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Implementation of internal control processes for consignment and vendor managed inventory to improve the stock position accuracy: the case of Kiehl's

Munezero, Christelle
(2020)

Files

Munezero_33631100_2020.pdf
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Details

Supervisors
Semal, Pierre
Faculty
Louvain School of Management
Degree label
Master [120] en ingénieur de gestion
Abstract
The downstream vertical integration strategy followed by L'Oréal Benelux when opening Kiehl's retail points of sale offers to the company the possibility to incorporate, in its supply chain, functions that were previously performed by external down-chain parties. As part of the strategical decisions, Kiehl’s retail distribution is governed by a consignment and vendor managed inventory system. In such a system, the liability of maintaining inventory and deciding replenishment frequency and volume belongs to the manufacturer. Besides, stock kept in the retail locations are owned by L'Oréal until they are sold to end consumers. The stakes are therefore high for L'Oréal. The use of an information technology system to allow data exchange is crucial in such a system. L'Oréal must ensure that it takes the appropriate decisions on the basis of reliable shared information. The accuracy and reliability of data are essential for the success of inventory management. The control processes implementation that target stock reconciliation to improve data accuracy is the core subject of this thesis.