Successful Inventory Management Strategies in the Office Supply B

Section 1: Foundation of the Study

Owners of small and medium-sized retail office supply stores (SMROSS) have

practiced improper inventory management, causing financial distress. The

implementation of weak inventory strategies by business owners has led to excess

inventory, decreased cash flows, and lower profitability (Gołaś, 2020). Approximately

70% of firms' inventory managers reduced inventories during periods of distress to

improve cash flows and profitability (Steinker et al., 2016). However, some business

owners fail to use inventory management strategies to promote success and sustainability.

I focused on discovering successful SMROSS business owners' inventory management

strategies to optimize performance. As the researcher, I indicated the inventory

management strategies successful business owners used to optimize performance as the

main content of the study.

Background of the Problem

Inventory managers experience supply chain problems, inaccurate forecasting,

overstocking, understocking and the ability to maintain competitiveness (Atnafu & Balda,

2018). Successful business owners and managers aim to optimize performance, manage

inventory, and achieve desired goals (Li & Lim, 2018). The owners of firms experiencing

financial problems can adjust inventory to the level to facilitate cash availability or

important events in the business. Inaccurate demand forecasts can lead to unsold stock

and increasing expenses (Yang, 2016). Maintaining proper inventory records is also

critical because inaccurate records can negatively impact the firm's bottom line. Effective

inventory management significantly affects the performance and sustainability of any

business (Bendig et al., 2018).

Leaders and managers could focus on implementing inventory strategies to

maintain competitive and sustainable enterprises (Karki, 2020). Customer demand is

necessary and is a driving factor in planning between the firm and supplier to ensure the

availability of goods for sale (Kück & Freitag, 2021). Owners and managers should

maintain inventory levels to increase cash flows and growth and ensure business success.

Problem Statement

Inventory mismanagement causes difficulty in satisfying customer demand and

threatens business survival for some business owners of SMROSS (Akan et al., 2021).

Almost 70% of firms experiencing difficulty paying creditors indicated reduced inventory

levels during downturns (Farooq et al., 2020). The general business problem was that

some business owners of SMROSS experience inventory mismanagement, resulting in

lost profits. The specific business problem was that some owners of SMROSS lacked

strategies to manage inventory efficiently.

Purpose Statement

The purpose of this qualitative multiple case study was to explore strategies

successful business owners of SMROSS use to manage inventory efficiently. The target

population was owners of five or more SMROSS located in the Greater Toronto Area

(GTA), Canada, who managed inventories efficiently. The social benefits of this study

are that SMROSS owners may implement inventory management strategies to increase

business sustainability, which could result in employment and the provision of necessary

business and educational supplies for citizens of the local community.

Nature of the Study

A researcher may conduct a study using either a quantitative, qualitative, or mixed

method approach. Qualitative researchers gather exploratory and in-depth information,

and quantitative researchers collect numeric data to predict, test and analyze a

phenomenon (Morse, 2015). The mixed methods approach combines qualitative and

quantitative methods (Molina-Azorin et al., 2017). The quantitative method involves

making deductions and predictions on an event and is not the focus of this study. The

mixed method is not compatible with investigating the strategies of successful SMROSS

business owners because I did not use a quantitative approach, and the focus of my study

was exploratory. I conducted a qualitative study to identify and explore successful

inventory management strategies small business owners develop and deploy successfully.

I used a multiple case study design for my research. Researchers use the case

study design to understand and describe reasons for a social phenomenon, extract in-

depth information, and explore current events and real-life experiences (Yin, 2018).

Narrative design involves researching the personal stories of individuals (Höfler et al.,

2017). Ethnography design is suitable for studying the shared beliefs of groups and

cultures over a period (Aslan, 2017). The phenomenological model is appropriate for

studying the personal meanings of the participants' lived experiences (Yaroslawitz et al.,

2015). My purpose of the study was to explore strategies successful business owners of

SMROSS use to manage inventory efficiently. As a researcher, I used the case study

design to gather descriptive information, analyze in-depth causation, and justify the case

design. The use of narrative, ethnography, and phenomenological designs could not

facilitate an exploratory and in-depth approach and, therefore, unsuitable for exploring

strategies SMROSS used to manage inventory efficiently.

Research Question

What strategies do successful SMROSS business owners use to manage inventory

efficiently?

Interview Questions

1. What inventory management strategies do you use to ensure sufficient, but not

excessive, inventory levels?

2. Which inventory management strategy gives optimal results?

3. How does the organization assess the effectiveness of its inventory management

strategies?

4. What inventory management technology did you use to manage inventory?

5. How do you organize your resources to ensure you purchase the right quantity of

stock?

6. How do you use sales forecasting in combination with your inventory strategies in

combination with your inventory strategies to determine required ordering points

and quantity?

7. What controls did you put in place to monitor inventory inflows and outflows?

8. What are the controllable variables you must consider when dealing with

suppliers to ensure effectiveness of inventory management strategies?

9. Based upon your organization’s experience, how has improving inventory

management influenced inventory management of your business?

10. What other information can you share with me about your organization’s

inventory management strategies?

Conceptual Framework

The conceptual frameworks I used to support this qualitative multiple case study

are the contingency theory and inventory control modeling. Contingency theory includes

the strategy of a control system that fits and will be ideal for helping ensure optimum

performance (Hossein Nezhad Nedaei et al., 2015). Inventory control modeling is the

selection of an inventory system best suited to the organization's or business's

requirements (Svoboda et al., 2020). Prasad (1994) suggested mapping inventory models

by classifying inventory conditions and identifying a suitable model or system based on

the circumstances. Inventory managers can sort through the various classifications to

select the system that aligns with their experience. In 1964, Fielder developed the

contingency theory, which focused on the critical decision of managers. In contingency

theory, Fielder posited that a leader's effectiveness depends on how well the leader's style

matches a specific environment or situation (Debebe, 2017; Fielder, 1964). The tenets of

contingency theory relative to this study are leadership styles, strategies, and

effectiveness of inventory managers when faced with different, often complex situations.

In a crisis, poor management strategies and a lack of financial planning will affect

inventory managers’ effectiveness and competitiveness in the global marketplace

(Karadag, 2018). Houghton and Yoho (2005) discussed how investigators were adapting

the use of contingency theory for relevant and flexible applications. As Riggio (2008)

posited, contingency theory is suitable for applying the most effective leadership style in

urgent situations. I used the contingency theory framework to help me explore and

analyze how different business leaders or managers use inventory management strategies

in business. As a researcher, I have used the study’s results to explain the difference in

the strategy of successful inventory managers versus the strategies used by unsuccessful

managers and owners.

Operational Definitions

Bullwhip effect: The bullwhip effect (BWE) is when the firm inventory manager

maintains some degree of inventory no matter the demand level (Ojha et al., 2019).

Business sustainability: Business sustainability involves environmental,

economic, and social factors impacting the ability to continue (Geerts et al., 2021).

Inventory management strategy: Inventory management strategy is the use of

leadership and management skills in decision making to organize inventory activities in

alignment with external factors to achieve optimal results (Friday et al., 2021).

Lean inventory technique: Lean inventory is a strategy where inventory managers

in small business increase profits and eliminate waste while maintaining only the level of

inventory that is necessary (Kroes et al., 2018).

SMROSS: SMROSS is an acronym for small to medium-sized retail office supply

stores. Small and medium sized enterprises are critical to the growth of economies

worldwide (Ndiaye et al., 2018).

Sharing Strategy: Sharing strategy is a tool inventory managers can use to reduce

inventory costs by offering inventory to other business managers to sell to their

customers (Tathan et al., 2017)

Assumptions, Limitations, and Delimitations

Assumptions

Assumptions are factors accepted as true without evidence to support them (Lips-

Wiersma & Mills, 2014). The primary assumption was that SMROSS business owners

would participate and respond accurately about operating and maintaining sustainable

enterprises. I have made assumptions about information regarding the number of

employees to qualify as a small and medium-sized businesses (SME). I also assumed that

participants’ responses were truthful.

Limitations

Limitations are factors the researcher cannot control in the study (Yin, 2018). The

results may not be generalizable to all industries because the focus of the study was on

firms in the office supply business in a single geographic location, and the results may

not apply to more business types. Another limitation is the study of small to medium-

sized office supply businesses versus more prominent firms.

Delimitations

Delimitations are the factors I have used to define the scope and boundaries of the

study. Researchers can limit or narrow the study's scope and list what not to include

(Leedy et al., 2019). This study involves SMROSS business owners who maintained

sustainable businesses and did not include other employees in the business. The location

of the SMROSS participants was in the GTA.

Significance of the Study

I conducted this study to gather and analyze information about inventory

management strategies SMROSS owners in the GTA use to remain successful.

Mismanagement of inventory may increase adverse outcomes such as insolvency,

bankruptcy, foreclosure, and interruption, affecting the continuity of SMEs (Filho et al.,

2017). SMROSS owners could use study results to identify and understand effective

inventory management strategies, avoid failures, ensure continued sustainability, preserve

employment, and positively impact social change.

Contribution to Business Practice

The study is of potential value because business owners and managers could use

the results to gain knowledge that could help them sustain their businesses. Ineffective

inventory mismanagement could negatively affect cash flow. Study outcomes may help

current and prospective business owners to generate valuable strategies and

implementation plans to manage their inventories. Using better inventory strategies,

SMROSS owners could enhance business performance and survival (Ribeiro-Soriano,

2017).

Implications for Social Change

The implication for social change may enable SMROSS business owners to use

study results to improve inventory strategies promoting business sustainability and

increase employment. More employment may result in lower welfare costs and more

dignity for local citizens. More successful business owners and their employees may also

be able to make more charitable contributions. Economic growth and social development

could be positive social outcomes enabling sustainable enterprises.

A Review of the Professional and Academic Literature

The purpose of the literature review was to analyze, compare, and contrast the

work of other scholars to the contents of my study and evaluate a broader view of the

research topic. The study results could assist business owners and managers develop

competence to maintain adequate inventory and satisfy customer demand (Ebekozien et

al., 2020; Ehrenthal et al., 2014). Creating customer loyalty is critical to an organization’s

sustainability (Khajeh Nobar & Rostamzadeh, 2018; Mishra & Zachery, 2015). In

addition, inventory control could mitigate the probability of excess stock and

obsolescence and improve profits (Feng et al., 2015).

I sourced the information for this study mainly from the Walden Library business

databases. The articles are peer-reviewed and sourced from databases such as ProQuest,

Science Direct, Google Scholar, and Business Source Complete. Key search words and

terms such as inventory management in SMEs, inventory strategy in SMEs, contingency

theory, inventory management, and financial performance and inventory management

and profitability will form the databases. The literature review contained 204 sources, of

which 201 or 99%, were peer-reviewed, and three or 1%, were non-peer-reviewed. The

147 sources, or 72.1%, are within the 5 years requirement and are peer-reviewed.

Conceptual Frameworks

In this study, I used the conceptual frameworks contingency theory and inventory

control modeling to explain the phenomena and strategies successful inventory managers

use in office supply businesses. Researchers can use theories to explain and understand

various models or ideals (Kivunja, 2018). Fielder (1964) described contingency theory as

involving an approach where leaders apply different procedures depending on the

situation. The leader's effectiveness depends on the leadership style and situation (Popp

& Hadwich, 2018). Madlock (2018) posited that leaders' leadership styles depend on the

employees' responses under contingency theory. Leaders can improve strategies by

employing inventory management tools to maintain optimum inventory levels.

Leaders and managers could understand how to become successful by introducing

management tools such as inventory modeling. Inventory modeling involves classifying

inventory to match seasonal product demand to determine the optimum inventory level

(Prasad, 1994). Managers could use inventory control modeling to select and assign the

model best suited to each classification set. Researchers could use the conceptual

framework of inventory management to explain how managers use inventory modeling to

optimize profitability (Prasad, 1994). Managers who have an in-depth understanding of

how to use inventory modeling could use this knowledge to optimize profitability. The

problem with inventory modeling is that many models are mathematical (Jackson et al.,

2020). However, researchers have used alternative theories to explain the different

phenomena.

Alternative Theories

I could use other theories, such as situational leadership theory (SLT), chaos

theory, stakeholder theory, and retail conceptual framework theory, to explain successful

inventory managers' strategies in office supply businesses. Business leaders could

implement leadership strategies that align with objectives to manage inventory and

resources for optimum results (Mahmood et al., 2020). Managers can exercise flexibility

under situational leadership in changing business environments as leaders create

strategies dependent on leadership style and approach.

Situational Leadership Theory

Managers can use different leadership styles to solve problems and build

knowledge from experiences to satisfy organizational goals. The SLT approach involves

flexible leadership, where leaders' actions vary depending on the situation (Negro &

Mesia, 2020). According to Murphy (1941), leaders evolve according to environmental

changes. Hersey and Blanchard (1982) defined situational leadership as the ability of

leaders to adopt four styles to fit circumstances: telling, selling, participating, and

delegating.

Each of the four styles aligns with employee-specific skill levels, and leaders who

know their followers' abilities can assign tasks accordingly. Leaders' workplace

techniques depend on the team's followers (Negro & Mesia, 2020). Leaders gave

employees with low skill level descriptions of completing task assignments, and the

employees continuously communicated with leaders for direction (Negro & Mesia,

2020). Followers at the selling level also lacked the willingness to work and required

some motivation to participate through communication (Hersey et al., 1979). At the

participating stage, some followers have the required skills and are willing to work but

lack the confidence to work independently. The delegation of tasks may occur where the

workers have a high skill level and can work independently without much supervision

(Hersey et al., 1979). Since the inception of situational leadership theory, scholars have

researched other theories, such as chaos theory, to explain leadership styles.

Chaos Theory

The chaos theory is an alternative theory on inventory management study. Chaos

theory refers to when leaders use different complicated factors to influence the behaviors

of employees (Rimita et al., 2020). A leader’s lack of knowledge and clarity can affect

their ability to create strategies to avoid confusion in making decisions in business. For

example, inventory managers cannot satisfy demands due to suppliers not delivering

inventory on time and the lack of communication leading to disorder. Contemporary

scholars such as philosophers and psychoanalysts have alternate views or discussions on

the benefits and disadvantages of business complexities resulting from chaos (Lartey,

2020).

Owners and managers experience complexity and uncertainty due to changes in

the market environment. However, business leaders may use chaos theory to estimate the

occurrence of uncertain activities and explain the strategies to cushion the complexity and

dynamics of inventory forecasting (Dumitrescu, 2019). Researchers view chaos theory as

a science where a change factor catalyzes interactions or complications during exchange

among simple systems (Lorenz, 1963; Rivera et al., 2005). Lorenz (1963) explained the

concept as a mathematical model that can be complex and unpredictable. Scholars

seeking evidence for leadership coined the stakeholder theory.

