Ltb Inventory Systems
Inventory Systems Summary Week -1
Team B
Sarah Elliott, Juan Gutierrez, Romeo Murillo, Emily Sohre
QRB 501
May 6, 2013
Steve Spencer
Inventory Systems Summary Inventory Systems are the software used to plan and track inventory balances and activities (Investopedia, 2012). There are many inventory systems, which can be used in an organization to track products sold or used. Team B’s team members will describe his or her organization and the current inventory system he or she uses. Each member will discuss the advantages and disadvantages of his or her inventory system. Team B will also do a comparison between each organization to identify the strengths and weaknesses. Below one will find the discussion to the topics mentioned above.
Department Assistant, MCHS-Mankato Emily works in a hospital as a department assistant. Emily is tasked with ordering supplies for the department such as pens, tissues, and post-it notes for multiple departments within her office area. Orders can be tracked using department codes. There currently is not an efficient way to do this, as each department shares supplies. Inventory of the various items is not kept track of in a traditional way; rather it is put into a cabinet and shared. Most supplies are charged to the main department within the office area even though they can be used at any time by any department. Ordering these basic items could be better tracked if each department had their own area to store supplies. The multiple departments include operations, provider recruitment, and human resources. All departments share the same printer, which means that paper and ink orders must be rotated between departments because there is not an easy way to keep track of sheets of paper or ink cartridges. One way that could be used to better divide the resources would be to purchase each department their own printer. This would help the main department to stay
Team B
Sarah Elliott, Juan Gutierrez, Romeo Murillo, Emily Sohre
QRB 501
May 6, 2013
Steve Spencer
Inventory Systems Summary Inventory Systems are the software used to plan and track inventory balances and activities (Investopedia, 2012). There are many inventory systems, which can be used in an organization to track products sold or used. Team B’s team members will describe his or her organization and the current inventory system he or she uses. Each member will discuss the advantages and disadvantages of his or her inventory system. Team B will also do a comparison between each organization to identify the strengths and weaknesses. Below one will find the discussion to the topics mentioned above.
Department Assistant, MCHS-Mankato Emily works in a hospital as a department assistant. Emily is tasked with ordering supplies for the department such as pens, tissues, and post-it notes for multiple departments within her office area. Orders can be tracked using department codes. There currently is not an efficient way to do this, as each department shares supplies. Inventory of the various items is not kept track of in a traditional way; rather it is put into a cabinet and shared. Most supplies are charged to the main department within the office area even though they can be used at any time by any department. Ordering these basic items could be better tracked if each department had their own area to store supplies. The multiple departments include operations, provider recruitment, and human resources. All departments share the same printer, which means that paper and ink orders must be rotated between departments because there is not an easy way to keep track of sheets of paper or ink cartridges. One way that could be used to better divide the resources would be to purchase each department their own printer. This would help the main department to stay
References: Accounting tools. (2013). Retrieved from http://www.accountingtools.com/periodic-inventory-system Conrad, B. (2013). Chron. Retrieved from http://smallbusiness.chron.com/advantages-disadvantages-computerized-inventory-management-system-22513.html Ingram, D. (2013). Chron. Retrieved from http://smallbusiness.chron.com/difference-between-perpetual-periodic-inventory-system-3224.html Investopedia 2012. Retrieved on May 3, 2013 from the following website. www.investopedia.com Joseph, C. (2013). Chron. Retrieved from http://smallbusiness.chron.com/advantages-disadvantages-manual-inventory-control-system-22693.html PWC. (2011). Retrieved from http://www.pwc.com/en_CA/ca/retail-consulting/publications/in-brief-inventory-management-2011-03-en.pdf