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Project Idea: Store Inventory Management System Problem Statement: Retail stores around the world are having difficulty managing their inventory, resulting in overstocking and under stocking of...

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Project Idea: Store Inventory Management System
Problem Statement: Retail stores around the world are having difficulty managing their inventory, resulting in overstocking and under stocking of products. They need a system that can help them keep track of their inventory levels, order history, and sales data, so they can make informed decisions about when to order more products and how much to order. Our goal is to present a Web-based Application system that can help companies keep track of inventory at all times to avoid this problem.
Project Management Techniques/Strategies: Agile project management, scope management, risk management, stakeholder management, project scheduling, cost estimation, Quality Management.
Chapter 1: Project Management Framework
Framework: Pruthul Patel
Feasibility Analysis: Jill Shah
Project Management Framework
A project management framework includes several core processes, including scope management, cost management, time management, quality management, risk management, and stakeholder management. These processes are essential for ensuring project success, and they are typically applied throughout the project life cycle. A project management framework is a set of processes, principles, and guidelines that provide a structured approach to managing projects. A typical project management framework consists of five main phases:
1. Initiation: This phase involves defining the project objectives, determining the project scope, and identifying stakeholders. The project manager is appointed, and the initial project plan is developed.
2. Planning: In this phase, the project team develops a comprehensive project plan that outlines the project schedule, budget, scope, and resources required. The team identifies risks and develops a risk management plan.
3. Execution: In this phase, the project plan is put into action, and the project team executes the project activities according to the plan. The project manager monitors progress and manages any changes to the plan.
4. Monitoring and Controlling: In this phase, the project team monitors project progress, identifies variances from the plan, and implements co
ective actions. This phase ensures that the project remains on track, within budget, and on schedule.
5. Closure: This phase involves formally closing out the project, completing final tasks, and obtaining project sign-off from stakeholders. The team conducts a project evaluation to identify areas of improvement for future projects.
Project Integration Management is a critical process that ensures all project components are properly coordinated and integrated to meet project goals and objectives. We as a team have been able to propose a detailed plan to efficiently monitor the inventory of retail stores. We are naming this application “InTrack'' which in simple terms means what the store has “in” refe
ing to overstock materials with them and what they need to order “in” refe
ing to understock materialsThe problem describes a common issue faced by retail stores worldwide - difficulty in managing their inventory. 
To address the problem, the PMP framework can be utilized with the following project management techniques/strategies:
1. Agile project management: An Agile approach can be used to quickly develop and test the system, enabling the store to receive rapid feedback and make adjustments as needed. This methodology can be used to iteratively refine the system, with constant collaboration between the development team and the stakeholders.
2. Scope management: To effectively manage the project scope, a clear understanding of the inventory management requirements and objectives must be defined. The scope can then be
oken down into smaller, manageable components and delivered in iterative sprints using Agile methodology. The stakeholders should be involved in defining the scope and continuously reviewing and approving the work performed.
3. Risk management: Identifying and mitigating project risks is critical to ensure successful project delivery. Risk assessments should be performed regularly and appropriate risk response strategies developed and implemented.
4. Stakeholder management: Identifying and managing stakeholders is essential to ensure their needs and expectations are met. Effective communication with stakeholders will be critical to ensure the success of the project. Regular status updates, progress reports and demos will be shared with stakeholders to ensure their expectations are aligned with the project's progress.
5. Project scheduling: A project schedule should be developed, outlining key milestones, deliverables, and timelines. Using an Agile approach, the project schedule should be reviewed and adjusted as needed at the end of each sprint.
6. Cost estimation: Accurate cost estimation and budget management is essential for project success. The cost estimate should include development, testing, and deployment of the system, as well as maintenance and support. The project team should regularly monitor actual costs against the budget and take co
ective actions as necessary.
By utilizing the PMP framework with the above project management techniques/strategies, the retail store can improve its inventory management and make informed decisions about when and how much to order, resulting in better control of their inventory levels and increased sales.
Chapter 2: Stakeholders and Scope Management
Scope Management: Sharad Patel
Stakeholders: Shanu A
ol
Scope Management Plan
    