Stakeholder Theory

Another theory used by researchers to explain inventory management was the

stakeholder theory. Under stakeholder theory, business leaders are aware of external and

internal situations. The stakeholders, including employees, suppliers, customers, and the

general environment, are given equal consideration to maintain a balance (Paul, 2014).

Therefore, owners and managers can forge relationships with stakeholders to improve the

value of the business and leaders adopting the guidelines of stakeholders’ theory can

maximize the firm's value (Francis et al., 2019; Jones et al., 2018). By forming

relationships, leaders can increase the firm's profitability and shareholders' returns

(Weitzner & Deutsch, 2019). Another theory scholars used to justify market relationships

was the retail conceptual theory.

Retail Conceptual Theory

Business leaders can adopt suitable strategies to meet customers’ needs and

maintain satisfactory inventory levels. Under the retail conceptual theory, business

leaders offer goods in quantities ideal to customers, and inventory level varies from store

to store (Ganesh et al., 2020). Retailers implement strategies to reduce inventory costs

and maintain sustainability (Ganesh et al., 2020). The evolution of small retail stores to

large stores is changing to online platforms as physical stores diminish in numbers (Paul

& Rosenbaum, 2019). Retail owners and managers can utilize contemporary tools to

maintain sustainability in business. Business leaders can use information from sources

such as contingency theory to implement successful inventory management systems.

Contingency Theory and Inventory Management Systems

As researchers describe, managers endeavor to reduce costs and operate

efficiently under inventory management. Business owners should select a system to

balance the inventory on hand and the cost of holding stock. Retailers can opt to operate

under vendor managed inventory systems (VMI) versus retailer managed inventory

systems (RMI) (Wei et al., 2019). Vendor managed inventory system is where the vendor

determines when to replenish the retailers' inventory and the quantity required for

replenishment (Hong et al., 2015; Taleizadeh et al., 2016).

The retailer controls inventory under RMI and is responsible for inventory costs.

Under VMI, the vendor assumes the retailers' responsibility for inventory costs (Hong et

al., 2015; Taleizadeh et al., 2016). Under the contingency theory, the framework used in

this study, leaders who encounter new challenges can change leadership styles to adapt

and ensure effectiveness (Fielder, 1964). Leaders utilizing the different inventory

management systems can adapt leadership styles to fit different scenarios.

The VMI was one system leaders could use to effect adequate inventory levels by

relying on business partnerships to avoid stockout (Bieniek, 2018). Walmart managers

were the original users of the VMI system and partnered with leaders of companies such

as Proctor & Gamble and other suppliers in the 1980s (Afshan et al., 2018). Retailers

strive under VMI by allowing vendors access to electronic demand or point of sales

information. However, there must be trust between retailers and vendors for success

(Groenevelt & Sainathan, 2019). Some business owners are moving from RMI to VMI

systems to benefit from lower inventory costs (van den Bogaert & van Jaarsveld, 2021).

However, the VMI system can fail if the relationship between the vendor and the retailer

is severed. In addition, the contract should cover the required agreement (Groenevelt &

Sainathan, 2019). As a result of these potential VMI issues, some business leaders choose

to use the RMI inventory management system.

The retailer owns and controls all aspects of inventory management under RMI.

There is no need for online access to sales information, so there is less need for

partnership with external entities. Retailers may also experience routing problems when

using VMI. Including incentives in VMI benefits buyers and sellers as they share the

system's benefits rather than using VMI without inducement, where all profits are to the

buyer (Birim & Sofyalioglu, 2017).

Contingency Theory and Inventory Modeling: Inventory and Cash Flow

Performance

Cash flow shortages are critical to businesses, and owners and managers may

lower this risk by shortening the days in inventory (Chih-Yang, 2017). Scholars agree

that ineffective inventory management affects cash flow and may decrease firm

performance (Katehakis et al., 2016). Cash flows originate from the strong buying and

selling inventory, using funds on hand or on loan to purchase merchandise, and investing

excess cash to earn interest (Katehakis et al., 2016). Buying stock on credit is a policy to

improve business cash flows, and firms may delay payment until later to increase

profitability (Seifert et al., 2017). However, managers should look at the cost-benefit

analysis and determine the length of effectiveness (Li & Arreola-Risa, 2017). Lack of

cash financing can affect the firm's day-to-day operations, and smaller enterprises can

increase liquidity by applying strategies that drive growth (Masudin et al., 2018; Nobanee

& Abraham, 2015). Business owners may decrease inventories and benefit from an

increase in cash as a strategy to improve the firm's viability. Owners may combine lower

inventory strategies with other techniques to improve cash flows and performance, and

the level of improvement depends on the size of the enterprise (Steinker et al., 2016).

Inventory managers face numerous challenges in managing resources effectively

and achieving optimum stock levels. Business owners and managers can use the

management information system (MIS) to control inventory, improve cash flow, and

determine optimum stock levels and reorder points (Rumetna et al., 2020). Managers can

create and implement policies and guidelines to include technology and develop effective

processes to carry the required stock level to satisfy demand, resulting in increased

profits. Inventory managers can also implement robust internal control systems to plan

and manage resources and mitigate inventory management risks effectively. Owners and

managers who maintain healthy internal controls can meet demand objectives and

minimize stockout risks or overstock.

Business managers may offer various service levels to customers depending on

the category. The response time may also vary, and managers may use the strategy as a

tool to reduce inventory levels (Li & Lim, 2018). Owners and managers want to conduct

business at the lowest cost. One challenge they face is satisfying the requirements of

different customers while maintaining an economic inventory capital outlay (Gabor et al.,

2018). Inventory managers face challenges in executing a mix of strategies to control

costs.

Inventory Modeling: Inventory Management Costs

The inability to effectively control inventory costs can be costly as problems such

as inventory shortage can result in lost sales to retailers (Foster et al., 2019). Business

owners and inventory managers can experience spikes in inventory carrying costs, costs

of shortages, and replenishment costs when controls are lacking or ineffective (San-José

et al., 2019). Other challenges include demand changes, and owners and managers may

change inventory strategies to satisfy demand. Owners and managers can experience

increased holding costs after implementing strategies such as holding more stock to

mitigate demand variation (Turkul et al., 2016). Implementing inventory management

controls should be one of the priorities of business owners and managers who can

compete effectively by significantly reducing costs.

Retailers sometimes hold excess inventory to induce suppliers to reduce the

wholesale price of future purchases. The strategy can be beneficial to both retailers and

suppliers. Retailers will experience the benefits of inventory if the holding costs are high

and suppliers allow more future discounts to induce retailers to hold excess stock. The

supplier may not discount prices that are already minimal, so the supplier will not

experience any benefits. However, the supplier may face challenges in improving the

inventory process resulting from a retailer's reduced holding inventory (Mantin &

Veldman, 2019). The retailer must choose the opportune time to hold excess inventory

because the wholesaler may already hold prices low, significantly reducing costs.

Inventory Modeling: Inventory Turnover

Inventory is a fundamental element in the company’s operations as it impacts

profitability and the ability to compete effectively. Therefore, businesses should

implement inventory management strategies to maximize asset utilization and turnover

(Shardeo, 2015). Inventory is also a fundamental unit of working capital management,

and effective working capital management increases profits (Rahman et al., 2015).

Effective internal control over inventory may benefit owners and managers by improving

turnover ratios and reducing excess stock and profitability (Feng et al., 2015). Managers

may plan to increase inventory turnover or reduce aged inventory, and the strategy for

each plan will be different (Marodin et al., 2017).

Business owners and managers can benefit from increased working capital from

rapid inventory turnover. The ideal plan is to have the right amount of capital because

excessive working capital can cause shareholders’ stock prices to fall (Peng & Zhou,

2019). The timing of cash receipts from sales and cash payments for inventory purchases

is critical to the wellbeing of the stakeholders in the supply chain (Peng & Zhou, 2019).

Returning cash for sales on time and delaying payment for as long as possible is what

strategy owners and managers can use to improve working capital.

Contingency Theory and Inventory Modeling: Real-time Inventory Management for

Improved Sustainability

The foci of managers who use real-time inventory management are reduced costs

and increased profits. Business owners and managers should implement policies to

minimize waste and excess stock because poor inventory management impedes a firm's

sustainability (Civelek, 2016). Kerim et al. (2016) stated that business managers who

appropriately adjust their inventories to match changes in demand would facilitate cash

flow for growth. Inventory managers who use real-time models can reduce on-hand

inventory but leave enough safety stock to meet small, unexpected increases in demand

(Turkul et al., 2016). SMROSS owners should implement effective inventory

management processes.

Using real-time inventory management systems by owners and managers of

SMROSS could result in cost reduction and savings. However, some managers and store

owners may be overconfident in business and fail to implement real-time inventory

policies to maintain sustainability (Ancarani et al., 2016; Dbouk et al., 2020). In times of

uncertainty, managers could apply the appropriate strategy to maintain the minimum

stock level to meet the required demand and reduce costs (Hancerliogullari et al., 2016).

Contingency Theory: Information and Inventory Management

Managers need exact information to manage inventory and reduce costs. Having

accurate information is essential as managers will purchase just enough merchandise and

forego the need to hold superfluous goods. Knowledge is the tool managers use to avoid

discrepancies or missing items, or excess inventory. Business owners and managers need

the information to be successful because it is the thread to bind all the participants in the

market (Cartwright et al., 2021a).

Inventory managers need to monitor inventory levels and collect information on

the inventory level to have on hand to satisfy demand. Business owners and managers

can use the inventory monitoring tool as a signal to determine when to reorder items from

suppliers (Kumar, 2017). When business owners can make accurate purchases, demand

will be satisfied during regular sales periods and periods of unusual surges in demand. In

addition, the satisfaction of needs during periods of unanticipated waves in market

demand can reduce the BWE (May et al., 2017).

Business owners and managers rely on quality information to mitigate inventory

classification errors and discrepancies. The errors result from differences in information

technology (IT) system records and the inventory on hand for sale (Morenza-Cinos et al.,

2019). Researchers have found that business owners and managers can use quality

information to implement strategies and reduce errors and discrepancies between the

system records and the inventory.

Contingency Theory and Inventory Modeling: Technology and Inventory

Management

Business owners use information and communications technology (ICT) to

remain sustainable and compete effectively. More business owners and managers are

adopting technology to surge ahead of the competition. More business owners and

managers use ICT to improve communication, customer service, and inventory

management (Mathu & Tiare, 2017). IT tools such as the Internet and e-commerce allow

business owners and managers to operate and grow their businesses effectively (Mathu &

Tiare, 2017). Owners and managers watch customers' behavioral patterns and use

technology daily.

More household occupants are starting to use the Internet for reasons such as

browsing for potential purchases, recreation, and making specific purchases that are

planned (Raphaeli et al., (Katehakis et al., 2016). Business owners and managers can use

online platforms to showcase their products to purchase from the comfort of their homes

and mitigate the lack of space in the physical location. The two main activities of internet

users are browsing and making purchases. Customers practicing internet shopping have

access to a broader assortment than instore. Retailers can stock goods that go very fast

instore while providing access to numerous other items online as there is no space

limitation online. Consumers also give product reviews that retailers can use to determine

whether it is wise to continue carrying a product.

Retailers promote products and alert customers via mobile or other technology

using technology as a tool to analyze retail information (Mahar et al., 2017). Business

owners and managers view the promotions in real-time, use strategies to gain a

competitive edge and use limited space effectively. Retailers can use a mix of markup,

customer preferences, and inventory positions to increase profit (Mahar et al., 2017).

Using a single information factor may not be as effective as when retail managers

combine promotion policies, retail customer information, and technology.

Business owners and managers can gain proper insight into financial standing,

future trends, business opportunities, and customer preferences by employing appropriate

inventory management strategies. Software technology such as Radio-Frequency

Identification (RFID) consists of tools that business owners and managers can use to

maintain continuous inventory visibility, manage inventory levels in various locations,

and set up automatic order points (Morenza-Cinos et al., 2019). Scanners are one type of

technology inventory managers can use to scan SKUs in and out and can determine

inventory balance at a point in time. In addition, business owners and managers can use

software to organize product SKUs to assess the availability and location of items.

Business owners and managers have access to retail information and limited

access to retail space (Mahar et al., 2017). Business performance is an indication of the

strategies that managers employ. Business owners and managers can use technology to

keep in line with the competition, resulting in improved business performance (Singh &

Singh, 2019). In addition, business owners and managers benefit from using technology

to mitigate inventory and demand uncertainties.

Contingency Theory: Inventory Management and Sustainability

Business managers aim to build sustainable businesses that could exist for a long

time. Inventory management is one method used by owners and managers to maintain

sustainability and growth. Inventory management is keeping costs to a minimum while

holding the optimum inventory to satisfy demand (Adusei & Awunyo-Vitor, 2014;

Sanchez-Ruiz et al., 2018). Managers who competently control inventory reduce related

operating costs, facilitating stable earnings and profits (Adusei & Awunyo-Vitor, 2014).

Managers whose strategy is to earn profits will manage inventory effectively to ensure

business officers have adequate inventory and not excess inventory, which drives up

costs and reduces profitability. SMROSS business owners can use inexpensive tools to

assist in managing inventory effectively. RFID is one such tool that managers can use to

track inventory and determine if they need more or less inventory. Owners and managers

could employ strategies to reduce inventory to a practical level if there is excess

inventory.

Business owners and managers can succeed because of their strategies,

relationships with vendors, and product knowledge and experience. Inventory managers

should implement strategies that satisfy customers' demands and drive the business's

positive financial performance (Karadag, 2018). More customers may shop at stores

where the staff or employees know products and make recommendations on product

choices. The more customers make purchases, the more likely the business will remain

sustainable. Owners and managers who establish a good relationship with suppliers can

be competitive because of consistent support from suppliers (Vivaldini et al.,

2017). Implementing the proper strategies will result in business success and continuity.

Contingency Theory and Inventory Modeling: Radio-Frequency Identification

(RFID) Technology

Shrinkage in inventory is one problem business owners, and managers encounter.

Inventory shrinkage may result from voluntary activities such as theft or other factors

such as damages and expiration (Zhou & Selwyn, 2017). However, inventory personnel

may still record the business's inventory ledger (Tao et al., 2019). The loss of tags,

detachment and switching tags on items can result in shrinkage and uncertainty (Zhou &

Selwyn, 2017). However, owners and managers can use technology to mitigate the

problem of shrinkage. Owners and managers can use RFID as an inventory management

tool to track inventory items and determine stock balances at a point in time (Gu et al.,

2017). RFID is a system that uses radio waves to identify, track, and transmit

electromagnetic tag information. Inventory managers and business owners can use RFID

technology consisting of three units: tag, antenna, and reader. RFID is a real-time

response tool that owners and managers in retail can use to get ahead of the competition

(Zhang et al., 2018). Retailers can use RFID to mitigate inventory misplacement

problems (Zhang et al., 2018).

