Supply Chain Management _______ Types of inventory * By stages of production and value added * Raw materials (RM) * Work-in-progress (WIP) * Finished goods (FG) * They’re not equally costly * Finished goods are more valuable * They need to be managed differently * By function * Cycle stock (working stock): amount of inventory that you expect to sell * Safety stock (buffer stock): amount of inventory that you don’t expect to sell *
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1.0 INTRODUCTION 2 2.0 LITERATURE REVIEW 3 2.1 Forecasting Inventory 3 2.2 Aggregate Planning 3 2.3 Capacity Planning 4 2.4 Materials Planning 5 2.5 Just-in-Time (JIT) 6 3.0 ORGANIZATIONAL BACKGROUND 8 3.1 History of the Company 8 3.2 Introduction to the Product 9 3.2 COMPANY SCALE 11 4.0 ORGANIZATION ’S PRACTICE AND POLICY 12 4.1 Inventory Management System 12 4.1.1 Inventory Replenishment 14 4.2 Inventory Holding 15 4.3 Adopted Model 15 4.4 Contingency Plans 16
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1.0 Introduction Point-of-Sales or POS with Inventory System‚ it can help the company in billing‚ monitoring the stocks‚ and issuing of receipts‚ importing all the product and goods in a system by using databases. Large companies used inventory system even small kind of business. As we observed‚ Gee Cee bakeshop Branch V. Tiomico Corner Gen. Hizon CSFP having a difficulties in billing and monitoring and issuing of receipts and they are finding ways or solutions to improve their business and make
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AN INVENTORY MANAGEMENT SYSTEM FOR ITALFIL PORCELAIN TRADING COMPANY Arceli M. Basi Holy Angel University An Inventory Management System for Italfil Porcelain Trading Company Every organization whether manufacturing or trading in nature constantly strives to determine the appropriate logistic system and to maintain optimum inventory to be able to meet its
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Inventory Management Apple Inc. and Dell Inc. XXXXXXXX BUS430 Operations Management OM4 Strayer University Dr. James Collins June 13‚ 2014 Introduction Every company irrespective of the type of product or service that it sells holds a form of inventory in its daily business operations. Inventory is generally held in the form of finished goods‚ work in progress i.e. unfinished products as is normally the case in manufacturing and raw materials. Inventory is considered a current asset in
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“Computer Laboratory Inventory System” This chapter will review on the technologies that relate to the needed research and the current or related projects that have been studied. 2.2 Definition of Terms/Concepts 2.2.1 Barcode Inventory System The term “barcode inventory system” is generic and encompasses avariety of different applications and industries. The term is commonly used in warehousing‚ logistics‚ and distribution; it can also be used in retail point-of-sale‚ manufacturing‚ and various
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assets in relation to their sales. It would be guarding against running out of stock or of running short of cash‚ or losing sales because of a restrictive credit policy. Working capital policy is reflected in a firm’s current ratio‚ quick ratio‚ turnover of cash and securities‚ inventory turnover and days sales outstanding or DSO. The ratios that are related to SKI‚ has large amount of working capital relative to its level of sales. An example would be the sales/inventories = 6.00 versus 8.00 for an
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Inventory Management What is Inventory Management? Inventory Inventory: A stock or store of goods. Examples Manufacturing firms carry supplies of raw materials‚ purchased parts‚ finished items‚ spare parts‚ tools‚.... Department stores carry clothing‚ furniture‚ stationery‚ appliances‚... Hospitals stock drugs‚ surgical supplies‚ life-monitoring equipment‚ sheets‚ pillow cases‚... Supermarkets stock fresh and canned foods‚ packaged and frozen foods‚ household supplies‚... The
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Part One: Inventory Management and its role within the Supply Chain Inventory management is a method through‚ which a business handles tangible resources and materials to ensure availability of resources for use. It is a collection of interdisciplinary processes including a full circle from the demand forecasting‚ supply chain management‚ inventory control and reverse logistics. Inventory management - is the optimization of inventories of manufactured goods‚ work in progress‚ raw materials
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1. Locate a firm that incorporates inventory management. Identify the type of inventory system (fixed order quantity system‚ fixed order period system‚ or a hybrid system) it uses. See attachment. This company‚ the RICH-SEAPACK CORPORATION changed over to the following inventory management system: -ABC‚ Activity based costing inventory management system. Usually refers to costing method that breaks down overhead costs into specific activities (cost drivers) in order to more accurately distribute
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