Inventory Control College Essays Samples For Students

Abstract

Problems in United States and other countries have an effect on the performance of business operations. These problems represent the general economic trends and factors that have an influence on businesses. General economic trends play a vital role in forecasting sales for businesses. The overall economic health, income levels and safety concern are critical factors that affect the extent of a business performance. These factors include inflation, efficient inventory control, interest rates, cooking the books, unemployment rates, consumer confidence intervals, shifting revenues and expenses and social political environment among others. Increased consumption levels and efficient inventory control systems as evidenced in ...

Introduction

Severe competition and market share increment in the world has made companies struggle to succeed in achieving their customer’s service preferences and meet their expectations. Companies have invested a lot in the use of supply chain techniques to achieve competitive advantage. According to supply chain management is defined as the use of several strategies that are operated to efficiently integrate suppliers, retailers, manufacturers, and customers in selling, buying and distributing goods and services effectively and efficiently while maintaining the service expectation while inventory control management is the proper management of information with the objective of maximizing customer service, efficiency ...

Inventory Management in Supply Chain

Inventory Management in Supply Chain

Inventory management

Inventory management is about specifying the percentage and shape of the stock goods. Inventory management is necessary on several places to keep the orders, store them and use it for production use. Inventory is the asset of the company and it remains an asset until it is sold and cleared (Salvo et al, 2002).

Inventory system

It is a system in which a company check over its stock. The activity done by the employees to check the company’s stock is known as inventory system. Inventory control majorly refers to logistics, operations management and supply chain ...

Business Overview

Kudler fine foods vision commits to the need of providing quality services to customers, with customers taking the first priority in its activities. Kudler fine foods operate mainly in San Diego with shops in California and many other places in the United States of America (Phoenix, 2010). The business endeavors to be the premier food outlet for the people in the area in search of cheese, meat, and other foods all under one roof. The business has three shops in the state of California and considers their activities as free from direct competition. However, the need for competitiveness in ...

Review of the Current Situation

Calculations:
Average Inventory for plastic brack product line (which is 85% of total construction hardware inventories = Beginning Inventory + Ending Inventory/2
Average Inventory= 295,200*85% +271,000*85%/2 = $240,635
Inventory Turn = Cost of Goods Sold of Construction Hardware/ Average Inventory
Inventory Turn= 1,874,000/240,635=7.79 ~ 8 days
These calculations suggest that the average inventory is worth of $240,635 and the inventory turnover is 8 days, which means that the finished inventory is delivered for sale to the customers after eight days of moving into the warehouse. It suggests to me, ...

Management Practices

Management Practices

Introduction

Management is an important activity for logistics firms such as JKL Logistics Company, considering that the scope of business logistics is very broad. According to Blooma, Genakosb, Sadunc and Van Reenend (2011), the management practices are considered as being contingent to any business situation in raising efficiency and setting the right track to be pursued by the business. In recent years, innovative management practices have emerged in the logistics business domain with the focus being on a two-sided relationship between customers and suppliers. In regard to JKL’s logistics management principle, management concepts have focused on the ...

The article on The Air Plane Game is very enlightening and makes it easier to understand the different aspects of lean manufacturing and lean accounting that would otherwise be challenging to understand. The game was an interesting one even for students who had no knowledge of the lean processes. After going through the game, the understanding of the lean processes become practical and a student is able to point out the various challenges that are encountered in the manufacturing process and how they can be overcome by both the participants and the management. In this case the management was ...

Patient Blood Management (PBM) refers to an evidence-based and multidisciplinary approach of adjusting and optimizing the type of care that patients receive, especially those who might need a certain type of blood transfusion. There are numerous types of blood transfusion procedures that can be done today; and there are many medical conditions that may require one to be executed. Each condition and blood transfusion process has its own set of indications and contraindications (plus precautions) and this is what highlights the need for a standardized and high quality PBM approach.
Previously discussed topics such as cross-matching, electronic release, and ...

Introduction

Occupations safety and health (commonly abbreviated as OSH) is an important aspect of any professional environment. The purpose of this toolkit is ensure that safety, health and welfare requirements of the people, who are employed by the organization, are duly protected. In addition, among the purposes of OSH include the protection of outsiders, customers, the natural environment and other stakeholders, who may be potentially affected by any unforeseen emergencies of a business institution, or by the dangerous production process of its industrial units (Roughton & Mercurio, 2002).
The present case focuses on the analysis of occupational security procedures followed by ...

Inventory Methods used by Corvette

Description of Corvette Assembly Plant
Corvette is a branch of General Motors situated in Kentucky and is the main assembly plant behind manufacturing of the Chevrolet brand. General Motors began operations in the assembly plant in 1981 and major upgrades have taken place since then. With over 30 years of experience in the manufacturing industry, the assembly plant aims to raise the performance of sports cars by ensuring that the workforce available works in harmony to bring the desired quality. Focus is on the design, performance and the technological advancements exhibited by the cars assembled at the plant. The ...

IT Management

Objective
Technology is one of the cornerstones for the success of any business organization in the contemporary market. However, technology is dynamic in nature, and changes rapidly from time to time. To keep up with these changes, an organization should keep updating its technology; otherwise, its technology becomes obsolete. This is particularly relevant in the case of publishing companies. In this case, the objective is to assess the implications of hiring a new leader to oversee the transformation of the information technology department in the Penguin Group Publishing Company. The company also intends to implement a reorganization and downsizing strategy ...

- Among the several application areas supported by the enterprises systems, the earliest supported application pertains to the management of demands. ERP started out in the 1960’s as inventory control packages, became Materials Requirements Planning (MRP) in 1970’s, Manufacturing Resources Planning (MRP II) in the 1980’s, Enterprise Resource Planning in 1990’s and today known as the Extended Resource Planning. (Rashid, 2002) The main focus of the MRP was to manage the planning and scheduling of required materials of products with complex compositions. It uses production requirements, inventory levels and sizing procedures as a contributory factor in ...