Inventory Management System of a Printing Press in Dagupan City
Chapter I THE PROBLEM AND ITS BACKGROUND
Rationale
The success of every business depends on how it is managed, whether it is on the management of human resources, finances, operations or production. Focusing in the production process, one aspect to consider is its proper inventory management.
The need for proper inventory management system is indispensable nowadays especially in coping up with global competition. As firms deal with their inventory systems, problems still arises and most of which are experienced worldwide. For instance, Bhattacharjee (2012) attributed the pickup in sales to inventory flow "getting back on track, as they did not flow product appropriately.” This was a statement in his article as it discussed the latest experience of Abercrombie and Fitch, also known as A&F, an American retailer that focuses on casual wear for consumers aged eighteen to twenty two, got a handle on excess inventories that had discounting that worried their investors last year. Said dilemma was due to negligence of identifying excess inventories ahead of time. Thus, inventory management, or balancing orders with demand, has been a major concern for Abercrombie. In recent quarters, it has been compelled to offer discounts to its teenaged clientele who had held back on purchases. On the other hand, Wal-Mart Stores, Inc. branded as Walmart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. The company is the world's third largest public corporation, according to the Fortune Global 500 list in 2012, the biggest private employer in the world with over two million employees, and is the largest retailer in the world. Walmart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Walmart. It is also one of the world's most valuable companies. The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and publicly
Rationale
The success of every business depends on how it is managed, whether it is on the management of human resources, finances, operations or production. Focusing in the production process, one aspect to consider is its proper inventory management.
The need for proper inventory management system is indispensable nowadays especially in coping up with global competition. As firms deal with their inventory systems, problems still arises and most of which are experienced worldwide. For instance, Bhattacharjee (2012) attributed the pickup in sales to inventory flow "getting back on track, as they did not flow product appropriately.” This was a statement in his article as it discussed the latest experience of Abercrombie and Fitch, also known as A&F, an American retailer that focuses on casual wear for consumers aged eighteen to twenty two, got a handle on excess inventories that had discounting that worried their investors last year. Said dilemma was due to negligence of identifying excess inventories ahead of time. Thus, inventory management, or balancing orders with demand, has been a major concern for Abercrombie. In recent quarters, it has been compelled to offer discounts to its teenaged clientele who had held back on purchases. On the other hand, Wal-Mart Stores, Inc. branded as Walmart, is an American multinational retail corporation that runs chains of large discount department stores and warehouse stores. The company is the world's third largest public corporation, according to the Fortune Global 500 list in 2012, the biggest private employer in the world with over two million employees, and is the largest retailer in the world. Walmart remains a family-owned business, as the company is controlled by the Walton family, who own a 48 percent stake in Walmart. It is also one of the world's most valuable companies. The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and publicly
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