third line below the heading. Like the body of a letter, it’s usually single-spaced with blank lines between paragraphs. Indenting paragraphs is optional. Handle lists, important passages, and subheadings as you do in letters.Writer’s initials. Unlike a letter, a memo doesn’t require a complimentary close or a signature, because your name is already prominent at the top. However, you may initial the memo–either beside the name appearing at the top of the memo or at the bottom of the memo.Format consistent with APA guidelines.Attached is PART I which will be needed for this assignment.
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Running head: INVENTORY MANAGEMENT
A Proposal on Optimization of Walmarts Inventory Using RFID Technology
University of Phoenix
April 2, 2018
A Proposal on Optimization of Walmarts Inventory Using RFID Technology
Inventory management helps determine the right amount of stock that should be held at
any given moment. Stocking the right amount is vital. When the business gets under-stocked,
customers will most probably start looking somewhere else and get poached in the process. On
the other hand, when too much has been ordered, there is a chance that the business will get
stuck with excess stock that may become obsolete. By definition, inventory is the list of raw
materials, processes-in-progress, and finished products considered as a part of a businesss assets
that are either ready or will be ready for sale (Nemtajela & Mbohwa, 2017). Inventory
management involves the control of activities and products as they move from one point to the
other within a business or when they are changed from one form to another as they are processed
from the raw material so that they can be offered to customers as finished products
Situation and Proposed Remedy
Inventory management is a vital element of the supply chain management and includes
aspects like controlling the ordering of inventory, storage of inventory, and controlling the
amount of inventory of inventory to be sold. The current inventory system for Walmart is based
on a supply chain system that is not only costly but also time-consuming, labor-intensive, and
error-prone. There is need to optimize Walmart’s inventory system by bringing in a leaner and
faster technology-based supply chain system.
This proposal document provides a recommendation for a way of improving the
operations of Walmart by enhancing its inventory management through the use of Radio
Frequency Identification (RFID) technology to optimize its supply chain processes.
The need to Enhance Walmarts Inventory System
Over the past decade, Walmart has steadily grown to be the world’s largest retailer in
terms of inventory turnover, highest sales per square foot, and operating profit. The success of
the company depends largely on the effectiveness of its supply chain and inventory management.
This responsibility is vested in the Procurement Department of Walmart. As a department, their
job is to track stock within Walmart’s stores so as to ensure that sold out stock is immediately
restocked. Aside from that, the department carries out future predictions of demand of certain
products in different seasons by use of data collected in the past.
Advantages of RFID Technology in Inventory Management Systems over Convectional Systems
A great way to achieve stock optimization will be by implementing, where possible, the
RFID technology at the points of movement of goods and products. RFID technology uses
magnetic waves to uniquely identify an object (“RFID Stock Control, Item Level, Inventory
Tracking, Supply Chain Management – RAMP”, 2018). This technology will allow Walmart to
perform tasks that are currently too intensive and time-consuming as well as speed up decisionmaking processes. By using RFID technology, the procurement department will be able to trach
the location and level of most of the products at all the stages of the supply chain in real time.
By using RFID technology, the following components of the inventory will be enhanced
hence allowing optimization.
Tracking of the number of items the technology will allow the
automation of receiving, picking, ordering of goods.
Data collection Data will be collected automatically regarding the
movement of goods which will improve accuracy and stock management.
Warehouse processes Since accurate data will be collected in real time,
decision-making and operations will be streamlined (“RFID Stock Control, Item Level,
Inventory Tracking, Supply Chain Management – RAMP”, 2018).
The Proposals Audience and its Impacts
This proposal will be addressed to the procurement department of Walmart. Having
worked in the department, I have witnessed first-hand the hardship encountered when tracking
down goods. Hence, the director in charge of the procurement department will consider my
recommendations based on the fact that they come from a person who has worked in the
department and its challenges first-hand. A lot of time and energy is spent going through the list
of thousands of different products. Much critically, goods run out on the shelves for weeks
without the knowledge of the procurement department which poses the risk of losing customers
(Nemtajela & Mbohwa, 2017). Aside from that, the procurement department sometimes purchase
excessive goods in some instance which ends up expiring or going obsolete. This further
compounds the companys loses.
Apart from serving the procurement department director with the proposal, it will also be
important to inform the whole department’s employees of the proposed changes. This is
important because employees, as human resource, remains the most valued asset of any company
and should be informed and where possible consulted regarding most of the decisions within a
company. The best way to inform employees of this proposal would be through a menu to all the
offices within the department. Apart from that, they could also be informed via e-mail. These
channels are most preferred because they will be quick in dispersing the information.
Implementation of this technology will have both immediate and long-term impacts. To
begin with, quite a considerable number of current employees will lose their jobs as much of the
work that has been done manually will be adopted by the system. More importantly, however,
data for the inventory will be collected much faster and automatically. Aside from that, the data
will be acted upon automatically by the system which will ensure optimization of the inventory.
Good inventory management helps determine the right amount of stock required at any
given moment. Walmart’s current inventory is based on a supply chain that is costly, timeconsuming, labor-intensive, and error-prone. RFID technology will help optimize the inventory
by streamlining the supply chain of Walmart. This is due to its advanced product tracking and
data collecting capabilities. This proposal will not only be served to the Director of the
Procurement Department but also all employees in the department.
RFID Stock Control, Item Level, Inventory Tracking, Supply Chain Management – RAMP.
(2018). Ramprfid.com. Retrieved 30 March 2018, from https://www.ramprfid.com/rfidsolutions/rfid-inventory-tracking/
Nemtajela, N., & Mbohwa, C. (2017). The relationship between inventory management and
uncertain demand for fast-moving consumer goods organizations. Procedia
Manufacturing, 8, 699-706. https://ac.els-cdn.com/S2351978917300963/1-s2.0S2351978917300963-main.pdf?_tid=8d4fb734-d1e2-48a2-9cb3418e554305a2&acdnat=1522444936_6776e0e5bb4921fdcdd0220e0be426d8
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