Inventory managers can use RFID and robot technology to maintain better

inventory visibility and augment competitive advantage. Using RFID with human

workers, business owners, and managers may achieve less precise results than using a

combination of RFID and robots (Morenza-Cinos et al., 2019). Humans are prone to

errors when they perform repetitive and complex tasks. Human workers may not need to

perform repetitive tasks using robots to cut time, reduce costs, and ensure greater

accuracy. Inventory managers and business owners using traditional RFID systems can

track items using handheld systems compared to RFID robots, where managers can view

items in real-time.

RFID systems are evolving, and users can access devices that are lighter in weight

and can use them effectively (Álvarez López et al., 2018). Business owners and managers

can use RFID technology to count inventory faster and more accurately. RFID

technology is now more economical and can support different tasks. Business owners and

managers can benefit from implementing RFID systems technology to perform numerous

tasks.

The use of technology is increasing because researchers have concluded that

business owners can use IT to enhance firm performance (Alsurmi et al., 2020). In

addition, more business owners and managers use IT to compete effectively and address

demand uncertainties (Borodin et al., 2016). Inventory managers are using IT tools such

as RFID technology in managing inventory.

The leaders of stores such as Walmart have implemented the use of RFID and

succeeded. Managers and owners can communicate immediately to business partners,

such as suppliers, to order before inventory is at a critical level and maintain

sustainability (Chudy-Laskowska, 2018). However, RFID comes at a cost and may be too

costly for smaller business owners to implement, resulting in the competition's advantage

in the market. Zhang et al. (2018) found that some store owners use RFID as part of their

strategy. However, tagging costs can be high and barriers to some business owners who

do not elect to adopt the RFID strategy. There are different levels of accepting RFID, as

acceptance may vary with the competition. Owners and managers may use the strategy

when the competition is intense, regardless of tagging cost. However, when tagging costs

are low and competition intensity decreases, owners and managers may be reluctant to

adopt RFID.

Business owners and managers sometimes employ weak strategies that cause

uncertainties and errors in inventory management. Some business owners and managers

of small businesses would benefit from using RFID technology to monitor and track

inventory movement and mitigate uncertainty factors and inventory errors (Yan et al.,

2017). Some retail owners, such as Home Depot, also use RFID and have followed

Walmart's lead. Retailers experience fewer shrinkage errors and inventory inaccuracies

than previously occurred when retailers used ineffective replenishment strategies (Doss et

al., 2020). By implementing RFID, users can resolve such as employee theft, fraud,

spoilage, and shoplifting can be resolved. Using RFID can also reduce administrative and

human errors resulting in an efficient inventory management system.

Retail business owners and inventory managers experience inventory inaccuracies

resulting from uncertainties. Uncertainties occur when inventory shrinkage results in

discrepancies between the physical stock and the system (Zhou & Selwyn, 2017). RFID

is supportive technology that owners and managers can use to solve inventory inaccuracy

problems.

Managers can use the system to identify and accurately predict inventory

information regarding quality, quantity, and position (Tao et al., 2019). As a result, retail

owners and managers using RFID can reduce inventory costs and eliminate problems

such as running out of stock (Zhou & Selwyn, 2017).

Retailers adopt RFID to gain a competitive advantage (Zhang et al., 2018). When

the competition is intense, some managers may use RFID to facilitate keeping goods on

the shelves in just the right quantities. Retailers are keen to use RFID as a strategy when

the tagging costs are low because tracking inventory can be expensive. Searching for lost

tags can be onerous and time-consuming, and using other systems has proven inefficient

(Liu et al., 2019). The RFID search includes lost tags, which makes the system more

efficient. Therefore, business owners and managers use other strategies, such as supply

chain management (SCM), to gain a competitive edge and remain profitable (Koc &

Bozdag, 2017).

Inventory Modeling: Supply Chain Management

Business owners and managers can use SCM as a strategy to increase profitability

through cost reductions and efficiency (Obeidat, 2021). Business owners and managers

can benefit from the agility in the supply chain, where there is a quick response to

customer demands and significant cost reductions (Tarafdar & Qrunfleh, 2017). Linking

with the manufacturers in the supply chain allows for greater efficiency, timeliness, and

cost minimization in inventory management.

Along with SCM, IT was an innovative strategy that business owners and

managers use to increase efficiency and effectiveness in inventory management.

Manufacturers and retailers can use IT to gather and communicate information and

knowledge on supply chain and inventory management. RFID is a tool that business

owners and managers can link to SCM to determine optimal warehouse management

strategies. Retailers and manufacturers can use RFID in SCM, ensuring the inbound and

outbound product process is consistent.

Contingency Theory: Environmental Impact on Inventory Management

Uncertainty and environmental changes sometimes affect purchasing decisions

because of overconfidence, an individual bias in decision making that may result in

inaccuracies. Managers should recognize the speedy approval of a change in business

operations and demand process to avoid insolvency and optimize performance (Friday et

al., 2021; Kalchschmidt, 2012). Inventory management affects inventory levels and

warehouse design and impacts the environmental footprint required to hold a particular

stock (Fichtinger et al., 2015). Managers should make reasonable decisions to mitigate

bias during changes and uncertainty (Ancarani et al., 2016). The aim is to maximize

profits, and managers, therefore, require flexibility to adapt to varying environmental

changes (Harrauer & Schnedlitz, 2016). Sustainability is critical, and SMROSS business

owners could generate higher profits by quickly adapting to changes in environmentally

friendly business practices (Chan et al., 2017). Changes include factors such as

globalization and new market trends.

Contingency Theory and Inventory Modeling: Sales Forecasting Effects on

Inventory Management

Managers use forecasts to accurately estimate demand and inventory levels

(Bergman et al., 2017). Accurate forecasting and the use of different prediction models

may facilitate positive performance. By using precise forecasts, owners and managers

reduce bias and improve objectivity (Barrow & Kourentzess, 2016). Without accurate

forecasting, erroneous purchase decisions may cause understocking or overstocking,

resulting in missed sales or excess inventory carrying costs (Ancarani et al., 2016).

Managers need customers and supply information to create accurate forecasts (Boone &

Ganeshan, 2015). Inventory information that is reliable and correct is essential and

ensures managers can mitigate inventory errors such as shrinkage, misplacement, and

scanning errors (Hancerliogullari et al., 2016; Shteren & Avrahami, 2017). The lack of

accurate supply information may disrupt inventory supply and impact the firm's

profitability.

Some managers make decisions based on inaccurate inventory data and, as a

result, experience material outages or overstock (Tao et al., 2020). Tao et al. (2020)

studied the impact of forecasting on inventory management. The inventory managers

base the ability to accurately determine stock levels and prices on predictions. Inventory

managers employing poor management skills can present inaccurate stock levels and

pricing data. Therefore, inventory managers should implement strategies to provide

accurate demand forecasting and maintain adequate inventory balances.

Inventory managers reduce excess stock and costs by accurately estimating future

demand (Sagaert et al., 2018). Several tools exist that managers may use to mitigate the

inventory problems, such as forecast bias and inventory disruptions. The physical Internet

is a global tool that managers can use to alleviate the supply disruption problems the

business may encounter (Yang et al., 2017). Vertical integration involves information that

can help managers create strategies to reduce bias and facilitate practical inventory levels

(Wan, & Sanders, 2017). Leaders can also engage the Internet to mitigate challenges such

as forecast bias, high inventory levels, and increased costs. There are also systems that

business managers can use to estimate or forecast demand.

Forecasting Systems

Managers and owners in the retail industry can use computerized merchandising

control systems to estimate future product demand. The primary objective is maintaining

the basic inventory level necessary to avoid stockouts or overstock problems. Business

owners sometimes face challenges in forecasting customer demand accurately and

optimizing inventory levels (Dai et al., 2016; Jin et al., 2017a). Inventory managers

experience demand uncertainty risks and may implement a strategy of forecasting using

historical data or comprehensive analysis to make inventory decisions (Feng et al., 2019).

When business owners can accurately predict demand, sales, and purchases, they

can have an advantage in business. Business owners and managers can use one or more

basic forecasting types, such as judgment, forecasting, or time series. Managers use

judgment when historical data is unavailable. However, the problem of bias is inherent,

and the result will be forecasting errors. Retail owners can also use causal forecasting to

determine the best or worse scenarios. Causal forecasting is quantitative, and users tend

to rely on dependent and independent variables (Tasdemir & Hiziroglu, 2019).

Forecasting inaccuracies may lead to inventory levels that may exceed or be lower than

demand. Using trends and seasonal patterns is a time series method managers can use to

improve inventory management forecasting.

Time Series Forecasting. Time series forecasting includes using historical data

analysis using computer software to determine trends over time. The time series

forecasting process may also lead to inaccuracies and the inability of managers and

owners to maintain inventory to match demand. When future information is unknown,

business owners and managers may be unable to estimate the correct inventory level

(Sagaert et al., 2018).

Accurate Forecasting. Inventory managers need accurate forecasts and data to

project future demand. Business owners and managers compete when they can accurately

predict changes in the market and adapt to changes (Neves-Moreira et al., 2019).

Achieving accuracy can be challenging. However, managers may combine multiple

forecasts with improving efficiency. Using various estimates by managers reduces bias,

enhances the accuracy of the data, and results in more normal forecasting errors.

Business owners and managers need accurate forecasts to communicate with

partners in the supply chain. Continuous sales forecasting and demand process

management are critical as inventory managers and business owners can generate more

accurate demand information (Lucie, 2017). Transmitting precise information to the

supply chain partners ensures more precise inventory levels and lowers the BWE

(Schoemaker & Tetlock, 2017). Ahmad and Zabri (2016) found that the forecast

management system could benefit inventory managers by determining inventory levels

and reorder times. Proactive managers can reduce inventory shortages or overages

resulting from demand variability (Choudhury et al., 2018).

Accurate forecasting by inventory managers can result in the need for lower levels

of stock on hand, more sales, and less out of stock items, less manual labor, and lower

carrying costs. Business owners and managers benefit from accurate forecasting when

there is a team effort or inclusion of all the stakeholders in the business (Choudhury et al.,

2018). The forecasting process should include factors such as forecast period, demand

trends, maximum stock level, and reorder points.

Jin et al. (2017b) analyzed quantitative study data from censuses and determined

that information sharing among supply chain stakeholders can reduce the BWE and

improve forecasting accuracy. Sharing the information in the chain allows each

stakeholder to understand customer demand. Understanding the customers' needs will

enable owners and managers to implement strategies that help mitigate stocking issues.

Information sharing can decrease costs and forecast accuracy (Kulkarni et al., 2021).

Business owners and managers should expect to experience some disruptions in

demand forecasting and implement strategies to reduce forecasting errors. Using a

communication strategy to reduce the BWE can be helpful as constant demand

monitoring and a steady flow of communication among supply chain partners (Tieman,

2017). Business partners use timely communication to reduce the BWE resulting from

demand increases (Cannella et al., 2018). Managers can implement strategies such as

keeping track of order demands and inventory levels to reduce the BWE. Managers can

also limit the number of suppliers to facilitate consistent communication and keep prices

constant instead of lowering prices and offering discounts to increase the BWE.

Contingency Theory: Market Uncertainty

Market uncertainty impacts inventory management, and profitability and demand

uncertainty could result in significant losses. Uncertainties such as unreliable suppliers

may result in costs such as shortages and defects (Hong et al., 2017). The negative impact

of demand uncertainty is confirmed. The measurement of demand uncertainty and the

expected loss using entropy as the numeric value of the effects of market risk on

inventory management and expected loss confirmed the negative impact of demand

uncertainty (Fleischhacker & Fok, 2015). Managers may implement strategies to mitigate

against some uncertain market problems. Managers can use strategies to influence owners

and managers to increase safety stock, satisfy demands in times of uncertainty, and

improve the firm's profits (Luo et al., 2017). Another strategy is to use several supplier

sources to resolve the shortage and reduce defective costs (Hong et al., 2017). The

availability of consumer demand and the timeliness of information is essential for

planning inventory and supply chain processes (Atnafu & Balda, 2018).

Demand variability is a problem that managers and business owners face when

determining the inventory level they need to carry (Pastore et al., 2019). There may be

uncertainty and the probability that consumers may not purchase as much as the forecast

when there is variability in demand. The result could be excess inventory and a profit

reduction (Pastore et al., 2019). The volatility and demand uncertainties are challenging,

and retail owners and managers have difficulty deciding on inventory levels to hold.

Planning is also uncertain, as demand forecasts can be inaccurate. Therefore, owners and

managers can experience increasing holding costs resulting from excess stock levels

(Papanagnou & Matthews-Amune, 2018). Excess stock can ultimately lead to unsold

products in a business. Unsold inventory will negatively affect the profitability of the

business owners (Datta, 2017). Owners and managers can implement strategies to

manage inventory and reduce the negative impact on profitability (Datta, 2017).

Contingency Theory: Customer Loyalty and Behavior

Inventory managers and business owners value their reputation and use it to create

policies and strategies. Customers will choose firms with owners with a reputation for

delivering products on time (Khmelnitsky & Singer, 2015). The customer develops a

perception of business reputation after placing an order and experiencing the delivery of

products.

Business owners and managers of brick and mortar stores sometimes have limited

product lines while using limited product space resulting in the inability to satisfy

delivery demands. The limited space for inventory in the brick and mortar store can be

offset in the online store because there are fewer display needs in an online store (Sung &

Huddleston, 2018). Managers can implement a mix of brick and mortar and online

strategies to satisfy customers' demands.

Trust and loyalty are two customer traits that are important for business retention.

To satisfy customers, increase their trust, and increase the probability of customers'

regular patronage, business owners must maintain appropriate inventory levels. Business

leaders tend to grow and make profits when customers are loyal (Kandampully et al.,

2015). Customer loyalty or disloyalty can be measured by looking at a trend in purchases

over a given period. Evaluating the owners' and managers' actions as unfavorable is one

criterion customers may use to continue with the firm or break ties (Khmelnitsky &

Singer, 2015). Excellent service quality can result in customer satisfaction, trust, and

loyalty.

