Inventory management essay

Lead or Procurement Time. It is the quantity to be purchased at any time.

Inventory management essay

Properly managing inventory is essential to the success of every dealership. Inventory Management system provides information to efficiently manage the flow of materials, effectively utilize people and equipment, coordinate internal activities and communicate with customers.

In the current scenario of our country few departmental stores are automated and some are semi automated and many are still having manual system for keeping the record of inventory. In manual system the inventory management system is quite time consuming and tedious.

Semi automated system is also not well organized.

Inventory management essay

People still prefer to follow the Inventory management essay method even if there is automated system to keep the record. We have found that employees first of all record all information in there ledger before entering in computer system.

Essay on Inventory Control | Materials Management

They are using both ways to keep the record of stock purchase, inventory, sales monitoring, etc. Following this method is very time consuming and tedious. It has many drawbacks as there may be mistakes while recording large data and this may disrupt the important transaction. So, in this project we are trying to make inventory management system which will help employees to keep record of inventories in systematic way and help them produce report about the inventory or stock currently available in their store in automatic way to help then sale forecasting, decision making about the stock etc.

These departmental stores use semi-automated method for the records. Part of the record is recorded manually in paper. The total information of the product which was recorded manually can now be automated using this system.

The full information regarding the product along with its inventory information can now be automated. The system provides GUI features which is user friendly. Also, searching information about a particular product from thousands of records can be a very hard job.

So, one of the best solutions to this problem is keeping record of the products in computerized Database Management System. The computerized Database Management is made using combined features of mysql and Web Page designing.

This can help the business enterprise to keep the record of each and every product in computer which is far more efficient than keeping record in semi-automated manner. In this system the employees will also be able to view the information about the product available in the store online which will help to increase the efficiency of work.

This system will also help to maintain a proper merchandise assortment while ordering, shipping, handling, and related costs are kept in check. Significance of the solution The computerized Inventory Management System for the departmental store will be helpful for the smooth operation of the department.

It will help to keep records of products efficiently, reduce time to search records; will keep the record of the products of the store thus simplifying the process of updating records. The GUI features provides good user friendly tools.

This system will help Maintaining a wide assortment of stock--but not spreading the rapidly moving ones too thin and increasing inventory turnover--but not sacrificing the service level. SCoPE This Inventory Management System for departmental store is being developed with reference to two business enterprises in order to keep record of the entire product with their proper stock maintenance.

But the scope of this inventory management system is not limited in these stores only. It can also be apply to any other following semi-automated recording with some modification.The relationship between inventory management and transport is a complicated an interesting one.

A lot of attention has been given to this relationship. Through logical thinking it can be deduced that there is a direct relationship between transport and inventory management. The companies often aim at reducing the inventory since according to the Toyota production system; there are seven wastes that lead to incurrence of costs by organizations.

Inventory is a source of the wastes according to the philosophy (Young, ). Adept inventory management systems are important sources of operational efficiency.

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Free Inventory Management Essays for students. Use MyEssayServices papers to help you. Inventory Management Essay example. Sample Essay on Inventory Management. Free Management essay writing. Buy custom written essays, term papers, research papers, dissertations on Inventory Management Essay at But the scope of this inventory management system is not limited in these stores only.

It can also be apply to any other following semi-automated recording with some modification. Read full document ← View the full, formatted essay now!

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