Kanban method - management tool for trade entities

Abstract

The Kanban method, originally developed in the manufacturing industry, has found applications in various business sectors, including trade entities. Kanban is a visual management tool designed to improve workflow, efficiency, and overall operational performance. When applied to trade entities, Kanban can help streamline processes related to inventory management, order fulfillment, and supply chain optimization. Here's how Kanban can serve as a management tool in trade entities: visualizing inventory, setting stock limits, replenishment process, regular monitoring and updating, reducing waste, supplier collaboration, staff training, performance monitoring etc. Kanban in trade entities can lead to cost savings, improved inventory management, waste reduction, and increased customer satisfaction by ensuring the availability of desired products. However, it should be adapted to the specific needs of the trade entity and managed effectively to achieve the best results. CZU: [005.584.1:339.17]:001.811; JEL: M40, M41; DOI: https://doi.org/10.53486/isca2024.26