Business owners and managers should create strategies to keep unsatisfied

customers at a low level. The reputation of owners and managers is affected when

unsatisfied customers are high (Khmelnitsky & Singer, 2015). Managers should provide

quality products and services where there is competition because the customers can move

their patronage to competitors with a good reputation. Creating strategies that involve

building a close relationship with customers through excellent customer service is what

owners and managers should do to protect their reputations and guard against losing sales

to online businesses (Kureshi & Thomas, 2019). Managers and owners can maintain a

good reputation by sharing information with suppliers.

Contingency Theory and Inventory Modeling: Sharing Information between

Business and Supplier

Agile supply chain members support exchanging information, cooperation, and

integration (Ju et al., 2016). Owners and managers share information with suppliers to

form strategies to support efficient inventory systems (Nemtajela & Mbohwa, 2017).

Owners should choose a user-friendly inventory management system so the owners can

skillfully augment business performance (Song & Sun, 2017). The impact of information

sharing on performance improvement is based on demand variance, lead time average,

forecasting period, and inventory policy (Dominguez et al., 2018).

Supply chain members can optimize decision making by sharing information (Ali

et al., 2017). Business owners using enterprise systems (ES), enhanced business supplier

information (BSI) processes and significantly improved inventory management

capabilities (IMC) and value creation facilitate information sharing between retailers and

suppliers (Ochoa et al., 2017). Partial information used by managers as a strategy is

crucial and should be adequate to improve performance substantially (Dominguez et al.,

2018).

IT tools can assist inventory managers in sharing information with other players

in the supply chain and enhance demand forecast accuracy (Singh et al., 2015). Singh et

al. considered cloud technology to improve information sharing in the supply chain, as

demand forecasting is crucial to inventory management. Owners and managers can

employ Collaborative Planning, Forecasting (CPFR), and replenishment to reduce

inventory management costs. CPFR is a system where users can collaborate and share

relevant demand information (Hill et al., 2018). The demand forecast data under CPFR is

reliable, and business owners and managers can use technology and information sharing

to replenish inventory levels only when necessary (Hill et al., 2018).

By sharing information, supply chain partners allow for a clear review of the

demand requirement. Information sharing allows business owners and managers to

reduce inventory to an acceptable level. There is a decrease in uncertainty and BWE by

sharing knowledge and collaborative planning (Hill et al., 2018). Business owners and

managers can carefully plan inventory management by providing products, avoiding

stockouts, and reducing holding costs (Hill et al., 2018). However, sharing information

by itself may not be optimal for retailers. Using technology to track inventory and

collaboration will benefit retail managers and owners to develop optimal inventory

strategies (Jain & Mamani, 2017).

Contingency Theory: Effective Inventory Management Strategies

Inventory managers should use an effective inventory management system to

ensure enough funds to cover business operations or improve performance (Lekkakos &

Serrano, 2016). Proper inventory management is essential for firms to maximize

efficiencies and profits. Retail owners and managers use procurement management tools

to manage revenue and control inventory (Wang & Wang, 2018). Inventory managers

must obtain information from customers who rely upon excellent service and product

availability. (Salam et al., 2016). SME owners strive to monitor cash, receivables, and

inventory for efficiency and effectiveness to improve their financial performance and

competitiveness (Karadag, 2018). Inventory managers relate to financial management, as

managers determine solid financial management as essential for SMEs' competitiveness

(Karadag, 2018).

Managers who optimize inventory quantities will improve business performance,

retain employees, and foster firm sustainability (Ahmad & Zabri, 2016). Business owners

and managers may experience a decrease in profitability because of inventory

mismanagement costs. Inventory managers could implement a sharing strategy to reduce

costs and improve business performance (Tathan et al., 2017). The sharing strategy

involves managers exchanging information at different levels in the supply chain (Du &

Jiang, 2019). Owners and managers can share demand information throughout the supply

chain to satisfy customers' needs.

Focusing on consumer needs is essential for owners and managers to achieve

business success. When retailers concentrate on customers' needs, they can provide the

products and services that the customers need. According to Finne and Grönroos (2017),

the customer is integral to the business's plans and strategies. Under inventory control,

modelling leaders and managers can employ strategies that optimize profit. Effective

inventory management strategies align with inventory control modelling as business

owners and managers implement strategies to maintain customer loyalty and optimize

profits. Therefore, customers, satisfaction, and loyalty are what retailers use to drive

growth in business. Retailers provide goods and services to increase sales and create and

maintain loyalty.

Contingency Theory and Inventory Modeling: Space Limitations and Other

Inventory Management Challenges

Small business owners and managers may experience the problem of limited

space to showcase products. With long life cycle products, limited space can be

challenging and lead to a limited assortment or a wide assortment of products with low

inventory levels (Zhang & Rajaram, 2017). Business owners experiencing stock

shortages could also decrease profits by failing to satisfy customer demands. Inventory

shortages and anticipation of lack of stock can be a deterrent to making purchases by

prospective customers (Foster et al., 2019).

Managers should be aware of the impact of space limitations and shortages on

customers' behavior and prospective customers. Retailers with limited shelf space can

optimize the area by making strategic decisions on how many products to stock. The plan

to have more stock can mean ordering more each time and reducing the number of orders.

A high quantity of one item may mean less space to carry other items. A backroom to

store items can free up space to sell things that customers may need (Hübner & Schaal,

2017).

Another challenge inventory managers can face is when the business is growing.

To satisfy demand increases, business owners must procure more inventory and evaluate

opportunities to reduce the cost of goods, such as buying in bulk. In addition, inventory

managers may provide an assortment of products to satisfy increases in demand

(Timonina-Farkas et al., 2020). As inventory managers evaluate design options to stock

sufficient inventory for demand fulfillment, space limitation is a contingency factor.

Owners and managers could formulate inventory management plans and implement the

right strategic combination to solidify longevity in the business growth stage.

Inventory Volatility and Risk Mitigation

Inventory managers with deficient system processes may subject themselves to

higher risks during demand volatility periods (Boudia et al., 2018). As a result of these

fluctuations, SMROSS owners who use one supplier do not have the production

flexibility to fulfill varying inventory needs and may have difficulty remaining

competitive. Therefore, SMROSS owners may mitigate this risk by buying goods from

more than one source (Nakandala et al., 2018). The tradeoff of having more than one

supplier is a possible increase in the cost of goods. However, the increased cost of goods

may have less of a financial impact than not being able to satisfy customer needs,

especially if the SMROSS owner does not have to procure the most expensive products

from more than one supplier. The reason is that some customers may be willing to wait

long periods to receive high-end products (Marino et al., 2018). Business leaders aware

of customer demands can implement strategies to satisfy customers and create wealth.

To minimize customers' waiting for high-end products, business owners and

managers can proactively employ strategies to manage inventory and proactively prevent

supply chain disruptions. A strategy such as risk mitigation inventory (RMI) is one way

of mitigating supply chain disruption risk (Lucker et al., 2019). Under RMI management,

owners and managers maintain additional inventory to reduce shortages. Holding

additional stock means added costs for business owners and managers paying extra

storage. Business leaders who maintain stock to mitigate shortages should also use

forecasting to satisfy customer demands.

Bull whip Effect. Business owners and managers should understand customers'

demands and forecast accurately to ensure inventory is at an optimal level to satisfy

demand (Dai et al., 2016). However, challenges such as the BWE hinder inventory

managers' ability to analyze order variances correctly. The BWE is where managers

maintain some inventory no matter the demand level (Ojha et al., 2019). However, BWE

may negatively impact demand forecasts leading to cash flow issues, stock-outs,

backorders, and excessive inventory. There may be additional costs because of out of

stock or overstock situations (Mohan & Chitale, 2016). BWE can be costly for business

owners because of lost sales or excessive obsolete inventory.

The BWE may result from a lack of collaboration or inefficient operational

processes in the supply chain. Problems such as variability between demand and supply

are one of the main reasons for inaccurate forecasts. Experts discuss big data analytics as

the main tools to mitigate supply chain problems, such as forecast problems resulting

from BWE (Hofmann, 2017). Lean inventory techniques may improve profitability, and

some researchers have indicated that lean inventory eliminates waste, reduces costs, and

improves quality (Panwar et al., 2017).

Demand information may be incorrect, resulting in unreliable forecasts and

discrepancies between orders and customer demand (Jin et al., 2017a). Information

distortion is one challenge that retail business owners and managers face, and the effect is

variability in demand or BWE (Wang et al., 2016). Sharing information is one method

that retail owners and managers can use to mitigate fluctuations in the market (Wang et

al., 2016). The retail owners will receive sufficient goods to satisfy customers' demands

without experiencing overstock or understock. Retailers should estimate consumer

demand based on retail orders or make mathematical inferences (Ali et al., 2017).

Suppliers and manufacturers use the information in forecasts to accurately provide

production and sales.

Business owners and managers generally react to the BWE crisis, and some

scholars argue that owners and managers may have high-cost utilization (Zhang et al.,

2018). The high costs result from inefficient processes, obsolete inventory, additional

spending to purchase merchandise, and increased operational costs (Taylor, 2016). Lack

of timely information among suppliers may be a causative factor in BWE (Jaipuria &

Mahapatra, 2014).

Researchers such as Mamavi, Nagati, Pache, and Wehrle explored the operations

process's implications where network stakeholders have different priorities. Mamavi et al.

(2015) concluded that operating under varying preferences is the prime cause of

disruptions in the supply chain. Where the priorities differ and collaboration is inefficient,

the result is more SCM problems, such as disruptions and additional operational costs

(Nagashima et al., 2015). Inventory managers and other business stakeholders must

proactively implement policies to mitigate the BWE (Nagahen et al., 2017). The fallout

from factors under the BWE, such as forecasting, process costs, and inventory

obsolescence, can result in additional costs through lost revenues. Business owners and

managers may be unable to provide the level of goods to satisfy customer demands;

therefore, customers may defect to other brands and businesses.

Hofmann (2017) argued that inventory and supply chain managers could use big

data to reduce the BWE. Big data includes large amounts of information collected from

social media (Iqbal et al., 2020). Users need to analyze the data to determine the

information that will be of value by identifying patterns and data relationships (Iqbal et

al., 2020). Managers can analyze complex data sets for specific business needs to ensure

the optimum benefits of using big data.

Contingency Theory and Inventory Modeling: Big Data and Inventory Management

Managers are using big data more frequently to gain innovative, competitive

advantages. Big data consists of digital information in large volumes, and users can use

technology to aid in analytical research (De Mauru et al., 2016). Big data can be valuable,

and business owners can search through large volumes of data using analytical tools to

analyze the data quickly (Witkowski, 2017). Business owners and managers can retrieve

information that can be valuable to maintaining a competitive edge (Bertsimas et al.,

2016). Big data to mitigate business risks has proven to be why some businesses can

operate efficiently and increase profitability (Bertsimas et al., 2016). Business owners

and managers can avoid delivery uncertainties by using data to predict demand accurately

and reduce the variation between orders and demand. (Bertsimas et al., 2016; Witkowski,

2017).

Social Platforms. Social platforms such as Facebook are helpful as advertising

tools in businesses. Inventory managers can glean information by exploring the use of

Facebook, Twitter, and big data to improve business strategies in SCM (Singh et al.,

2017). The platforms are valuable tools managers can use to mitigate risks and

communicate with stakeholders in the supply chain and customers.

The information on social media is the customers' voice and is an opportunity for

managers and owners to zone in on the problems to sustain the business (Singh et al.,

2017). Business owners and managers can use the platforms to network, share

information by monitoring problems in the supply chain, and communicate with

customers and suppliers (Chae, 2015). Papanagnou and Matthews-Amune (2018) have

also written about the benefits of big data in information sharing to provide accurate

demand forecasts.

IT Integrated Systems as a Management Tool. Inventory managers and retailers

can use IT integrated systems to promote strategies to reduce costs, minimize disruptions,

and promote change in social behavior (Ju et al., 2016). Business owners and managers

can implement strategies, including innovations, to induce customers and experience a

more significant competitive edge (Wang & Wang, 2018). To stay ahead of the

competition, business owners and managers can form global partnerships with suppliers

while expanding customer bases and accessing new IT inventions as tools (Ha Nguyen,

2017). Integrating IT systems in business is a strategy for business owners, and managers

can use it to reduce information-sharing deficiencies, improve operational performances,

and minimize the BWE (Botham et al., 2017).

Information Technology as a Competitive Tool. Business owners need to

compete against others in the industry to remain sustainable. According to Datta (2017),

business stakeholders can implement strategies that align with the market environment to

maintain a competitive advantage. Managers and owners can maintain business relevance

by implementing strategies that align with the market. Inventory managers can apply big

data analytical tools to gain a competitive advantage (Côrte-Real et al., 2019). Business

leaders are using IT to gather market information to maintain a competitive advantage.

Inventory managers and owners create employment opportunities by

implementing IT coordinated systems to improve inventory management and provide

customer satisfaction at a lower cost (Priyadarshini et al., 2017). Chowhan et al. (2016)

concluded that market competition rules changes with the use of new IT innovations as

users have a competitive advantage. Business leaders can establish networking sites to

enable a consistent flow of information and reduce uncertainty.

Uncertainty in business performance is challenging for business owners and

managers. The use of data is one tool managers can use to glean information on business

performance and mitigate and plan against uncertainties such as errors in forecasting

(Papanagnou & Matthews-Amune, 2018). Inventory managers can use big data tools to

collect sales and purchase information and, more precisely, formulate demand plans and

inventory control strategies.

Contingency Theory and Inventory Modeling Inventory Management and Online

Retailing

Online retailing is becoming more popular among business retailers who desire to

increase sales. Some retailers give the option of delivery or having the customer pick

orders up at the store. The opportunity to visit the store for pickup allows the store

owners to increase revenue as customers make further purchases on arrival for pickup

(Fan et al., 2019). However, business owners and managers face inventory challenges

with logistics and delivery for online sales. For example, the packing process of online

retail will be different from brick-and-mortar store sales. Online sales may involve

multiple small purchases, and there is a need for more flexibility regarding delivery hours

to satisfy customers. The online consumer purchase choice may increase sales, so

inventory managers should treat replenishment with exigency.

Replenishment Strategies. Retail managers use various replenishment techniques

to avoid stockouts and minimize inventory costs. Strategies include selecting the delivery

location for online sales and minimizing online costs (Paul et al., 2018). The optimum

inventory level for online inventory sales is sophisticated. So, managers should use best

estimates, such as sales over a given period (Angulo-Baca et al., 2020).

Alawneh and Zhang (2018) explored the efficiency of an inventory control model,

including an online sales model, an offline sales model, and a dual-channel warehouse

model. Retailers are starting to implement various strategies and may use all three

models. The online model is where the business owner seeks to avoid some overhead

costs and has no physical storefront. Managers owning physical stores cater to walk-in

customers and may have to cover costs such as wages, utilities, and lease payments.

