Table of Contents
Abstract
This project will develop an inventory sourcing and procurement plan for a startup retail business selling home goods and accessories. The business currently operates an online store and is planning to open its first physical location. An effective sourcing plan is needed to identify reliable vendors, negotiate competitive pricing, and ensure a steady supply of high-quality products. This project will conduct research on sourcing best practices, evaluate potential domestic and international vendors, develop vendor selection criteria, and create standard operating procedures for purchasing, receiving, and inventory management. The goal of the sourcing plan is to streamline operations and control costs as the business scales over the next two years.
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