Supply chain in Meena Bazar: focus on demand forecasting, inventory management, reverse logistics, and business expansion

Abstract

The practicum focuses on Meena Bazar's supply chain process, exploring novel theories and methods to enhance overall supply chain management. Meena Bazar, one of Bangladesh's largest retail supermarket chains, was established in 2002. Presently, it operates across Chittagong, Savar, Narayanganj, and Dhaka, with 43 locations open seven days a week, offering services like home delivery. Customers can choose from over 10,000 products, and Meena Bazar prides itself on easy parking, a convenient shopping experience, and excellent customer service. As a division of the renowned Gemcon Group in Bangladesh, Meena Bazar is known for its fresh produce, dairy items, and organic and herbal products. Beyond sales, Meena Bazar educates patrons about the benefits of a healthy lifestyle. The main objective of this practicum is to analyze Meena Bazar's existing supply chain process and recommend innovative methods for overall improvement. Four key areas—demand forecasting, inventory management, reverse logistics and business expansion—have been selected for further examination. By applying new methods, the practicum aims to enhance efficiency and effectiveness. Chapter 1 discusses overview of organization and scope of practicum which includes Meena bazar’s organizational overview, methodology of demand forecasting, warehouse and inventory management, and returns and reverse logistics, aiming to enhance Meena Bazar's operational efficiency and support sustainable growth. Chapter 2 provides a descriptive overview of Meena Bazar’s Supply Chain Method, it involves two primary teams: Procurement, responsible for sourcing a wide range of goods, and Logistics, handling warehousing, inventory management, and transportation. Demand forecasting is key, divided into central warehouse deliveries and direct retail location deliveries, ensuring optimal inventory levels. The supply chain also encompasses local sourcing collaborations, advanced inventory management, and efficient transportation. Integrated marketing efforts align promotional activities with projected demand, enhancing overall business operations and customer satisfaction. Chapter 3 discusses the demand forecasting method and relation with practicum work, demonstrating the findings and providing observations. It discusses quantitative forecasting methods including moving average method and trend analysis. Primarily using quantitative methods like Moving Average and Trend Analysis, they optimize inventory management. During the practicum, the author explored qualitative forecasting through market research, uncovering trends in customer preferences. Additionally, Meena Bazar uses Collaborative Planning, Forecasting, and Replenishment (CPFR) to enhance accuracy and efficiency, Chapter 4 discusses how efficient supply chain management—encompassing inventory, warehousing, transportation, and logistics—supports Meena Bazar's growth strategies. By integrating advanced technologies, fostering supplier collaboration, optimizing inventory, and expanding its distribution network, Meena Bazar ensures scalability, cost reduction, and customer satisfaction. Strategic warehouses and hubs enhance flexibility and delivery speed, critical for supporting both offline and online channels. As Meena Bazar looks to the future, embracing sustainability, digital transformation, and a customer-centric approach will be vital for maintaining its competitive edge and achieving long-term success. Finally, the report concludes with certain recommendations which include combining qualitative and quantitative forecasting, fostering collaboration across departments, and minimizing inventory costs. The study has four chapters.