Business owners can also allow customers to purchase online and pick up goods from a

physical store. By implementing a dual-channel warehouse model, business owners will

experience cost reductions in ordering costs, holding costs, backorder costs, and

reduction in carbon print (Alawneh & Zhang, 2018).

The model reduces the number of warehouses, and stakeholders can reduce the

carbon footprint, negatively affecting global warming (Li & Hai, 2019). The frequent

replenishment of stock and holding inventory increase the carbon footprint (Li & Hai,

2019). When there are charges or surtax for carbon footprint, business owners and

managers who continuously replenish stock will pay more tax than others with less

(Bouchery et al., 2017). Business owners can strive to implement policies and formulate

strategies to reduce the number of warehouses, decrease carbon emissions, and reduce the

payment of carbon tax (Li & Hai, 2019).

Business owners and managers can implement a joint replenishment strategy

where the inventory personnel who place several orders from usually a single supplier

may experience a decrease in costs. The cost savings will include ordering the goods,

holding stocks, and transportation costs (Otero-Palencia et al., 2019). The magnitude of

the cost savings varies depending on the strategy managers use. Business stakeholders

benefit from significant savings by placing several orders using a joint replenishment

strategy versus a single large order where business owners and managers experience

more considerable cash outlay. The transportation cost savings are realized by placing all

the orders in one run instead of preparing each order separately (Otero-Palencia et al.,

2019).

Another strategy is for business owners and managers to offer goods online and

allow customers to pick up orders at a store (Fan et al., 2019). An online retailer can enter

into a business agreement with an offline retailer to share revenue through an added

distribution channel. The strategy of allying with others benefits the retailers when the

market is specific (Fan et al., 2019). Inventory managers and business owners can use

strategies such as joint replenishment and offering goods online to help mitigate

uncertainty and other challenges.

Transition

Section 1 of the study included an introduction, the foundation of the study, the

background of the problem, the problem statement, the purpose statement, the nature of

the study, the research question, interview questions, and the conceptual framework. In

this study, I referenced the significant contribution to business practice and its

implications for social change. The section included operational definitions, assumptions,

and delimitations. The literature review supported the study results to explore inventory

management strategies that SMROSS business owners use to maintain sustainability. I

also included information from peer-reviewed studies and materials of authors in my

research to understand the concept.

In Section 2, I explained the researcher's role and the criteria I used to select the

participants for the study. The participants were owners or business managers from six

SMROSS businesses who have implemented inventory management strategies and

successfully maintained sustainability. In addition, I explained the research method,

research design, population and sampling, ethical research, data collection instruments,

data collection techniques, data organization techniques, data analysis, and reliability and

validity. In Section 3, I presented the data findings, the implication for social change, and

its application to business practice in inventory management.

Section 2: The Project

In Section 2, the focus of the discussion was on sections of the study, including

the role of the researcher, participants, research method, design, population, and

sampling. Section 2 includes discussions on ethical research, data collection instruments,

data collection techniques, data analysis, reliability, and validity. The purpose statement

is also a part of Section 2 and is a point of emphasis in the study.

Purpose Statement

The purpose of this qualitative multiple case study was to explore strategies

successful business owners of SMROSS use to manage inventory efficiently. The target

population comprised eight SMROSS business owners in Greater Toronto Area (GTA),

Canada, who have managed inventories efficiently. The social benefits of this study may

be SMROSS owners could use the results as a guide to understand business success and

create strategies that may lead to firms’ sustainability. Successful business owners could

benefit from higher profits that allow for community economic growth, decreased

unemployment, and a higher standard of living. Individuals could understand how to

become successful business owners and managers. Some owners and managers of

successful firms could contribute to charitable organizations, retain a workforce, and

reduce welfare costs.

Role of the Researcher

The role of the researcher was to conduct a study by collecting data using ethical

means (Bergen, 2019; Wesley, 2018). As the researcher, I guarded against bias as well as

preserved ethics. I mitigated bias in choosing the participants from office supply

businesses. Fusch and Ness (2015) advocated that researchers approach their study with

rigidity. The research process included interviews, recording, and collecting information

from inventory managers and business owners. I used tools such as keeping a personal

diary of my preferences, member checking, and methodological triangulation to mitigate

personal bias.

As a researcher, I followed The Belmont Report principles. The Belmont Report is

the guide on ethical principles regarding studies involving humans. The

Belmont Report includes ethical principles concerning respect for persons, beneficence,

and justice (Adashi et al., 2018). In conducting the study, I upheld the three ethical

principles of the Belmont Report by allowing voluntary participation, minimal harm to

participants, and equitable justice. To uphold the ethical requirement of The Belmont

Report, I maintained confidentiality in collecting participants' data and avoided

compromise during the research process.

I began my research after approval by Walden University Institutional Review

Board (IRB). I did not contact any prospective study participants until I received IRB

approval. I provided a consistent structure, such as an interview protocol (see Appendix

B, which is essential in qualitative research. Interview protocol is documentation of

structure that provides the steps the researcher will follow in the interview process.

Researchers can use the interview protocol to maintain consistency and reduce bias in the

interview process (Rosenthal, 2016; Yin, 2018). A clear audit trail of activities should

support validating information and control bias and preconceptions during the study (Van

de Wiel, 2017).

Participants

The participants were owners and managers of SMORSS in the GTA who

implemented successful inventory management strategies. The selection of participants

was an essential aspect that researchers used as a measurement of the validity of the study

(Rosenthal, 2016; Yin, 2018). When conducting a qualitative study, the researcher

gathers rich, in-depth data to validate the study's outcome (Rosenthal, 2016; Shepherd &

Suddaby, 2017). Researchers should select from the general population to identify and

specify traits of the target population (Asiamah et al., 2017; Boddy, 2016; Kline, 2017).

The participants had firsthand knowledge of inventory management in the business and

were willing to share relevant information for this study. The participants were

individuals who implemented strategies for forecasting demand, procurement, inventory

control, and replenishment.

After approval from IRB, I approached the eligible participants to request

interviews. I introduced myself to the participants in a letter as the researcher and

provided a list of interview questions, the informed consent form, and the study

description. Researchers can use telephones, emails, and in person communication to gain

access to participants (Yin, 2018). Maintaining a friendly rapport allowed me to build

trust and develop a good working relationship with the participants. To facilitate the

meetings, I formally introduced myself, provided a description of the study, and gave

participants the option to contact me if they accepted the invitation to participate. To

begin developing rapport with prospective participants immediately, I provided invitation

letters and invited questions or conversations about the study. The researcher's focus in a

study is to encourage the spirit of trust and respect between researcher and participant

through transparency (Wolgemuth et al., 2015). The voluntary informed consent of

participants was solicited through email communication and requesting the return of the

forms via the same medium. The emphasis on the informed consent form was essential to

the interview process as all the participants should be aware of the process and could

choose to decline to be a part of the study at any time (Marshall & Rossman, 2016). The

participants are owners or managers of SMROSS and meet the eligibility criteria

regarding the research topic.

After determining the eligibility criteria, the focus moved to discussing the

meeting date, venue, and details of the consent form with the participants. Informing the

participants of confidentiality requirements regarding collecting business data or

information can ensure researchers' access to relevant information (Boucher et al., 2017).

As a researcher, informing participants of the intention to protect their identities while

promoting a trusting relationship was critical to gathering information to increase study

credibility.

Research Method and Design

Research Method

For this study, I selected the qualitative multiple case study design to gain insight

into the inventory strategies owners, and managers of SMROSS may use to achieve

success and sustainability. Researchers using the qualitative method can better

understand a research problem by posing open-ended questions to the participants (Alase,

2017; Leedy et al., 2019). The information was from data collected using interviews and

observation of owners Masudin and managers of SMROSS. According to Houe and

Murphy (2017), researchers use qualitative research because of the need to gather

information on the activities and perceptions of individuals. Participants expressed their

inventory management strategies by discussing experiences. Therefore, the qualitative

method was ideal for understanding the successful strategies owners and managers of

SMROSS use.

The researcher uses a quantitative approach to use mathematical analysis and

comparisons to understand the research question (Barnham, 2015). Mixed methods

involve both qualitative and quantitative methods. Researchers who seek to gather in-

depth data and use mathematical or quantitative analysis to view a complete picture of a

study can use the mixed method (Gutterman & Fetters, 2018). The quantitative and

mixed approaches were not suitable because this study did not involve mathematical

comparisons or analysis.

Research Design

The ethnographic design was inappropriate as the study did not involve

individuals' beliefs, behavior, or cultural anthropology. Researchers use the ethnographic

design to study the beliefs, values, customs, and rituals that comprise the whole culture of

individuals (Darpatova-Hruzewicz & Book, 2021). Under ethnographic design, the

study's credibility depends on the researcher's ability to observe and accurately identify

participants and avoid bias (Marshall & Rossman, 2016).

The purpose of phenomenological design is to focus on the participants' lived

experiences (Alase, 2017). Researchers use the phenomenological design to explore the

lived experiences and the perception of study subjects (Alase, 2017). The

phenomenological design did not suit the study because the intent was not to obtain

individuals' perceptions about a phenomenon or describe the participants' lived

experiences.

Researchers use narrative design to examine and analyze participants' life stories

(Shanahan et al., 2018). The narrative design describes events and experiences in story

format (Shanahan et al., 2018). I did not use the narrative design because my study

purpose was not to explore and analyze participants' life stories in the study.

The case study design was appropriate for my study. Researchers use the design

when the intent is to gather in-depth information by asking open-ended questions about

the research problem (Villarreal Larrinaga, (2016). A single case study design represents

a single set of ideas not representative of a larger population (Yin, 2018). As the

researcher, I used the multiple case study design to gather in-depth information on a

sample representative of the population. Interviewing enough participants allowed me to

collect rich data and achieve data saturation.

I achieved data saturation when I collected data until there was no new

information and the data collection process became redundant. To increase the study's

rigor, validity, and reliability, researchers seek to achieve data saturation by gathering

relevant data (Fusch & Ness, 2015). Gathering enough rich information from multiple

participants was essential to replicating a study and reaching data saturation (Fusch &

Ness, 2015; Morse, 2015; Peterson, 2019; Saunders et al., 2017). In addition, I followed

an interview protocol, used open-ended questions, and ensured participants responded

with rich and relevant information to achieve consistency and facilitated data saturation.

Population and Sampling

The owners and managers of SMROSS who work with inventory management in

the businesses formed the study population. Researchers should choose participants based

on the participant's knowledge of the study topic (McCalman et al., 2017). The

participants were from GTA, possessed knowledge of inventory management and were

selected using purposeful sampling.

The selection criteria I used for the participants aligned with the population

sample size and strategies. Purposeful sampling is a nonrandom method that researchers

use to select the participant with the requirements of the research topic (Ames et al.,

2019). Researchers relate the criteria for selecting participants to the study topic

(Rosenthal, 2016). The sample consisted of eight business owners or managers of

SMROSS who have implemented successful inventory management strategies. The

number of participants represented the population as no new information surfaced after a

sufficient number was interviewed (Fusch & Ness, 2015; Yin, 2018).

The criteria I used to select the participants for participants were related to the

study topic. I used tried-and-true research methodology to define participant selection

criteria and subject selection, which would later facilitate the fulfillment of data

saturation for this study. Upon data saturation, sufficient information is collected and

analyzed to support the study topic (Hennink et al., 2017). I selected owners and

managers of SMROSS located in the (GTA) that have implemented strategies leading to

successful inventory management. According to Yin (2018), the reliability and validity of

researchers' outcomes are contingent upon the accuracy and truthfulness of information

from study participants. I chose knowledgeable owners and managers who could explain

their business success.

Ethical Research

Ethical considerations are essential aspects of a study. Ethical research involves

respecting the rights of individuals participating in the study and protecting confidential

data and information (Yin, 2018). The responsibility included explaining my

trustworthiness to each study subject and my willingness to maintain confidentiality to

protect the subject's identity and proprietary information. The Institutional Review Board

(IRB) at Walden approved the proposal before data collection from participants.

After IRB approval, I prepared the letters and consent forms for SMROSS

business owners and managers participating. On the day of the interview, I inquired if

participants understood that their participation was voluntary and informed study

participants that they may withdraw from the process at any time. Resnik (2015).

discussed the ability of participants to withdraw from engaging in a study without

justification. Researchers should not coerce participants to participate in a study (Patton,

2015). Participants could choose to leave the study after giving information, and I did not

coerce them. Participants used modes of communication such as email or telephone to

inform me of their decision. Participants did not need to give a reason for deciding not to

participate in the study.

Participants were not offered incentives to participate in the study. Participation in

the study was voluntary, and participants could decide to withdraw at any time without

penalty. Before signing the approved Informed Consent Form identified by IRB number

03-11-22-0635973, participants read and acknowledged protecting their privacy and

confidentiality.

The privacy of the participants was a critical requirement of the research process.

In qualitative research, the researcher should undertake confidentiality measures to

protect the information collected from participants (Ali et al., 2020). I reassured the

participants that data confidentiality and hidden identities with no mention of individual

names were in the study. Confidentiality is a means of added protection for participants. I

committed to protecting data such as emails and transcripts for 5 years.

All information regarding the interview and study was included in the informed

consent form to participants. Participants could look at the requirements in the informed

consent form and accept the participation terms (Creswell & Poth, 2018; Grady et al.,

2017). The standardized informed consent forms were provided to participants after first

contact. The participants reviewed, electronically signed and returned the forms via

email. Using interview questions, data collection techniques, and enforcing the

participants' choice to participate can ensure that the participants' moral rights are

protected (Surmiak, 2018).

The confidentiality rights of the participants are outlined in The Belmont Report.

Researchers should adopt proper security measures to secure documents and exchange

information (Wittenberg & Elings, 2017). To ensure the participants' privacy, the

identities of participants remained hidden by using codes. Pseudonym codes such as P1,

P2, P3, P4, and P5 were the identifiers for the participants. Researchers can maintain

confidentiality by using pseudonyms to conceal participants' identities and personal

information (Surmiak, 2018). The Belmont Report requires researchers to ensure that the

rights of participants are protected (National Commission for the Protection of Human

Subjects of Biomedical and Behavioral Research [NCPHSNNR], 1978).

I protected the information from the study to maintain the requirement of The

Belmont Report. Confidentiality of the data collected is critical to upholding ethical

standards and supporting the study's integrity (Petrova et al., 2014). The electronic data

on flash drives have password protection to protect the participants' confidentiality.

