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Inventory Control Systems, 2005.
This paper discusses inventory control systems as they relate to the overall production for a company.
990 words (approx. 4.0 pages), 3 sources, MLA, £ 24.95
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Abstract
This paper explains that the four factors of production are land, labor, capital, and enterprise. The author points out that the Periodic Inventory System is a physical count inventory, usually made at the end of the accounting period, which does not maintain a detailed record of the actual inventory kept during the accounting period. The paper stresses that persons in charge of controlling the inventories in a business must follow certain steps and perform an accurate inventory control in order to avoid high costs due to overstocking matters.
Table of Contents
Introduction
Production Factors
What Is Inventory
Cost Associated with High Inventories
Inventory Systems
Periodic Inventory System
Perpetual Inventory System
Conclusion
Graph
From the Paper
"Inventory is the value of a firm's current assets that are shown on the balance sheet, generally at cost. Inventory or merchandise inventory is generally applied to goods or materials available on hand that are held by a merchandising firm, either wholesale or retail. It includes raw materials, work in progress, and finished goods that are ready for sale, but has not been sold yet."
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Inventory Control at 7-Eleven, 2003.
This paper is a research proposal to upgrade existing inventory control technology at 7-Eleven Florida Division by improving employee training.
3,510 words (approx. 14.0 pages), 6 sources, APA, £ 69.95
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Abstract
This paper a research proposal for a study is to evaluate methods of improving inventory shortage at 7-Eleven. The author believes that the most effective and cost efficient manner of improving inventory shortage at 7-Eleven is to revise the current training program. This paper presents the method for collecting and analyzing data through out the project.
Table of Contents
Introduction
Problem Statement
Purpose
Description of Community
Description of Work Setting
Research Team?s Role
Study of the Problem
Problem Description
Problem Documentation
Literature Review
Causative Analysis
Expected Outcomes
Goals and Expectations
Expected Outcomes
Measurement of Outcomes
Analysis of Survey Results
Solution Strategy
Statement of Problem
Discussion
Selected Solutions
Project Timeline
Summary of Recommendations
Conclusions
Recommendations
Evaluation
Appendices Figures Tables
From the Paper
"Data will be recorded and analyzed during the implementation stages of this research project. The research team will analyze the data using statistical analysis. This analysis will determine what method is best in reducing inventory shortage at 7-Eleven. Modifications and changes will be made along the way as needed. The research team will record and log all data in a journal and make necessary changes. The team will also monitor the pilot stores and record what effect the revised training program is having on inventory loss. This data will be gathered, analyzed, and presented in graphs and charts to the Market Manager, and Division Vice President. The proof of this plans success will be in the reduction of not only inventory shortage, but also decreased labor dollars, and an overall reduction in turnover. This training program will be a great success."
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The Modern Inventory Control Process, 2002.
Examines what constitutes a contemporary inventory control process in the industrial world.
3,122 words (approx. 12.5 pages), 11 sources, MLA, £ 63.95
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Abstract
Specialization, standardization, and centralization characterize the present industrial paradigm. These situations also exist alongside other changes such as downsizing, organizational restructuring and budget cuts. Despite the upheaval and uncertainty that these situations bring, they force an organization to sit back and reevaluate the significance of the ramifications of the culture, customs and regulations, i.e., it forces the company to change. The paper shows that with markets getting smaller and more interlinked, many companies choose to acquire companies that they feel will help them expand and/or help gain capital for future expansion. This strategy ensures that these companies have a larger market bargaining power and clientele for their products. The paper shows, however, that many of these organizations are fighting a losing battle with their inventory, work in progress and raw material supplies. The paper also looks at the future of inventory management.
From the Paper
"Plant operations get more complicated by issues such as manufacturing and operational lead times, replenishment cycles, unexpected surges in demand of a product, safety stock requirements for critical part, review frequency and the failure of establishing realistic target service levels. James D. Tarr, in the article ?Seven Ways To Reduce Your Inventory,? discusses some general operating practices that can be followed by all managers and companies to help keep inventory cost down (Tarr, 2001). He advocates that accurate data information is required and screening out erratic and unreliable vendors is also important for implementing a good inventory program. An important reality check should also be made with regards to realistic sales rather that on the inflated projections made by the sales department."