Retail stores around the world are having difficulty managing their inventory, resulting in overstocking and under stocking of products. They need a system that can help them keep track of their inventory levels, order history, and sales data, so they can make informed decisions about when to order more products and how much to order. Our goal is to present a Web-based Application system that can help companies keep track of their inventory at all times to avoid this problem. Intrack will be able to track companies cu
ent inventory, log sales, based on sales and inventory reaching a certain number, and order is automatically placed for the product in question.
Acceptance/Use Cases:
1. App will provide an interactive front-end User Interface that will collect stores cu
ent inventory, sales of day.
2. App will provide store managers with an overview of items sold that day and remaining inventory.
3. Based on previous sale history and cu
ent inventory, the app will suggest the optimal number of items to order for next time.
Deliverables:
1. Front-end Web Application.
2. Back-end Inventory Database.
3. Sales and Inventory based Algorithm to suggest order.
Assumptions:
1. All electronic resources are available for us to access at all times.
2. All development staff will be present for the duration of the project.
3. Application hosted on AWS based system. 
4. Stores will provide Databases of their cu
ent inventory.
5. Funding will be available for all expenses, including salaries and technology costs. 
Constraints:
1. We
Cloud based.
2. Deadline as per stakeholder requirements XXXXXXXXXXmonths)
3. Budget of $100,000. 
4. Mandatory 2 quality checks per month.
Work Breakdown Structure:
                     Web-Application
1. Front-End 
a. Home Login Page
a. Inventory Input 
a. Sale History Input
a. Order Suggestion Page 
a. Product Order Page
2. Back-end Inventory Database
. Oracle Enterprise Database / MS-Access / MySQL/ SQLite 
. Input taken from Front-end Inventory/Sales Input Page    
. Provide data to order suggestion algorithm
3. Order Suggestion Algorithm
c. Input from Inventory Database
c. Process the data using the inventory and sales history
c. Predict the order suggestion.
Milestones:
1. Requirements Gathering 
2. Front-End development
. Build Login, Inventory and Sale History Input Pages.
. Build Order Suggestion and Product Order Page.
3. Back-End Inventory Database
c. Build Database to take input from Front-End
c. Output Inventory Data to Suggestion Algorithm
4. Order Suggestion Algorithm
d. Take input from the inventory database and process the data
d. Predict the items needed for the next orde
Stakeholder Management Plan
Stakeholder Registe
    Name
    Position
    Internal/External
    Role
    Contact Info
    Sharad Patel
    Team Project Manage
    Internal
    Project Manage
     XXXXXXXXXX
     Shanu A
ol 
    Team Membe
    Internal
    Develope
     XXXXXXXXXX
    Jill Shah
     Team Membe
    Internal
    Develope
     XXXXXXXXXX
    Pruthul Patel
    Team Membe
    Internal
    Develope
     XXXXXXXXXX 
    Retail Store(s)
    Custome
    External
    Provide Requirements for project
     XXXXXXXXXX
    Cloud based Platform
(AWS)
    Cloud Provide
    External
    Provide a Cloud platform for developers to work on.
    https:
aws.amazon.com/contact-us/sales-support
Powe
Interest Grid
Stakeholders Analysis
    Name
    Powe
Interest
    Cu
ent Engagement
    Potential Management Strategies
    Sharad Patel
    High/High
    Actively Engaged
    Dedicated and highly involved individual. He is leading the project, so has to be in the loop for each part of the project.
     Shanu A
ol 
    Medium/High
    Actively Engaged
    Dedicated and also has high interest in the project. Cu
ently involved in other projects as well, therefore it is not always necessary for him to be involved in every aspect of the project, with the exception of weekly team meetings,progress reports,etc..
    Jill Shah
    Medium/High
    Actively Engaged
    Experienced in the field and also high interest in the project. Must be kept in the loop as often as possible.
    Pruthul Patel
    Medium/High
    Actively Engaged
    Experienced and creative. Always open to new ideas and
ings innovative ideas to the table. Keep in the loop to decide new and different features.
    Retail Store(s)
    High/Low
    Actively Engaged (For project start)
    Lots of power to change features and requirements. But not necessary to keep in the loop after requirement gathering.
    Cloud based Platform
(AWS)
    Low/Low
    Passively Engaged
    Resource provider to host the app. No need to keep in the loop. Only needed if a problem occurs while hosting.
Expectation management Matrix
    Measure of Success
    Priority
    Expectations
    Guidelines
    Scope
    1
    Retail Stores will easily be able to keep track of inventory and place the next order when required as suggested by application.
    Scope will need to be flexible since each retail store (customer) will have their own requirements/expectations.
    Time
    1
    Strict Deadline will be provided.
    Retail stores will provide a budget, therefore each will require a strict deadline inorder to start/update their business to this better system. 
    Cost
    2
    Budget will roughly be $100,000.
    The budget may be flexible for different customers as per their store size and requirements. 
    Technology
    2
    To improve on cu
ent systems, our application must first understand cu
ent retail store inventory technologies (if any exists).
    Since our system will rely on external cloud based technology, we must have a strict guideline for the retail store to accept going this route.
Issues Logs
None for now.
Chapter 3
HR Management: Shanu A
ol
Communication Management: Pruthul Patel
Human Resources (HR) :
The human resource management for InTrack first focuses on the planning phase which involves assigning team project roles, responsibilities, skills and reporting relationships (also known as the Staffing Management Plan). The next step of the HR management process is to acquire the project’s team, this is mainly done using pre-assignment, although Negotiation, Acquisition or Virtual Teams techniques are also available if required. From this step on HR management focuses mainly on improving and managing the team as the project progresses.To help improve staff/team things such as training and rewards for desirable performance
ehavior. Managing the team will require HR roles that will support, encourage and guide members throughout the project, rewarding
ecognizing optimal performance when necessary. All these steps combined will help ensure the project is done within the project's requirements and scope. 
Staffing Management Plan:
Staffing:
    All projects will have a pre-assigned team to them approved by the InTrack HR management team. 
Safety and Compliance:
    All staff must follow safety guidelines given by the HR department. All staff are also expected to maintain integrity, transparency and accountability in all work done.
Training:
    InTrack shall provide any staff member with the option of additional training for a project specific skill. Training may be required for certain projects based on the client and the project scope.
Reward/Recognition:
All staff are managed by HR personnel and if exceptional performance from a staff member is seen. A reward such as: employee of the month, pay incentives or additional vacation days ( Also applies to HR staff ). 
Responsibility Matrix / RACI Chart:
R = Responsible, A = Accountable, C = Consulted, I = Informed
    Project Item
    Sponse
    Project Manage
    Project Team
    Project Office
    Front-End
    
