Research Paper: Problem Statement Sample

Problem Statement
Student’s Name
University
Course
Professor
Date
Problem Statement
Original problem
As part of the managerial team at Target, there have been numerous complaints from clients concerning limited stock and lack of some products. Some staff has also raised concern about products running out without immediate restocking. During such instances, when the team follows up on supplying companies, they claim to have run out of stock or other companies had placed orders; hence, we have to wait for a few days.
Stakeholders who are most affected by the problem
The two major stakeholders affected by this problem are the customers and investors. Lack of adequate stock affects customers directly because they feel disappointed when they go to the stores, lack products, and get forced to go to other stores. Investors are majorly affected because lack of products leads to fewer sales in a month, which leads to fewer profits while some expenses remain constant. Inadequate stock can also lead to customers' loss, resulting in a drop in sales and eventually a decrease in profits.
Type of problem
Inadequate stock in stores is a problem of resources. As a retail company, the major resource in stock. Without products, Target loses its role in the market. The second resource at target is labor. Labor is directly affected by the stock because, without products to sell, there is no need for labor at Target. This problem is also a skills problem because inadequate resources result from poor planning skills and poor communication skills in the various departments.
The suspected cause of the problem
One of the suspected causes of inadequate stock in stores is poor planning by the procurement department. During this period of the Covid pandemic, most suppliers produce limited products due to low demand for some goods and fear of producing a surplus, resulting in waste. The minimum number of products used in order before the pandemic was not applicable due to a decrease in demand, and order once goods got depleted led to a delay. Therefore, Target's company faced adjusted the minimum number of products in store used in determining a need to order, based on the rates of demand.
...