Vonkel Case
1) Which activities should Vonkel undertake to effectively manage their inventory?
Ans: Fixed location system and Tracking inventory system are useful methods for Vonkel to effectively manage their inventory. * Fixed Location Inventory System: As all products are in jewelry products they made with different sizes every item is different than other items. In fix inventory system every item has assigned their specific location .Over 80 percent of the company’s total inventory consist of finished product. However it is necessary to arrange the entire product in fix location so it is easy to determine which reduces filling orders. Fixed location inventory helps to employ system like first-in, first out when stoking orders. * Tracking Inventory: It is one of the effective method to manage the entire inventory .Tracking inventory involves noting down inventory items on regular basis and noting movement of items. By using Bar Codes and RFID tagging Vonkel can manage their inventory. There are lots of products are still pending when products are tagged with a bar codes it is easy for employees to identify the particular products which they looking for. RFID tagging makes the process of tracking inventory easier because they are programmed with unique product codes.
2) What would be the most appropriate strategy for Vonkel to adopt in order to maintain optimal inventory levels?
Ans: By using Just-in-time inventory method Vonkel can effectively manage their inventory. The aim JIT is to reducing buffer inventory to Zero. * Improved Data collection strategy: It is essential for Vonkel Enterprises to know where inventory is and also know the lead times for the products to reach their potential customer also having the knowledge of raw materials reaching production plant and their lead time. By using this data information Vonkel can adequately gauge their inventory levels and also reducing buffer inventory to zero. * Reduce Lead Time: In this strategy Vonkel
Ans: Fixed location system and Tracking inventory system are useful methods for Vonkel to effectively manage their inventory. * Fixed Location Inventory System: As all products are in jewelry products they made with different sizes every item is different than other items. In fix inventory system every item has assigned their specific location .Over 80 percent of the company’s total inventory consist of finished product. However it is necessary to arrange the entire product in fix location so it is easy to determine which reduces filling orders. Fixed location inventory helps to employ system like first-in, first out when stoking orders. * Tracking Inventory: It is one of the effective method to manage the entire inventory .Tracking inventory involves noting down inventory items on regular basis and noting movement of items. By using Bar Codes and RFID tagging Vonkel can manage their inventory. There are lots of products are still pending when products are tagged with a bar codes it is easy for employees to identify the particular products which they looking for. RFID tagging makes the process of tracking inventory easier because they are programmed with unique product codes.
2) What would be the most appropriate strategy for Vonkel to adopt in order to maintain optimal inventory levels?
Ans: By using Just-in-time inventory method Vonkel can effectively manage their inventory. The aim JIT is to reducing buffer inventory to Zero. * Improved Data collection strategy: It is essential for Vonkel Enterprises to know where inventory is and also know the lead times for the products to reach their potential customer also having the knowledge of raw materials reaching production plant and their lead time. By using this data information Vonkel can adequately gauge their inventory levels and also reducing buffer inventory to zero. * Reduce Lead Time: In this strategy Vonkel