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Just-in-Time Inventory and Quality Control, 2006.
An analysis of just-in-time inventory control and how it is used to solve manufacturing management problems.
3,769 words (approx. 15.1 pages), 5 sources, MLA, £ 73.95
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Abstract
This paper discusses the just-in-time (JIT) philosophy and how it relates to quality control. It describes how during the recent years, the JIT philosophy has been elevated to the level of a panacea for all manufacturing management problems and appears to have also found applications in many other areas. The paper discusses some of these applications.
From the Paper
"Applications of JIT purchasing systems are growing in the United States, and are being used not only as a part of standard JIT systems, but also as independent purchasing systems (Yip). These systems include delivery of required items at the right time in the right quantities, elimination of waste in the production process, and inventory control of materials and parts (Yip).
Implementation of JIT purchasing is a multi-phased process that uses both JIT purchasing characteristics and JIT inventory management principles (Yip).
The implementation strategy should involve top management commitment to establish JIT purchasing as a top priority, and should be changed to subordinate everything toward the goals of this system (Yip). Once the role of the JIT purchases is established, suppliers that can support a JIT operation must be selected, and once that is accomplished, JIT purchasing requires a continuous effort for improving the relationship between the purchaser and supplier (Yip)."
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Just-in-time Inventory Control, 1999.
Examines the re-supply method and its impact on accounting. Discusses benefits, valuation of inventory, efficiency, the role of management and retailing.
2,700 words (approx. 10.8 pages), 8 sources, £ 67.95
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Abstract
The Japanese system of inventory control has been variously called the "Toyota system," the "just-in-time system," and the "Kanban system" (Johnson, 1993, 52). Just-in-time means, quite literally, that an assembler on a line receives his consignment of parts "just in time" to use them (Bacharach, Bamberger, & Mundell, 1995, 11). The system is based on an ideal situation in which a part arrives just in time to be used, even though that optimal level of usage is never actually reached. As such, the system operates on the strength of very small lot quantities of replacement parts.
From the Paper
"THE IMPACT OF JIT INVENTORY CONTROL ON ACCOUNTING
Introduction
The Japanese system of inventory control has been variously called the "Toyota system," the "just-in-time system," and the "Kanban system" (Johnson, 1993, 52). Just-in-time means, quite literally, that an assembler on a line receives his consignment of parts "just in time" to use them (Bacharach, Bamberger, & Mundell, 1995, 11). The system is based on an ideal situation in which a part arrives just in time to be used, even though that optimal level of usage is never actually reached. As such, the system operates on the strength of very small lot quantities of replacement parts.
On a typical assembly line, any particular worker might..."
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Inventory Control, 1986.
Analyzes major functions in theory & applied to Lockheed & Perker Elmer Instrument companies. Looks at production, planning, work in process, forecasts, sales orders and lead times.
1,800 words (approx. 7.2 pages), 5 sources, £ 44.95
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From the Paper
" This paper is an analysis of the basic concepts embodied in inventory control systems. This paper will examine how the economic maintenance of any inventory system is the key to success for companies dealing with a product.
While inventory is common to all production methods, it can sometimes be considered in isolation from the over-all production methods. Although the question of inventory is strictly related to production, the holding of that question apart and separate is possible. The problems that primarily surround inventory control problems fall in three large areas: the-intangible nature of some factors, the spread of responsibility between departments, and the sheer complexity of some situations (Hobbs, 1973, p. 5)."
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Just-In-Time Inventory Systems, 2008.
An analysis of the benefits and implications of implementation of the just-in-time (JIT) inventory systems for businesses.
1,056 words (approx. 4.2 pages), 5 sources, APA, £ 26.95
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Abstract
This paper discusses the philosophy behind and the implementation of the just-in-time (JIT) inventory systems for businesses. It looks briefly at the aims and the benefits of the JIT inventory system, particularly in reference to its ability to improve quality. Finally, the paper discusses the implication of the JIT inventory system, particularly in relation to global operations management.
From the Paper
"Therefore, JIT has a series of important positive implications, as it also reduces waste, costs, and time. But this method also has negative implications in certain unusual situations. These negative implications occur not because of JIT method itself, but because of other factors, independent from JIT, the company in cause, or the product that is being manufactured or distributed. These negative implications may emerge due to external factors that cannot be influenced by the company, no matter what strategies it may follow."
"Chrysler had to go through such a situation, when because of the September 11 events, the company's transportation system and the later distribution process was turned upside down. Such situations cannot be anticipated, and therefore, there is no possibility to prevent them from emerging and from negatively affecting the company."
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Just-In-Time Inventory Management, 1995.
This paper discusses Just-In-Time (JIT) inventory management: Definition, compared to traditional inventory control, implementation, objectives, quality and costs and benefits.
2,700 words (approx. 10.8 pages), 9 sources, £ 67.95
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From the Paper
"Costs associated with inventory make up one of the most critical cost areas within an organization. Whether the company manufactures goods or sells finished products, inventory carrying costs and their component parts can represent a significant portion of the company's cost structure. In addition, having the wrong amount of inventory on hand can result in severe difficulties. Having too much inventory on hand means that extra warehouse space is needed in addition to the costs associated with the inventory itself. In a manufacturing environment, having too little inventory for input goods means that production slows down, or is even halted. In both manufacturing and retail environments, not having enough inventory on hand to meet consumer demand results in lost sales, and lower revenue than would otherwise be realize ... "
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Inventory Managers, 2003.
Discusses career opportunities for inventory control managers.
1,350 words (approx. 5.4 pages), 4 sources, £ 33.95
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Abstract
Considers the personal attributes needed for the job, working conditions, necessary skills, pay range, and gives the example of the Shoe Pavilion as a company with good opportunities.
From the Paper
"Operations managers plan, direct and/or coordinate the operations of a company or organization. Operations managers are typically involved in the layout of a facility, policy formulation, inventory ..."
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Management Information Systems, 2002.
The paper analyzes the Point of Sale (POS) inventory management system used by retailer Wal-Mart to keep inventory and labor costs low while increasing the accuracy of their inventory management.
3,108 words (approx. 12.4 pages), 7 sources, MLA, £ 63.95
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Abstract
The paper looks at how inventory management systems benefit large firms and examines how Wal-Mart's information system functions. The paper explores the effect of the management information system on its users and focuses on the software specifically designed to support the team approach essential to the organization. The paper also discusses the necessity for creating a model for the system prior to its creation.
From the Paper
"Much of the action required to operate and manage inventory levels with this system is back up, verification, and system maintenance. Strict government regulation regarding computerized pricing practices mandate that retailers keep the marked priced on the products as well as maintain the computer database. Managing this dual pricing system is time consuming. Actual inventory levels must be checked against computer records on an ongoing basis in order to ensure proper inventory levels on every item. At a corporate level, this sales and inventory information can be used to determine items to carry, discontinue, feature on special, etc."
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Business Logistics & Central Systems Corporation, 2005.
A review of the Central Systems Corporation and strategic business logistics.
2,700 words (approx. 10.8 pages), 1 source, £ 75.95
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Abstract
This paper discusses Central Systems, whether or not the company should open a third distribution center and which tools would best suit the company for maximized operational efficiency. The company President decided to establish a Denver Task Force to identify the most cost efficient procurement for managing the company's OEM suppliers, cross firm manufacturing and production capabilities, inventory control, and overall process improvement.
From the Paper
"With the spread of globalization, increased competition in the telephone switching equipment industry has forced market players to re-examine and re-evaluate operational and resource efficiency in an effort to cut costs and maximize profitability. Some of these manufacturers are looking to new and innovative distribution strategies to resolve operational inefficiencies by creating more responsive and flexible distribution channels. Strategic business logistics and emerging technology have become feasible and essential to companies seeking to maintain and increase market share. Innovative distribution practices of the 21st Century have propelled some corporations from minor market players to industry leaders. By refocusing lines of business and distribution centres, manufacturers can benefit from leveraging capabilities and sharing resources within the channel as a means for establishing increased operational efficiency and effectiveness."
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Inventory Management, 2002.
This paper examines a type of inventory management, just-in-time (JIT).
