Walmart’s IT Project Analysis and Proposal Report
- Describe your idea for an IT investment project, referencing one of the strategic goals for your chosen company. The project must align with this strategic goal and include a software component or a SaaS solution.
The IT Investment Project
My IT investment idea for Walmart is incorporating IT software that improves analytics to ensure the company’s inventory matches with consumers’ demands. The current system is ineffective in which the company ends up stocking large unnecessary inventory that’s not predictive of consumer demands.
Therefore, as the chief information officer (CIO), I think having advanced operational software utilizing new technology, would be the best solution for the company. In my research, I think Solvoyo’s supply chain planning & analytics software would be most viable in solving Walmart’s mismatched inventory purchases. Solvoyo software utilizes Artificial Intelligence (AI) technology to ensure that it benefits a business in several ways. First, it segments products and customers based on the most and the least profitable, order reliability, supply variability, and incremental profits (Sugun, 2019; TTO). A company can choose on the customer segments and the kind of product it should cease production or produce more to the market. Secondly, it ensures that it re-adjusts safety stocks across the supply chain based on forecast errors and supply variability. Additionally, the software maintains full visibility of a company’s inventory. It keeps track of all the inventories from the ones in transit and in-premise (excess and dead inventory). Lastly, the software provides analytics that helps in the decision making regarding the kind of inventory to purchase and when to purchase and not to purchase. The company utilizes descriptive, diagnostic, predictive, and prescriptive capabilities in all producing the expected outcomes. IT project investment seems viable with such expected outcomes.
- Describe the current financial position of your chosen company. The description must align with the company’s 10-Q financial statements and include the following components, along with a justification for eachof the ratios used:
