18th May 2011 Table of Contents Need for Inventory Underlying Principles Current Philosophies of Inventory Mgmt Pros and Cons of IM Principles TOC and MEIO Primary Needs of an Effective IM System MapMySupplyChain 5/27/2011 Strictly Private & Confidential 2 Need for Inventory Inventory Need Principles Philosophies Pros and Cons TOC and MEIO Effective IM System MapMySupply Chsin To tide against Supply Chain Uncertainities – Transporter uncertainity‚ Supplier Lead Time
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Literatures Inventory is one of the most important in monitoring a stock that take place in business activity. The inventory system does the entire task in computing the value with inventory (cost and quality) and handling data or information. Inventory System maintains an orderly flow of supplies‚ raw materials‚ or finished goods through an office shop/factory because of items in any inventory. Represents cost‚ they need to be controlled. The purpose of inventory system for management are to keep
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Inventory problems have recently affected the Nation. The inventory problems are not only affect cement industry but also electricity‚ trains‚ telecommunication‚ and other sectors of industries. The symptom offers a dilemma‚ when technology develops quickly‚ another phenomena occur; in fact it is beyond expectation. The fundamental weakness of the inventory problems lies in the inaccuracy of management of logistics and transportation for inventory. One of the factors affecting the inaccuracy is
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Rutgers Department of SCMS Xiaowei Xu Inventory Concepts 1 Rutgers Department of SCMS Xiaowei Xu Definition of Inventory • Inventory is the stock of any item or resource used in an organization and can include: raw materials‚ finished products‚ component parts‚ supplies‚ and work-in-process • An inventory system is the set of policies and controls that monitor levels of inventory and determines what levels should be maintained‚ when stock should be replenished‚
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CASE: DOUGLAS ELECTRICAL INC Summary: Jim Essinger is a management consultant and training specialist from St. Louis who specializes in continuous process improvement and total quality management. Each month‚ he goes to Springfield‚ Illinois and provides three days of training to employees of a privately owned electrical wholesaler-distributor‚ Douglas Electrical Supply Inc. One of the attendee is Tony‚ from Quincy branch. Based on Jim and Tony’s conversation‚ Tony seem to be confused
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means that its inventories and cost of goods sold will began with amounts reflecting the standard costs‚ nor the actual costs‚ of a product Nestle’‚ of course still has to pay the actual costs. As a result there almost always differences between the actual costs and the standard costs‚ and those differences are known as variances‚ REASON FOR USING STANDARD COSTING Nestle is currently using Standard costing method because the related variances are valuable management tool. If a variance
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Evaluation of Inventory Turnover Ratios Abstract Effective inventory management is a top priority for companies looking to free up cash and leverage working capital. Inventory turnover varies widely across different industries and different companies. We will discuss how inventory management does affect company’s performance and which factors could affect the inventory turnover ratios. We analyzed five industries: pharmacy‚ automobile manufacture‚ grocery store‚ clothing‚ and restaurant
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INVENTORY CONTROL Inventory is any stock of economic resources that is stored for future us e it is commonly used to store materials‚ in process packing materials‚ spares etc‚ stocked in order to meet respected demand or distribution in the future. Although inventory of any materials is an idle resources the sense‚ it is not meant for immediate use. It is necessary to maintain some inventories lot the smooth functioning f the organization. Inventories are essential: 1. For adequate customer
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and is titled The Magdalene with the Smoking Flame. It was done in the year 1640‚ using oil paint on canvas. La Tour did this painting in France. It is currently located at the Los Angeles County Museum of Art‚ but is not currently being displayed to the public. The lines in this work of art are of a large variety. On the right side of the painting a lot of the objects are horizontal. The woman though is sitting up vertically‚ along with the flame. There are a few diagonal lines also‚ for example;
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Scope and Delimitation The scope of our study is for the computer laboratory of the said campus. The study will include Mabini Academy’s network connections and how they work. It is focused on the network management used by the IT staff as a subject for our thesis. The study does not cover any other classrooms or facilities that do not use computer connections. Here are some hints and tips in writing the Scope and Delimitation: - Indicate the principal variables‚ locale‚ timeframe and justification
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