3,037 words (approx. 12.1 pages), 4 sources, MLA, £ 63.95
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Abstract
The paper looks closely at issues surrounding inventory management and examines the costs and benefits associated with this type of inventory control. The writer then makes a strong claim that the company JIT can be the most cost-efficient and highly effective way for a company to accomplish the complicated task of inventory management, though the use of the ever-growing electronic commerce.
From the Paper
"Reduction of inventories is the main reason that companies have sought alternative inventory management methods. The use of smaller batches leads to the need for less inventory at any particular point in the production process. Cash flow is improved due to less capital investment in inventory. Less inventory on hand leads to savings in other areas as well, such as smaller space requirements, decreased materials handling costs, decreased record keeping costs, decreased insurance and tax obligations, and less scrap and obsolescence (Larson, 1998, p. 44)."
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Order Management Systems and Sports Nutrition, 2008.
This paper looks at increasing distributed order management and enterprise resource planning systems performance in the sports nutrition industry, including recommendations for Europa Sports Products.
3,900 words (approx. 15.6 pages), 19 sources, MLA, £ 75.95
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Abstract
In this paper, the writer first defines how distributed order management systems are progressing from being ERP centric and more customer-focused and demand-driven, and second, how these systems are making it possible for sports nutrition distributors to attain their selling, service and long-term growth objectives. The writer points out that for sports nutrition distributors in general and Europa Sports Products specifically, the need for synchronizing their 177 suppliers that provide just over 5,400 products, inventoried in 215,000 square feet of warehouse space spread across four geographic locations underscores the urgent need the company has for a reliable distributed order management system. The writer maintains that integrating with suppliers' Enterprise Resource Planning (ERP) systems, supply chain, order management, and forecasting systems is also critical to the success of Europa Sports Products. The business model of distribution is predicated on price, availability, accuracy of fulfillment and support programs for dealers and resellers. The growing importance of analytics as they relate to managing supply chains, order management, fulfillment and integration is also discussed. The paper includes charts and tables.
Table of Contents:
Executive Summary
Introduction
Summary of Research Findings
Recommendations to Europa Sports Products
Analysis of Distributed Order Management & ERP Systems Use Conclusions and Recommendations
References
Appendices
From the Paper
"Through the research completed it is clear that order management, ERP and supply chain systems are becoming increasingly reliant on each other and increasingly critical as the foundation of distribution-centric business models. This is especially true for sports nutrition distributors, where the need for achieving high inventory turns on their most popular and profitable products are critical. Optimizing inventory mix, increasing inventory turns and having the most popular products in stock require intensively higher levels of supply chain integration, in addition to distributed order management systems performance. What became clear from the research completed was that manually attempting to coordinate and optimize inventory across multiple locations was difficult if not impossible, and that distributed order management systems, when integrated to suppliers' supply chain management systems, made the processes much more cost- and time-efficient, and accurate as well."
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Management Information Systems (MIS), 2002.
An introduction to the concepts and uses of management information systems (MIS).
3,512 words (approx. 14.0 pages), 15 sources, MLA, £ 69.95
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Abstract
This paper examines the function of computerized management information systems (MIS) and then draws upon the literature to identify the ways in which they are used as a tool for tracking client purchases and profiles, business system operations, inventory management and other record-keeping activities found in virtually all businesses and industries in the contemporary world. It looks at how MIS support the business operations and the management of an organization and how computer and telecommunications systems and technologies have virtually revolutionized the ways in which these organizations function. It uses the financial and securities sector as an illustration of the multiplicity of tools, tasks and functions such systems can perform.
From the Paper
"The innovations in inventory control mark a dramatic departure from the more traditional "FIFO" (first in, first out) and "LIFO (last in, first out) systems that some manufacturing industries used prior to the advent of the compact, affordable computer. Today, few manufacturing concerns of any size are without basic (And increasingly more and more complex) computerized inventory control mechanisms and systems. Many of these programs employs the basic techniques of PERT (Program Evaluation and Review Technique) and Critical Path Method (CPM) to track costs and outputs from beginning through to sale and distribution (Smykay, 1991). Though time-event networks such as PERT and CPM are more often associated with the planning and control of production itself rather than with inventory management and stocking profiles, they can be used in this arena as well. Even the warehousing and stacking of finished goods requires network planning if it is to be efficient."
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