Optimization of Inventory Management System

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SMEs are key to strengthening productivity, delivering more inclusive growth and adapting to the major transformations of our time. Digital technologies and global value chains offer new opportunities for SMEs to innovate and grow. However, they are lagging behind in the digital transition and are disproportionately affected by market failures. Access to certain competencies, technology, and innovation is essential to incentivize risk-taking and experimentation by entrepreneurs enabling SME growth. Belyea Bros. current services are concentrated on complex heating and cooling projects targeted primarily at the residential retrofit and maintenance market in Toronto. The organization is a premium niche service provider that focuses on the installation of high-quality components and installation workmanship. Existing practices and inventory management techniques limit service enhancements, reinvestment into business operations, and hinder growth. Through this proposed applied research project with Humber College, Belyea Bros. aims to optimize the inventory system, to transform the operational process based on new technology acquired, and develop an encompassing performance measurement system.