Storage of the hard copy and other physical documents, such as transcripts, are in a safe

with a code and no outside access. I commit to storing the data for 5 years. After 5 years,

I will permanently destroy the electronic and hardcopy and other documents as per

Walden University's requirement. Shredding documents, destroying flash drives and

disposing of the remnants will satisfy Walden's University requirements. The IRB

approval number for the study is 03-11-22-0635973.

Data Collection Instruments

I am the researcher, and as the primary data instrument, l focused on collecting

data to answer the research problem. The collection of quality data is essential for the

researcher to provide reliable and valid information for analysis in research (Yin, 2018).

For qualitative studies, researchers use semistructured interviews to gather in-depth

details with validity (Morse, 2015; Yin, 2018). I assumed the role of primary data

collection instrument for this qualitative study. I conducted semistructured interviews

using open-ended questions and member checking and examined corporate documents

such as Excel spreadsheets and inventory reports. I chose open-ended questions to probe

the participants and to ensure the interviews were adequate and consistent. I examined the

documents with the permission of the participants. The Excel spreadsheets and inventory

reports included inventory purchases and balances. I used the information from the

documents in the evolution of the theme development and confirmation of gleaned

interview data.

As the primary data collection instrument, I followed an interview protocol to

gather in-depth information. Researchers can use semistructured interviews to facilitate

the use of open-ended questions and allow for a full explanation of the experience by

participants (Heath et al., 2018). I asked each participant 10 open-ended questions as

listed in Appendix A and followed the interview protocol listed in Appendix B as

follows: (a) getting the participant's consent, (b) greeting the participant at the interview,

participants to record the interview, (e) request to look at policy documentation (f)

complete interview process and end recording (g) providing any explanation on member

checking, (h) asking for participants' concerns, (i) thanking the participants. I gathered in-

depth information and sifted through data to uncover relevant details on the study topic

by following the protocol. The six steps in the interview protocol consist of introduction,

study purpose, confidentiality, follow-up questions, interview, and wrap-up (Yin, 2018).

To maintain equity and consistency in gathering the data, I administer the same interview

protocol to each participant, asking the questions in the same order.

Researchers are responsible for informing participants of the duration of

interviews and member checking sessions. I helped to prepare subjects and guide their

expectations regarding the interview process by informing participants of the 45-minute

interview and approximate 30-minute follow-up member checking interview. The

participants can provide an in-depth explanation of inventory management in answers to

open-ended questions. Researchers can unearth comprehensive information through

semistructured interviews (Nel et al., 2018).

To gather the information from participants, I conducted interviews via Zoom. I

checked the video and audio settings before the interviews to confirm working

conditions. One advantage of conducting interviews in research is that the interviewer

can observe the body language of participants and ask follow-up questions to get

clarification (Bowden & Galindo-Gonzalez, 2015). Body language, such as facial

expressions and eye contact, may indicate the participant's comfort level or discomfort

with the interview questions (Yang, 2017). Using various interview platforms, the

interviewer can observe participants' body language.

I used the Zoom interview platform to gather information for the study. I ensured

the participant's name was hidden on the screen to protect privacy. After collecting the

data, I conducted a member checking session with participants to confirm the details of

the interview summaries to enhance the reliability and validity of the data. Researchers

can use instruments such as audio recorders and member checking to validate the data

they collect (Kern, 2018). A writer or researcher can ensure the reliability and validity of

the data the researcher collects using member checking (Morse, 2015). Researchers

optimize the reliability and validity of data by using rigorous data collection instruments.

I also examined secondary data sources, including company documents showing

inventory strategies implemented and policies and procedures relating to inventory

management. To get an in-depth understanding and confirm primary data from

interviews, I examined the participants' inventory management process. I gained an

understanding through the participants' answers to my open-ended questions, who were

my primary data source.

Data Collection Techniques

Before I began recruiting participants or collecting data, I achieved IRB approval

from Walden University to allow the commencement of field research. I contacted

participants to start the data collection process and provided each participant with the

informed consent form to request permission and follow the interview protocol. I used

semistructured interviews and asked probing open-ended questions. Researchers use

semistructured interviews to capture rich and in-depth data (Baines et al., 2018).

Researchers conduct activities such as interviews to collect data, members check the

interview summaries with participants, review company documents and record the

interviews (Rosenthal, 2016). After requesting documentation, I reviewed company

documents provided by participants via Zoom screen. I examined excel worksheets and

computer reports comprising suppliers, purchases, sales, and inventory balances. From

the company documents examined, I saw how the business owners relied on the

information to plan inventory purchases. I gained added insight as I compared the

information from company documents to interview summaries. I used the information

from interviews and company documents to develop the four emerging themes. I checked

to ensure the recording devices worked well and adhered to protocol during the interview

process. In addition, I used two devices, an iPhone, and an iPad, to ensure I captured the

data if one instrument should fail.

I conducted Zoom interviews with the participants to collect the data. Researchers

can use interviews to collect data for qualitative studies (Moser & Korstjens, 2018; Yin,

2018). I scheduled each interview after the participants agreed on the meeting times and

according to the interview protocol in Appendix B. Collecting data using interviews

allows the researcher to get an immediate response (Yang, 2017). As the interviewer, I

observed each subject’s body language and determined if the interviewee was trying to

avoid questions. The researchers can decide what questions need clarification by

observing the participants during the interview (Buschle et al., 2021). As well as using

the interview to compare with documentation, researchers can collect adequate data

during the interview process as participants have the freedom to answer at will (Heath et

al., 2018; Ilyushin & Azbel, 2017).

A participant’s reaction may appear as a disadvantage when participants fail to

answer or do not provide complete responses resulting from weak questioning (Groth &

Haslwanter, 2016; Yin, 2018). There is also the possibility of bias when interviewers fail

to ask complete open-ended questions to participants (Yin, 2018). However, the

researcher may ask follow-up questions to probe further when conducting face-to-face

interviews (Ilyushin & Azbel, 2017; Rosenthal, 2016). Member checking and transcript

reviews are essential factors in the data collection process. The member checking can be

conducted with participants to confirm the transcript reviews (Silverman, 2017).

Researchers recommend audio recordings to ensure that participants' views are captured

(Silverman, 2017). I conducted member checking to verify responses in the interview

summaries and support interpretation accuracy.

Confirmability of data is essential to writing accuracy (Korstjens & Moser, 2017).

To ensure that participants recall the member checking details, I emailed the review notes

to participants 5 days before the member checking meeting. The information did not

include a personal trace of the identity of any participants. After the interview, I also

asked participants for supporting documentation on inventory management policies to

validate and corroborate the data collected.

Data Organization Technique

As a researcher, I organized the data collected to allow for understanding. The

information I received from the interviewees was recorded and transcribed. I used Excel

worksheets to arrange the information and store on a memory stick. The physical

documents and the memory stick will be held in a locked safe for 5 years. The

information did not include a personal trace of the identity of any participants. I will

destroy electronic data, as well as physical data, by deleting electronic information and

shredding documents.

Researchers organize, analyze, categorize, rearrange, and evaluate the data when

conducting research (Yin, 2018). I used information gleaned from the company

documents reviewed as a basis for the data analysis and coding process. I collected and

coded the participants' information to allow access to the transcriber only and to protect

the identity of the participants. Four themes emerged from the analysis of the data in

interview notes and company documents. I assigned a unique code to determine the

classification of each participant's information. The analysis of the data began after

proper coding and classification. I could engage in interpretation and analysis by coding

the data without divulging the participants' personal information.

Data Analysis

I interpreted the data by reviewing inventory information on purchases, sales, and

storage and evaluating inventory interview data collected. Data analysis is an essential

process that researchers use to ensure the credibility of the study (Rosenthal, 2016). The

data in the report should be consistent and reliable, enhancing the study outcome's

viability (Rosenthal, 2016). The researcher can use more than one data collection method

to enrich the information and improve data validity (Abdalla et al., 2018). Phillippi and

Lauderdale (2018) recommend documenting information in qualitative research so

researchers can provide context to future scholars. Methodological triangulation in a case

study as a technique can also be beneficial as the process involves different bodies of

evidence (Kim & Kim, 2018). Researchers can use data triangulation and multiple source

connections to increase data validity (Foley et al., 2017). For methodological

triangulation, I used secondary data sources from company inventory, policy, and

procedure documents to corroborate the veracity of the study findings. I used

methodological triangulation as a tool to establish data reliability and validity.

Yin 2018 identifies a five-step model comparing the main themes with the

conceptual framework. In data analysis, researchers can follow the uniform data

collection process, data deconstruction, data reassembly, and data reconstruction and ask

the same questions in the same order (Yin, 2018). I documented the interviews, analyzed

the information recorded, and reviewed it for an initial understanding of the data.

I used NVivo software to identify and code similar themes between the sources.

Researchers can use NVivo software to determine the themes from multiple sources for

coding and organization in the data triangulation process (Wang et al., 2019). The step-

by-step process of data analysis is a path researchers use to gain insight into how the data

fits the conceptual study framework and published literature (Vaismoradi et al., 2016;

Yin, 2018). I reviewed company documents excel worksheets, and computer reports,

including purchases, sales and inventory balances provided by the participants. I analyzed

the participants' interview responses and compared the information in the company

documents. I compared the key themes, conceptual framework, and any current

publication relevant to the study to enhance the reliability and trustworthiness of my

findings.

Reliability and Validity

Credibility, dependability, transferability, and confirmability are valid and reliable

information characteristics. Researchers conduct the study in a manner that excludes

biases and involves gathering in-depth information (Assarroudi et al., 2018). The

information collected should meet the validation test using more than one means (Morse,

2015). findings of data collection and analysis. I also discuss how the study applied to

professional practice and the implications for social change—the discussions on my

reflections of experiences on conducting the study form a part of the content. By applying

rigorous validation procedures, I achieved meaningful, valid outcomes.

Reliability

Using reliable methods by the researcher ensures that the study is dependable. In

qualitative research, the outcome is reliable when the researcher can repeatedly arrive at

the same result while consistently using similar methods (Morse, 2015). Scholars

describe dependability as the process where researchers follow identical patterns of the

original researcher to arrive at the same outcome (Spiers et al., 2018). I used

methodological triangulation, member checking, and standard interview protocol to

ensure the study's findings were valid, dependable, and replicable. To further enhance the

dependability, I also triangulated the data from all the sources after coding and matching.

In addition, the participants' member checked the interview notes and asked the

interviewer questions to reduce the possibility of errors to increase the study's validity. I

aligned and compared the themes to the conceptual framework to show how business

leaders can use the results to succeed.

Validity

Researchers align validity with data that is transferable, confirmable, and credible

(Morse, 2015; Rosenthal, 2016). Researchers can use triangulation and member checking

to achieve validity and credibility (Abdalla et al., 2018; Cypress, 2017). I used the

information from the literature review, interview protocol, and member checking to

ensure the credibility of my study findings. Triangulation is a tool researchers use to

enhance the richness and rigor of qualitative case studies (Morse, 2015; Noble & Heale,

2019). A quality research paper involves the researcher gathering believable data to

ensure credible, transferable, and confirmable content.

Credibility. The study is credible when researchers produce believable work

(Marshall & Rossman, 2016). As a researcher, I member checked the interview results

with participants to engage participants' beliefs in the study. I had no previous

relationship with the potential participants and had no bias toward the data.

Administering the same interview protocol and standard for all participants is one way of

detecting participants' behavior and strengthening credibility.

Transferability. Researchers follow interview protocols to maintain structure and

consistency in data collection (Heydon & Powell, 2016). Transferability is the ability to

replicate the research findings in future studies (Cook et al., 2016; Moon et al., 2016).

Achieving transferability through rigorous research is critical to research confirmability

(Abdalla et al., 2018). To enhance transferability, I maintained details of interviews in

notes and company documents and employed member checking after the interview so

participants could verify and clarify the information in the interview summary. The

researcher produces a quality study that is reliable and valid when the work is proven to

be confirmable by participants (Moser & Korstjens, 2018).

Confirmability. Confirmability involves other researchers being able to replicate

the study (Haven & Grootel, 2019; Moon et al., 2016). Researchers can use

confirmability to measure accuracy and objectivity in research data (Abdalla et al., 2018;

Morse, 2015). As a researcher, I applied appropriate research methods to avoid bias and

enhance credibility and confidence in my work. Demonstrating confidence in the study

can be strengthened by confirmability (Moser & Korstjens, 2018). In addition, I followed

the interview protocol and did not meet the study participants before the interview date. I

analyzed the interview data for consistency and trustworthiness to provide a creditable

trail to support the findings.

Data saturation. I achieved data saturation to ensure the research results were

trustworthy. Data saturation occurs when the researcher can find no new information or

theme (Fusch & Ness, 2015; Saunders et al., 2017). I interviewed eight participants to

achieve data saturation in the sixth interview. Reaching data saturation indicates no new

themes, codes, or data collected from the interview participants.

Transition and Summary

In Section 2, I discussed how I followed ethical requirements to ensure the

confidentiality of participants and information. I also justified using the qualitative

research method and discussed the participants, the method of selection and the

participants' eligibility. I discussed the research sample and described my role as the

researcher. I also described my plan to gather data from selected participants. I discussed

methodological triangulation to enhance the validity and reliability of the information in

the study. In addition, I described data collection techniques and protocol and discussed

the plan's analysis to improve the information's reliability.

In Section 3, I presented the findings of data collection and analysis. I also

discussed how the study applied to professional practice and the implications for social

change and described my reflections. Section 3 also includes recommendations for

research to provide a basis for future researchers.

Section 3: Application to Professional Practice and Implications for Change

Introduction

The objective of this qualitative case study was to explore strategies successful

business owners of SMROSS used to manage inventory. I used purposeful sampling and

semistructured interviews to gather information from eight participants in the GTA

Canada. I interviewed eight owners of seven SMROSS in GTA Canada to gather data for

the study.

Each of the eight participants reviewed the informed consent forms and agreed to

participate in the study. Participants were interviewed, and after the interviews, I

provided the subjects with the interview summaries for member checking to validate the

accuracy of my interpretations. I used NVivo software to identify and extract patterns and

themes from the interviews of the participants and company documents showing

inventory strategies implemented and policies and procedures relating to inventory

management. The participants were assigned code names P1, P2, P3, P4, P5, P6, P7, and

P8. The data from each interview was analyzed, and some common themes emerged. The

themes are the strategies successful inventory managers in SMROSS use to control

inventory. The following themes emerged: (a) inventory management efficiency, (b)

nurturing of supply chain partner relationships, (c) using IT in inventory control, and (d)

responsiveness to customer demand. The participants were allowed to review the

interview summaries for validation in a member checking session. Next, I analyzed the

themes emerging from the data collected relating to inventory management strategies of

successful SMROSS business owners. As per the study findings, successful SMROSS

business owners implemented strategies to manage inventory efficiently by satisfying

customer needs to maintain sustainability.

