BUSN 600 - Week 3 Assignment (Coursework Sample)

BUSN 600 - Week 3 Assignment Name Institution Course Instructor Date Name and description of the company The selected company is Whole Foods Market. Whole Foods Market is an international supermarket chain based in Austin, Texas, US. It operates in the retail industry by offering various products to the end consumers. Whole Foods Market specializes in selling natural and organic products to the people in the target market. The retail firm operates in the global market, and most of its stores are based in the United States, the United Kingdom, and Canada (Grilo, 2019). Regarding its size, Whole Foods Market operates over 500 stores. The company has a team of skilled employees who ensure customers receive high-quality services when shopping in the stores. Whole Foods Market is among the firms embracing improved technology to enhance their business operations. As a result of technological advancements in the business environment, Whole Foods Market is applying artificial intelligence (AI) in its activities. The AI application utilized by the company and its main subfield of AI As stated earlier, Whole Foods Market uses AI due to technological improvements in the business environment. The AI application Whole Foods Market utilizes is an automated inventory management system. This digital system is used to automate the inventory management activities in the retail firm. The primary subfield for this AI is deep learning. The deep learning software assesses the shopping operations to identify the pattern and promote the accuracy of its charges (Kang, 2022). The AI application that Whole Foods Market uses provides a more efficient way to manage inventory. It predicts the quantities of goods that must be stocked and ordered based on the current inventory levels. The AI application also uses data about seasonal trends and past sales to make decisions and predict the amount of stock needed to be ordered. Consequently, the AI application automates the activities of keeping the shelves stocked at the right time with the right products. This reduces time wastage in stock management activities and promotes customer satisfaction since they can get the products they need from Whole Foods Market. The AI's operational role in the selected company. In Whole Foods Market, the inventory management system driven by AI plays a considerable part in streamlining operations. The central operational role of this AI is to help in the inventory ordering process. It recommends what products should be restocked and when based on past sales data. An improvement in the inventory management process is crucial for the success of Whole Foods Market in the retail industry. It ensures that the customers can get the products they need at the right time since it eliminates issues such as stock-outs (Brady, 2018). The automated inventory management system ensures that human employees have a lesser burden in stock management so that they can focus on other critical tasks such as customer service. Proper application of the AI system has improved the performance of Whole Foods Market in the competitive marketplace. The benefits this AI application provides to the industry and the selected company. The AI application significantly benefits Whole Foods Market and the entire retail industry. Starting with Whole Foods Market, the AI application has reduced operational costs. Firms incur significant costs in inventory management operations, such as storing goods. By applying AI, Whole Foods Market has been able to ensure proper stock levels all the time. This helps the firm to eliminate the costs associated with understocking or overstocking. Reducing operational costs improves the firm's overall financial performance (Kang, 2022). Another considerable benefit Whole ...