Increasing the efficiency of inventory management in the field of trade based on integrated BI and ERP technologies

Abstract

The article explores the possibilities of improving the efficiency of inventory management in the trade sector by integrating business intelligence (BI) and enterprise resource planning (ERP) technologies. The article considers a model of combination of these technologies, systemises their advantages and limitations related to determination of economic efficiency of such integration on the basis of analysis of practical cases in three aspects related to information technology, economics and management. The study uses the methods of systematisation, analysis, synthesis, grouping, integrated ABC-XYZ analysis and case analysis. Further research is aimed at generalising practical cases in order to determine the prospects for the introduction of integrated technologies in the activities of trade enterprises. Particular attention is paid to optimising inventory management and increasing productivity through the use of business analysis tools and automation of operational planning and accounting processes. The practical value of the study lies in developing ways to rationalise inventory management, which will allow companies to formulate a procurement plan; plan an appropriate budget of income and expenses to avoid unforeseen costs and insolvency crises; improve cost management processes by drawing attention to the goods that account for the largest share of costs, as well as those characterised by high unpredictability of demand. This information is important for internal financial accounting, budgeting, operational and strategic planning.