Presentation of the Findings

The research question for this study was: What strategies do successful SMROSS

business owners use to manage inventory efficiently? I interviewed the eight owners of

seven SMROSS in the GTA Canada. I prepared interview summaries of the participants'

responses in a Word document. The participants validated the information in summary to

ensure correctness. In analyzing the data, I used a data driven approach to explore the

strategies successful SMROSS business owners used to manage inventory efficiently.

Participants shared documents via the Zoom Screen Share functionality in support

of some statements, but I could not review the documents in detail. I used the NVivo

software program to identify and link similarities in the data and manually reviewed the

data for redundancy, accuracy, and identification of themes. Combining this approach

with a multiple case study design, I gained an enhanced understanding of the phenomena

and the participants’ experiences. Following the coding process, four major themes

emerged, and themes and corresponding subthemes as discussed below.

Theme 1: Inventory Management Efficiency

The inventory strategy was the first theme that emerged as participants P1, P2, P3,

P4, P5, P6, P7, and P8 responded that they aim to maintain the level of inventory that

results in minimum costs. Inventory management is critical to sustainability, and retailers

must maintain the proper inventory to satisfy customer demand (Gupta & Ramachandran,

2021). Shokouhifar et al. (2021) opined the importance of implementing inventory

management strategies to minimize shortages. The participants kept track of inventory

balance and sales as a strategy to determine when to replenish. P1 and P4 noted that

because the business was small, both owners checked shelves and inventory in the

storage area daily to ensure adequate inventory was on hand to satisfy customers and

determine to reorder level. In addition, the participants P1, P4, P5, P6 and P8 used Excel

to record sales, purchases, and inventory balance, while P2, P3, and P7 used more

advanced software models. The participants' responses corresponded to the examination

of the documents examined. Participants described the processes maintained to ensure

timely purchases and the accuracy of inventory balances in their businesses. All Business

owners could use IT to manage inventory efficiently (Zohdi et al., 2022). By tracking

inventory movement, business leaders can determine when to purchase and the balance

on hand (Goltsos et al., 2021).

The participants focused on managing inventory effectively by documenting

purchases, sales, and balances. Business leaders maintain documents to ensure correct

inventory levels to satisfy customer demands and avoid stockout or excess stock (Gupta

& Ramachandran, 2021). The participants P1, P2, P3, P4, P5, P6, P7, and P8 provided

access to documentation for review on inventory policy and tracking. The documents I

examined were Excel spreadsheets for the participants P1, P4, P5, P6 and P8 print reports

for each participant P2, P3, and P7. From the excel spreadsheets of participants P1, P4,

P5, P6, and P8, I noted the practice of recording purchases, sales, and inventory ending

balances. I also noted purchases, sales and closing stock from the reports presented by

P2, P3, and P7. The participants made plans for future purchases by looking at the

balances on hand.

All the participants explained the importance of having a stock level where

storage cost is lowest while maintaining inventory to satisfy demand. The participants P1,

P2, P3, P4, P5, P6, P7, and P8 acknowledged the importance of eliminating stockouts and

excess stock levels. Participants P2, P3 and P7 stated they maintained a relationship with

the supplier where the goods could be shipped directly to customers. P2, P3, and P7

stated that there was no storage for drop shipped products, and cash was not tied up in

products unnecessarily. P2, P3, and P7 also stated that the inventory would not become

obsolete as the inventory was drop shipped to the customers and was not on shelves or in

storage. P2, P3 and P7 stated, “there were increased costs and a reduction in drop

shipment during COVID.” Alkahtani et al. (2021) explained how inventory costs could

increase during uncertainties and disasters as business owners implement strategies to

manage losses and remain sustainable. Some drop shipment suppliers had difficulty

accessing stock which led to P2, P3, and P7 purchasing from other suppliers and

delivering to customers at increased costs for storage and shipping.

Retailers can make bulk purchases to reduce shipping expenses in business and

increase profit margins (Zohdi et al., 2022). Participants P1, P2, P3, P4, P5, P6, P7, and

P8 explained the process of purchasing the maximum required by the supplier in most

instances to reduce or eliminate freight and shipping costs and keep storage costs low. In

addition, P1 and P4 stated that most suppliers are nearby and use the pickup option to

reduce shipping costs. P2, P3, P5, P6, P7, and P8 noted the use of the pickup option for

some products since COVID because of the extended shipping time.

The participants sold inventory that large established office supply companies

carried, and these large companies would be able to make large purchases at lower costs.

However, the participants maintained that focusing on customer needs and requests was

key to sustainability. P1 and P4 stated that they operated in a mall and facilitated requests

by other business owners in the mall by stocking the items requested. In addition, new

item requests from walk-in customers were also purchased for resale. All the participants

stated that they had several repeat customers and therefore ensured the stock availability

to satisfy the demand while maintaining a lean inventory policy.

To adopt a lean inventory policy, business leaders should plan and forecast

inventory demand (Becerra et al., 2022). All the participants maintained that they used a

lean inventory strategy to reduce costs and satisfy customer demands. P1, P2, P3, P4, P5,

P6, P7, and P8 asserted that maintaining the right inventory level was critical to

minimizing costs as some products had low margins. The participants stated they would

not miss out on sales by having the optimal level where there is no overage or stockouts.

All the participants acknowledged that sales on some inventory used for both office and

school would increase during seasonal periods such as September and December. All the

participants indicated the importance of monitoring seasonal patterns to obtain

knowledge of customer demand and to follow sales trends.

The strategy was to purchase more office supplies in June and November to

ensure the stock level was adequate during the summer and December. Students would

make their purchases in the summer and December for back to school in September and

January. The participants expressed increased online purchases during the COVID-19

pandemic as more parents and their kids were at home.

Business leaders adjusted inventory management strategies and forecasts to

account for uncertainties during the COVID-19 pandemic (Villalobos-Madriz et al.,

2022). Participants stated they adopted new inventory strategies during COVID-19 to

maintain sustainability. Strategies include purchasing from new suppliers, special

customer deliveries, and regular pick-up from some suppliers. Also, forecasting demand

by communicating with some customers was necessary to keep sufficient inventory. The

participants also explained how they market the products on their websites and platforms

like Facebook.

From the secondary documents examined, I confirmed the statements made by

participants P2, P3, and P7 regarding the drop shipment of goods to customers. I

reviewed Excel spreadsheets and computer reports and confirmed the argument

participants on bulk purchases as some large purchases. From the company documents, I

noted some large purchases from some suppliers.

Table 1

Theme 1 Inventory Management Efficiency

Factors of Inventory Management

Efficiency

Participants

Checked Shelves Manually

Used Excel Spreadsheets

Used More Advance Software Tools

Drop Shipment Strategy

Bulk Purchase Strategy

The inventory management efficiency theme aligns with Fielder's 1964

contingency framework and Prasad's 1994 inventory control modeling. The participants

adjusted their inventory strategy depending on the situation. The participants documented

purchases and sales and maintained stock balances in Excel spreadsheets and reports.

Participants forecasted seasonal product demand for September and January based on the

market for the periods in the previous year. Business leaders could use Fielder’s

conceptual framework and Prasad’s inventory control modeling to plan inventory

balances based on need. Inventory modeling is based on the business owner

implementing the model that best suits the business. The findings aligned with inventory

modeling as the study participants used different models to address inventory.

In addition, the finding of this study aligned with existing literature on effective

inventory strategies. Planning the correct inventory balance to match demand is aligned

with several peer-reviewed studies (Liberopoulos & Deligiannis, 2021; Xin & Goldberg,

2022). The participants P1, P2, P3, P4, P5, P6, P7, and P8 acknowledged that following

best practices relating to inventory replenishment might result in lower costs and

increased profits. The supply chain is one channel inventory managers can use as an

inventory management strategy.

Theme 2: Nurturing of Supply Chain Partner Relationships

All the participants P1, P2, P3, P4, P5, P6, P7, and P8 opined on the importance

of having a relationship with suppliers. Retailers and suppliers should form business

relationships to support sales and inventory replenishment (Tarigan et al., 2021).

Participants P1, P2, P3, P4, P5, P6, P7, and P8 stated that “the aim was to build

relationships with suppliers over time to negotiate discounts and freight charges.” The

participants P1, P2, P3, P4, P5, P6, P7, and P8 also spoke on the importance of

purchasing the minimum purchase that qualifies as a bulk purchase to ensure reduced

shipping and freight costs. Suppliers offer lower prices to retailers when they buy in bulk,

and transportation and shipping are also reduced (Ji et al., 2022). P2, P3 and P7 discussed

the period before the COVID-19 pandemic when the demand for office supplies and the

drop shipment agreement with suppliers was higher. However, the dynamics changed

when the office workers worked from home, and there was no need to drop ship. P2, P3

and P7 could eliminate storage costs as the items were shipped to the customers as

needed and would not end up on the shelves of the participants.

Participants P1, P2, P3, P4, P5, P6, P7, and P8, explained the importance of

fostering collaboration with suppliers. For example, more frequent communication can be

beneficial so that suppliers know how much stock the office supply stores will need

according to each season. As Venegas and Ventura (2018) posited, adequate, two-way

communication between retailers and suppliers benefits both parties and mitigates out-of-

stock situations and overstocking of inventory. P2 and P3 stated, “during COVID, some

items were in short supply and so had to seek to make adequate purchases to ensure a

sufficient stock to satisfy customer demand.” Participants P1, P4, P5, P6, P7 and P8 also

communicated to suppliers via email and telephone to ensure no delivery issues. The

participants also communicated with multiple suppliers to avoid interference in supplies

to customers.

The participants P1, P2, P3, P4, P5, P6, P7, and P8 explained the need to use

various suppliers to source some items demanded by customers. Retailers can implement

the strategy of having multiple suppliers to mitigate supply chain disruptions. Disruptions

in the supply chain could outweigh the benefits of solid relationships using a single

supplier (Namdar et al., 2018). Business owners may need to use several suppliers to

avoid customers moving to other retailers because of dissatisfaction (Namdar et al.,

2018).

In situations when the supply chain is interrupted and products are scarce (e.g.,

during a pandemic such as COVID-19), participants P1, P2, P3, P4, P5, P6, P7, and P8

stated that despite higher costs, purchasing from a new supplier enabled them to satisfy

their customers. The experience of increasing prices and administrative expenses was a

global effect resulting from COVID-19 (Burdenko & Shchepetov, 2021). To avoid long

wait times at regular suppliers, business owners purchased items from new suppliers. All

the participants maintained that business owners had to utilize multiple supply bases to

mitigate disruption in the supply chain. Fan et al. (2019) posited the benefits of using

multiple suppliers to reduce supply chain disruptions. All the participants stated that

customer satisfaction was the primary consideration in inventory procurement, which

may mean trying several suppliers if the primary supplier is out of stock.

From the excel sheet provided by participants P1, P4, P5, P6, and P8, I observed

the names of several suppliers. I also observed multiple suppliers’ names in the report

sheets presented by participants P2, P3, and P7. Business leaders may use multiple

suppliers to mitigate the possibility of supply shortages and satisfy customers’ demands

(Fan et al., 2019). The participants explained how sourcing products from multiple for the

strategy relied on purchasing products during the COVID-19 pandemic.

Observing the Excel spreadsheet documents shown by the participants, I

determined alignment with the analysis of interview data. The documents include

purchases, sales, inventory balances, freight information on purchases, the price of the

products before discounts, discounts, and the ending prices. I noted the end prices after

discounts confirming the participants' statements on cost savings.

Table 2

Theme 2 Nurturing Supply Chain Partnership

Supply Chain Relationship

Participants

Freights & Discounts

Drop Shipment Agreements

Communication with Supplies

Email & Telephone Communication

Consistent with contingency theory, participants preserved flexible thinking to

procure inventory from secondary suppliers. Participants were able to fulfill customer

needs with a prompt and responsive inventory adjustment approach. Das (2018) posited

that supplier flexibility was a factor that disrupted the supplier chain.

The findings also support inventory control modeling as the participants P1, P2,

P3, P4, P5, P6, P7, and P8 all opted to use inventory models suited to their situation. Saha

and Bhattacharya (2020) suggested that choosing an effective inventory model is

essential for business profitability. The option to purchase from several suppliers allows

inventory managers to create new models when necessary. The lists of suppliers were

also documented for access when required. All the participants stated they sourced

products from other suppliers when they could not get the goods from the usual source.

The research findings also align with existing literature. Ali et al. (2017)

postulated the benefit of a resilient supply chain using multiple vendors. In addition,

Seifert et al. (2017) opined that business owners could be afforded flexibility by using

multiple suppliers. Inventory managers could also use IT as a flexible tool to

communicate quickly with various suppliers to make purchases and enquiries.

Theme 3: Using Information Technology in Inventory Control

All participants implemented an IT strategy to determine purchases, sales, and

stock on hand. Most participants used simple Excel worksheets, while others used more

advanced software tools. P2, P3, and P7 had software tools to produce reports on

purchases, sales, and closing inventory. P1, P4, P5, P6, and P8 used Excel and manually

input data. However, the participants' use of features such as count and sum in Excel

allowed for estimates of stock level. IT can be used in inventory management to share

information with suppliers, maintain accurate inventory, improve customer service, and

reduce inventory costs (Tian & Wang, 2022). All the participants agreed that using IT

could enhance business operations. P1, P4, P5, P6 and P8 suggested that since the

business size was small, there was no need to fix the process unless the business

expanded. However, some researchers have opined that spreadsheets may not benefit

business owners who could use more robust IT tools to track inventory (Tarigan et al.,

2021). However, participants P1, P4, P5, P6, and P8 had access to spreadsheet inventory

performance information.

Observing the spreadsheet documents shown by participants P1, P4, P5, P6, and

P8 and the reports from P2, P3, and P7, I recognized the process of tracking purchases

and sales and maintaining balances to use as the forecast for future purchases. Retailers

use forecasting to determine accurate demand trends (Nikolopoulos et al., 2020). The

participants explained the risks of not maintaining the documents. The participants

determined the main threat as timely purchase orders.

By placing orders using IT tools, inventory managers can track goods from the

order stage to delivery. Retailers desire access to inventory performance information

necessary for retailers to track and make timely orders (Ishfaq et al., 2021). Inventory

managers can use delivery information to plan future inventory requirements. Business

owners increased their IT usage during the COVID-19 pandemic to engage suppliers and

customers (Rangarajan et al., 2021).