    
    
    
    Home Login 
Page
    C
    A
    R
    I
    Inventory Input 
    C
    A
    R
    I
    Sale History
Input
    C
    A
    R
    I
    Order Suggestion
Page
    C
    A
    R
    I
    Product Order 
Page
    C
    A
    R
    I
    Approval of Front-End
    A
    R
    R
    I
    Back-end Inventory
Database
    
    
    
    
    Select and Create Database
    I
    A
    R
    C
    Transfer Data to DB and Algorithm
    C
    A
    R
    I
    Approval of Back-End
    A
    R
    R
    I
    Suggestion Algorithm
    
    
    
    
    Process Data
    I
    A
    R
    I
    Output Prediction
    C
    A
    R
    I
    Approval of Algorithm
    A
    R
    R
    I
Communications Management
Communications management within the organization focuses on the processes that are ensured for the generation collection distribution storage retrieval and ultimate disposition of information about the project. The processes demonstrated by the communication management within the organization provide a critical link between the people and the information that is necessary for successful communication. It enables the project managers to send most of the information regarding the stakeholders and other internal and external information to the relevant department and parties concerned about that particular aspect. Communication management within the organization deals with the information of the stakeholders and requires an effective consideration of the flow of information within the organization or between multiple companies. This focuses on reaching an organization's target audiences by planning and implementing different methods of communication. Effective communication management is considered to be a lifeline for the projects that the organization needs to undertake as well as in the various departments of the particular company.     
Communication Processes
Communication management usually takes place through various steps that are known as the communication process.
· Identifying the stakeholders and all the people within the organization that have an impact on the project and documenting the relevant information with regards to their interest and involvement in the project's success is documented.
· The process of determining the project stakeholder information also requires defining the communication approach which is an effective step of communication
Answered Same Day Mar 21, 2023

Solution

Shubham answered on Mar 22 2023
27 Votes
Store Inventory Management System
Store Inventory Management System
Introduction
The project "Store Inventory Management System" framework consists of five phases that includes initiation, planning, execution, monitoring and controlling, and closure.
Project Integration Management is essential for coordinating and integrating all project components.
In thr project PMP framework can be used with Agile methodology, scope management, risk management, stakeholder management, project scheduling, and cost estimation to improve inventory management for retail stores.
It includes approaches that involves defining project objectives, developing a comprehensive project plan, monitoring progress, identifying variances, implementing co
ective actions, and conducting a project evaluation.
With the utilizing of this framework, retail stores can make informed decisions about inventory levels, leading to increased sales.
The project "Store Inventory Management System" framework consists of five phases that includes initiation, planning, execution, monitoring and controlling, and closure. Project Integration Management is essential for coordinating and integrating all project components. In thr project PMP framework can be used with Agile methodology, scope management, risk...
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