Integrated Inventory Control System research

Published: 2018-11-07 04:31:39
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Middlebury College
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The internal and external environment analyses

The inventory control system is used in the evaluation of the different sales and marketing options that the company has and the way each of these elements can be used in the attainment of set goals. As a result, it entails the internal and external environment analyses that also are a representative of the connection the company establishes with the shareholders. For the case of Holloway, the inventory system takes into account the complete cycle of the processes from the time the management receives an order to the time the order is collected by the customer. The money trail is also integrated to ensure transparency and reduce possible issues that could affect the projected outcomes of the business. 

Inventory is the first element that the company will have to make significant changes to ensure that it meets the demands of the customers it serves. The process begins with the mainframe that is controlled by the management of the company. The mainframe offers access to all the other operations including the financial segments. The first elements, however, are external and internal procurement, which define the products within the company and those that are released to the customers. The external procurement systems include the information and processes that are done with the company to attain the resources needed in the production process. On the other hand, the internal procurement options are those that are geared towards providing the customers with quality products. Therefore, with the already identified working orders within a day to be between 300 and 500, the company can maximize on the production process to ensure that all the products are produced and supplied in an efficient way that takes into consideration the current supply chain system and the alternatives that can assure positive outlook and returns. Both the internal and external procurement actions are controlled as inventories in the organization. The receipts, the warehouse storage, and the supply of the products within the established networks are critical in the definition and application of standard systems to use in increasing the reach of the products to the customers. However, the outcome of these two procurement options is different, with the internal procurement option leading to the determination of sales and consumption of the products within the market while the external procurement option is determining the returns and the balance for the expenses in acquiring the necessary resources for production. 

Master Detail Order Entry Form

Order Details

   
 

Order No

Order #1

Order Date

3/27/2017

 
  

Description

  

Order Items

Item Name

 

Item Code

 

Quantity

 

Rate

  

Item Name

Item Code

Quantity

Rate

TOTAL

Product 1

4356655667

4

12.5

50

Product 2

2324564011

6

17

102

  

SAVE

The master-detail order entry form takes into consideration the individual purchases made at the facility and the other centers established by the company. The entry form also is based on the specific orders and codes for the items being purchased to reduce the evaluation process and the management of the inventory at the facility. This is critical in ensuring that the information about the products and their circulation is also made effective. At the end of the form is an option to save, which also prints a receipt while another digital record is stored in the mainframe. This is meant to reduce the redundant work in going through all the purchase records and receipts to determine the number of sales made and the records retained. At the same time, with a digital record of the products, it becomes easier to track the inventory and make comparisons to evaluate the number of products already sold and the amount retained at the warehouse. 

Inventory Reorder Report

Supplier

Code

Store Code

Description

QoH

Reorder Trigger

Rec Order

Cost

Last Cost

Last Sold

Sold Last Week

Sold Last Month

Sold Last 2 Months

EPZ Electricals

EPZ-1547

1248

Electricals

4.0

10

18

0.8

2.5

Not sold in last 60 days

0

0

0

Not Racked

 

2349

Electricals

1.0

7

25

2.5

1.25

Not sold in last 60 days

0

0

0

Supplier A

 

7601

Electricals

4.5

9

10

2.5

2.5

Not sold in last 60 days

0

0

0

Supplier D

MN-34962

8734

Electricals

1.0

4

13

3.2

0.75

Not sold in last 60 days

0

0

0

Supplier E

SP-19785

7640

Electricals

3.0

5

15

1.5

2.25

Not sold in last 60 days

0

0

0

Not Racked

 

7653

Electricals

5.0

2

5

1.25

1.75

Not sold in last 30 days

0

0

0

All the products attained or purchased by Holloways are electrical. The suppliers are different considering that the customers also differ from individuals to corporations and contractors. The reorder list presents information regarding particular orders within the inventory already attained that are either not being sold or are being retained to ensure that if the stock falls. The amount of the item will be maintained or reordered. In the inventory of Holloway, five out of ten suppliers have their products on the reorder list.

sheldon

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