IT is used by society in many circumstances. Government leaders mandated

restrictions worldwide because of the impact of COVID-19 on the population’s health

(Fairlie, 2020). During the COVID-19 pandemic, the participants explained the increased

use of emailing to some suppliers and customers. Business owners used the customers'

email addresses to receive electronic copies of receipts to reduce physical contact during

COVID restrictions. Participants utilized electronic screens to inform customers of the

need to wear masks and maintain social distancing during the COVID-19 pandemic. To

increase customer appeal and build business market share, leaders can communicate with

multiple customers using social media (Hayes, 2020).

Business leaders may conduct business using several IT communications tools.

Social media is a tool business leaders can use to communicate with many individuals on

the platforms (Cartwright et al., 2021b). Platforms such as Facebook and Instagram were

used by some participants to advertise their products to potential customers and to

communicate new product information to existing customers. P2, P3 and P7 used their

websites to showcase the products, while P1, P4, P5, P6 and P8 used Facebook to run

advertisements. P1 also used the physical store as the primary advertisement stage by

arranging the products by similarity for easy customer access. In addition, P5

occasionally used Instagram by sharing pictures of items sold in the store. The websites

of P2, P3, and P7 included product advertisements and the option to search for products,

view the products, and learn additional product information. The customers could also

access information on monthly promotions and specials on store websites. The

participants explained that using social platforms during slower periods drives sales.

I confirmed the use of advanced software tools for participants P2, P3 and P7 as I

examined the computer reports showing purchases, sales, discounts, freight, and

inventory balance. As per the interview, participants P1, P4, P5, P6, and P8 used Excel

spreadsheets, while participants P2, P3, and P5 used advanced computer software tools to

maintain inventory. From the secondary documents examined, I confirmed the

information as per the interview data. I concluded that the participants used Excel and

computer software to determine inventory balance and time of purchase. I determined

that the participants used Facebook pages and websites to promote products and inform

customers and potential customers.

Table 3

Theme 3 Using Information Technology in Inventory Control

Information Technology Tools

Participants

Use of Advance Software Tools

Use of Excel Spreadsheets

Using Websites

Using Social Platforms

Using technology in inventory management, Theme 3 aligns with the conceptual

framework contingency theory and inventory control modeling used in this study.

Participants implemented various IT strategies to manage inventory to align with the

framework and used platforms best suited for business success to align with inventory

control modeling. The participants documented pertinent information using IT tools such

as Excel spreadsheets and more advanced software models. Puspitawati (2021) postulated

that users of IT do not use the resources to the same extent, and users could implement IT

structures to match the business model and situation. Under contingency theory, the

leader implements strategies based on the case, and strategy could change if the situation

changes. The participants P1, P2, P3, P4, P5, P6, P7, and P8 used online platforms,

especially during slow periods, to ensure the business could operate optimally.

Participants P2, P3 and P7, used websites, and participants P1, P4, P5, P6, and P8

negotiated social platforms to attract new customers and alert loyal customers to new

deals. During slow periods to increase customer awareness and drive sales, business

owners sustained operations by modifying and intensifying social media strategies. Here

the participants employed P1, P4, P5, P6, and P8 and explained how they used Facebook

presence to keep loyal customers aware of product availability and how potential

customers became aware of product opportunities. By adopting varying levels of online

presence, the participants created inventory models best suited to the situation. The

participants explained how customers on Facebook could become followers and share

information with other users on the platform. P2, P3, and P7 explained the use of

websites to maintain customer loyalty by offering new products, providing product

information, and allowing customers to chat to discuss any additional details if necessary.

The theme IT in inventory management also aligns with current and past literature

reviews. Business leaders use IT to operate efficiently and track inventory balances to

maintain the correct stock level at minimal cost (Beheshti et al., 2020). Business owners

who use IT tools to support the correct stock level can satisfy customers’ demands and

create lasting relationships (Obermayer et al., 2021).

Theme 4: Responsiveness to Customer Demand

All eight participants discussed the importance of satisfying the customers'

demands. To ensure continuity, business operators must create a relationship where

customers are satisfied (Itani et al., 2020). The participants listened to the customers and

source new products to satisfy demand. The participants used previous years' data to

forecast consumer needs during seasonal periods. Accurate forecasting is necessary to

determine future demand (Nikolopoulos et al., 2020). The participants P1, P2, P3, P4, P5,

P6, P7, and P8 acknowledged how customers' expectations were essential factors in

business and remained competitive and maintained customer loyalty by satisfying

customers' demands. Arslan (2020) posited the need to satisfy customer needs to achieve

loyalty, maintain competitiveness, and remain sustainable. P1, P4, P5 and P8 stated that

they access items when customers enquire about products not carried on shelves to fulfill

customers' demands. P2, P3, P7 and P8 stated that “it was critical to understand

customers' needs.” “Serving the same customers for some time helps with being proactive

in fulfilling demand.”

Using the information in the documents to forecast purchases, the participants

could promptly purchase the stock required. Implementing the right inventory strategies

based on knowledge of customer needs can lead to more efficient forecasting and the

ability to avoid excessive inventory levels or stockouts (Rehmani et al., 2021). The

participants maintained that understanding the customers' needs and knowing high and

low demand periods is key to determining inventory levels. All the participants spoke

about the importance of satisfying customer needs, maintaining good customer

relationships, and optimizing profits. Participant P1 stated, “The pandemic is rough, and

several businesses are closed, so the opportunity to serve is a privilege.” The participants

mentioned customer satisfaction, customer discounts, loyalty and business continuity.

The participants could satisfy customer demands, minimize costs, and increase profits by

implementing effective inventory strategies to maintain competitiveness.

Included in the secondary data reviewed were some unique purchases. Leaders

purchased items such as business cards for some customers as specific requests. From the

documents, I confirmed the participants' actions in acknowledging and understanding

each customer’s needs.

Table 4

Theme 4 Responsiveness to Customer Demand

Response To Customer Demands

Participants

Acknowledgement of Customer

Expectations

Accessing Items based on Customer

Inquiry

Understanding Customer Needs

The theme of responsiveness to customers' demands aligns with the contingency

framework and inventory control modeling. Fielder (1964) postulated that leaders could

change styles to match situations and attain success. Prasad (1994) supported managers in

selecting inventory models suitable for operating conditions and requirements. The

participants adjusted inventory strategies to satisfy customers' demands by maintaining

the level of stock and variety, and as per Fielder’s contingency theory, strategies changed

depending on the situation. The participants responded to customer needs using

documented information in excel and printed reports to plan future purchases. The study

also tied in with Prasad’s inventory control modeling as participants identified the model

required to satisfy customers’ demands. The findings aligned with existing studies on

inventory management with responses to customers. Inventory managers are effective

when customer needs are satisfied (Nirmala et al., 2021).

Most business owners thrive on catering to customers' needs. Scholars expressed

the importance of understanding and addressing customers' needs when conducting

business (Rintamäki & Saarijärvi, 2021). All eight participants discussed the importance

of satisfying the customers' demands. Without the customers, business owners would fail;

therefore, the study findings apply to sustainability.

Applications to Professional Practice

The study findings apply to SMROSS owners who wish to implement strategies

to manage inventory effectively. The purpose of this qualitative multiply case study was

to explore strategies successful business leaders of SMROSS used to manage inventory

efficiently. SMROSS owners could use the information presented in the study to improve

inventory management strategies, thereby increasing business profitability. SMROSS

inventory managers could experience success with a focus on the following themes

identified: (a) inventory management efficiency, (b) nurturing of supply chain partner

relationships, (c) using IT in inventory control, and (d) responsiveness to customer

demand.

Inventory managers can use the themes to support improving strategies and

mitigate operational disruptions. SMROSS business leaders can use the inventory theme

to ensure the correct stock level is on hand. Furthermore, inventory managers can satisfy

customer demand more effectively when collaborating with the supply chain (Zaid et al.,

2021). Nurturing supply chain partner relationships is a strategy that business owners can

use in inventory control to avoid stockout and maintain customer niche (Smith et al.,

2021). Technology is also vital in business as leaders can use various platforms to

communicate, highlight products, and attract new customers (Varadarajan et al., 2022).

By responding to customers’ demands, business owners could maintain business

sustainability and customer loyalty.

The study results could apply to some SMROSS leaders seeking to maintain

business continuity. Managing inventory can be challenging for many business owners as

inventory managers need to understand the strategies to implement to remain competitive

(De Sousa et al., 2021). By adopting the themes identified in the study, business owners

could implement strategies necessary for competitiveness and sustainability. The

resilience of some business owners surviving the COVID-19 pandemic aligns with the

strategy mentioned in the study, as retailers changed their operation plans to mitigate the

impact of COVID-19. SMROSS owners changed plans to ensure no overstock or

stockout during COVID-19 (Runfola et al., 2021).

Business owners can use assets more effectively by not holding excessive stock or

depleting cash. The themes could guide to following reasonable business practices to

avoid stockouts and satisfy customer demands. SMROSS business leaders could use the

results to fill gaps in knowledge about effective inventory management strategies.

Business leaders can create competitive strategies to withstand difficult economic

climates and maintain stability. Owners and managers should be able to create new or

adjust existing business strategies to achieve optimum returns in instances such as a

pandemic. Inventory managers could maintain adequate cash flow to increase business

sustainability by using the study findings and keeping track of inventory to ensure the

correct level.

Implications for Social Change

Inventory management is the tool business leaders use to determine the stock

level necessary to satisfy customer demand. Customer loyalty develops when consumer

needs are consistently met, increasing the customer base. Business owners and managers

should be aware of the possibility of events disrupting the flow of products and the

possibility of accumulating excess inventory that may become obsolete. Consequently,

inventory managers can implement strategies to enhance business sustainability and

increase employment (Wong & Ngai, 2021). SMROSS business owners could use the

findings to improve business strategies and respond quickly to disruptions to enable

business sustainability.

As the owners of SMROSS businesses listen to customers and satisfy customer

demands, customer service and profitability can also improve. The financial results of

maintaining a competitive business are the benefits of reduced stockouts on customers.

By managing inventory efficiently, business owners create customer loyalty, reduce

costs, and pass cost reductions on to customers, leading to growth and business continuity

(Arslan, 2020). In addition, employment growth could result in lower welfare costs and

citizens leading dignified lifestyles (Ravallion, 2019).

Business leaders should adjust strategies to minimize costs and achieve long term

sustainability. Using the findings from this study, I can advise on inventory management,

cost reduction and increased cash flow. With improved cash flows, SMROSS owners

could invest in store expansions and provide more jobs for people in the community.

Also, when business leaders achieve long term sustainability, employees' jobs are more

stable, leading to prosperity in the community. The social benefits of this study are that

SMROSS owners could implement inventory management strategies to increase business

sustainability, which could result in employment and the provision of necessary business

and educational supplies for citizens of the local community. Individuals contribute to

charitable organizations to ensure life improvement for others facing difficult situations

(Hafenbrack et al., 2020). Residents experiencing a prosperous lifestyle may pay more in

taxes. Government officials could use the tax revenues to fund infrastructure and develop

social and economic programs in the community.

Recommendation for Action

The purpose of this study was to explore strategies successful business owners of

SMROSS use to manage inventory efficiently. Successful SMROSS owners could

implement strategies, maintain the correct stock level, and satisfy customer demand to

enhance business survival. The strategies identified from the themes of the study are

relevant to success in inventory management and business continuity. Fan et al. (2021)

posited the importance of maintaining correct inventory levels, communicating with

suppliers, and utilizing IT and customer satisfaction as strategies to enhance inventory

management and support sustainability.

SMROSS business owners in other geographic locations in Canada could find the

study findings helpful for enhancing business sustainability and ensuring success. The

study participants implemented strategies to mitigate the effect of the COVID-19

pandemic and to ensure continuity in business operations for the foreseeable future. The

leaders’ strategies were successful as the businesses remained in existence while some

other small businesses did not survive.

I recommend that business owners maintain a level of stock that allows for

minimum working capital and avoid failure. Business leaders could consider building

relationships with multiple suppliers to mitigate supply chain disruptions. Business

owners could also attempt price negotiations to lower costs, pass some cost reductions to

customers and increase profits. Inventory managers should use IT to identify inventory,

show reorders level, and provide forecasting opportunities. Some participants added

inventory, such as masks, gloves, and hand sanitizers, during the COVID-19 pandemic.

Therefore, identifying new business opportunities should be a strategy used by business

operators to mitigate market uncertainties. Another strategy recommended is offering

customers alternatives if the required product is unavailable.

The study findings could benefit other SMROSS owners to improve strategies to

maintain business sustainability and add to the body of research on inventory

management. In addition, business owners in similar industries could use the results to

implement strategies to improve inventory management. I will disseminate the

information from the study findings through forums such as conferences, workshops,

training seminars, and other business forums so interested stakeholders can have access.

Recommendation for Further Research

In this study, I explored the strategies successful business owners of SMROSS

used to manage inventory efficiently. The study population was limited to SMROSS

owners in GTA Canada. I recommend expanding the study to cover other provinces and

territories in Canada, as culture and demographics may differ. SMROSS business owners

in different regions of Canada, where the culture and demographics are similar, may

benefit from using the strategies implemented by the study participants.

I also recommend interviewing employees and customers in future research,

which I did not include in the study. Future researchers may glean information from

interviewing employees and customers that SMROSS owners could use to implement

bolder inventory strategies. In addition, conducting a similar study of other business types

and comparing the findings is also an option for future researchers.

Reflections

The process of finding participants to agree to take part in the study was tedious.

The interview process was engaging, and each participant agreed to participate in the

study. I was unaware of the strategies SMROSS owners used to manage inventory, and

now, after the interviews, I understand the process.

I conducted interviews, collected all the data, and completed member checking

before analyzing the data and achieving saturation. After data saturation, I validated the

study findings by interviewing more subjects. The doctoral research experience was

challenging, and the results were fulfilling. Knowing the benefits of inventory

management to business leaders is practical information I can add to academic research.

Conclusion

In this study, I explored inventory strategies successful SMROSS owners

implemented to achieve efficiency. Using purposeful sampling, I identified the eight

participants in the study. Four themes emerged from the participants and are presented in

the study. The themes were inventory management efficiency, nurturing of supply chain

relationships, using IT in inventory control, and responsiveness to customer demand.

I concluded that the business owners in this study implemented strategies to

reduce costs, avoid stockouts, and maintain the correct stock level. The conclusions align

with interviews of participants and a review of information on websites. SMROSS

leaders could use the findings from this study to implement effective inventory strategies,

augment corroboration with supply chain partners, implement and maintain the latest IT,

increase responsiveness to customer demands, and improve profitability.

References

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