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INVENTORY

Free download from Prezibase.com
by

Day Ann Delgado

on 29 August 2016

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Transcript of INVENTORY

1
What is INVENTORY?
Originates from the French word ‘Inventaire’ and a Latin word ‘Inventariom’ which implies a list of things found
“ an itemized list of goods or valuables”

Categories of Inventory
Reasons to Hold Inventory
Techniques in Inventory Management
BEST PRACTICES IN INVENTORY MANAGEMENT
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What is Inventory Management?
STOCK ROTATION
SYSTEM CREATION
LABELLING
INVENTORY MANAGEMENT SOFTWARE
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Production Inventories
INVENTORY
GROUP 6
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Inventory Related Problems
Too much of some product

Experiences stock outs of some products

Doesn’t know what is in stock

‘Ensure that you have the
right quantity of the right item in
the right location at the right time’
Best Practice
In-process Inventories
Finished Good Inventories
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MRO Inventories
- Meeting Unexpected Demands
- Smoothing Seasonal Demands

- Taking Advantage Of Price Discounts

- Hedging Against Price Increase
- Getting Quality Discounts

The practice of planning, directing and controlling so that it contributes to the business’ profitability
“The art and science of managing to have the RIGHT PRODUCT, at the RIGHT TIME and PLACE, in exactly the RIGHT AMOUNT, at the BEST POSSIBLE PRICE”

a new arrival stocks are placed behind any existing stocks of such items.

must be specific to the type of business

a firm having a huge warehouse of merchandise must have an appropriate and clear labels
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Can’t find the material in warehouse
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STOCK LIST
Separate STOCK from stuff

FIRST IN, FIRST OUT
STOCK

Best Practice
JUST IN TIME
- Buy materials only when needed

- Make and buy small quantities
- Balance flow through supply chain

- High reliability for supply, products and processes.

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Key Points
Best Practice
JUST IN TIME
KANBAN
a “PULL” system of production or material control

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Best Practice
Responsibilities:
INVENTORY MANAGEMENT PERSONNEL
Inventory specialist manage all merchandise items that are on hand and in transit.
Perform adjustment
Manage returns
Validate merchandise
Implementation
The key to Just in Time Systems is the ‘pull’ approach to controlling the manufacturing
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MANUAL
SOFTWARE
MANUAL
SOFTWARE
INVENTORY MANAGEMENT
Inventory Count
Computation
Reports
User
Time
GOAL
To help you manage your inventory more easily.
HISTORY
Archon Systems Inc. is a privately owned and operated Small Business Software company, headquartered in Toronto, Canada.
What is inFlow Inventory?
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REVIEWS
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REVIEWS
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SIMULATION
BENEFITS
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Effects of STOCK OUT
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899,741 users | 121 countries
is an inventory management system designed specifically for item-based businesses.
Tagle | Esquerra
ELIMINATE STOCK OUT
stock out is when an item that is to be used for a customer order or for a production order is not in stock when required.

Customers agrees to wait for the product
Customer back orders the item
Customers cancels the orders
Customers cancels the order, and is no
longer a customer
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BENEFITS
Speed and accuracy
Paper consumption
Document generation
Timely data
Time savings
Monetary savings
BENEFITS
SALES BENEFIT ANALYSIS
COST BENEFIT ANALYSIS
inFlow
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Projected expenses for 5 Years
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inFlow Contact Information:
Nextar
inFlow
Business Hours
Monday to Friday (10am to 6pm)
Live Chat
Available during business Hours

Email
info@inflowinventory.com

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inFlow
Full transcript