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Inventory Essay Topics & Paper Examples

Hazel Case

1.Hazel’s customers will most likely judge her quality based on how well their lawns are doing and by looking at the state of her other customers’ gardens as well. The customers will also weight the services she provides with the price she’s asking for. And the most important is her knowledge about gardening and how committed she is. Lawns should be taken care of regularly so she should manage her time precisely not to miss an appointment or neglect a certain garden. 2.a. Like any other business forecasting is a vital part of the operations. Forecasting is needed to manage inventory, time and cash expenditures. With forecasting Hazel will be able to predict demand thus will be able to book…

Home-Style Cookies

In this case study, the focus revolves around the Lew Mark Baking Company. The Lew-Mark Baking Company according to the case study is from a small town in western New York. Lew-mark Baking company operates in New York and New Jersey. It employs around 200 workers in a mainly blue collar, informal atmosphere. In my paper, I will answer several questions about operations for this company The Cookie Production Process When describing the cookie production process for Lew-mark baking, it is best described as using the batch processing system. The batch processing system can best be described as the execution of a series of programs (“jobs”) on a computer without human interaction. “Batch Processing is used when a moderate value…

Inventory System for Gamot Publiko Drugstore Document

1.1Background of the Study It has been disclosed during the interview that Gamot Publiko Drugstore needs a computerized inventory system. The company’s current inventory monitory system though works for them has to automate. A simplified computerized inventory system will be very helpful to the company since this will expedite its inventory workflow as well as generate very timely reports needed by the management for its evaluation and review and overall decision making. An inventory control system is a process for managing and locating objects or materials. In common usage, the term may also refer to just the software components. Modern inventory control systems often rely upon barcodes and RFID tags to provide automatic identification of inventory objects. In an academic…

Pro-Forma Statements

B1. Analyze Simulation Results A budget is a financial plan which is expressed in real numbers, typically in monetary units, which set the expectations for the expenses the company will incur to reach its goals, and management objectives. A good budget uses forecasts to determine what amounts should be used to reach desired efficiency and profitability. Budgets can be used to determine whether a not a process is working effectively, whether or not changes in operations need to be made in order to reach goals, and can help solve problems before they occur and help make changes when necessary. Budgets are important because they provide a quantitative measurement to establish goals, coordinate efforts and departments, and help to realize changes…

The Financial Detective

This article explains that companies with certain industries tend to have similar financial make-ups. This is because companies within an industry face many of the same economic forces. Some of those economic forces would include government regulation, consumer sentiment towards the product or service, consumer demographics, and international appeal and competition. However, when you take a deeper look at the companies within the industry you will see differences in their financial statements because companies must tailor a competitive strategy to differentiate them from others within the industry. This article asks us match a description of two companies within the same industry with two sets of financial statement data. Health Products. The world largest prescription-pharmaceuticals company (LPPC) is related to the…

Foundation Broad Cost Leader

This practice exercise will help you understand the relationships between business strategy, tactics, functional alignment, and the Foundation® simulation. We will use the Chester Company for this example. (During the practice rounds, each company is assigned a different strategy.) You will execute your plan by inputting the decisions described below. At the same time, your competitors will execute their assigned plans. The practice exercise will take three rounds As each round is processed, you will evaluate the results and then input the next round’s assigned decisions. Upon completion of the practice rounds, the simulation will be reset to the beginning. You can then create and implement your own strategic plan for the actual competition. Executive Summary The Chester team will…

Hcl Project Report

Before I begin my documentation I must thank all the people behind the successful completion of my project. I am especially thankful to my industry guide Mr. Vinod Rai for his valuable and enlightened guidance. I am highly grateful to him for providing me an opportunity to undergo the project in his presence. Despite his hectic schedule he showed a keen interest in my research and helped a lot in broadening my vision for the topic. My thanks again go to him for providing me all the required help to compile the data and other information to materialize the study. I am also grateful to my faculty mentor Mr. Tarun Kumar Vashisth for his guidance and kind support throughout the…

Proposal for Inventory System

In today’s global world, access to basic and quality healthcare is crucial and imperative in order to have a good and healthy life. In view of this, access to quality and affordable drugs is a basic raw material in enhancing good and quality healthcare. It is therefore necessary and important to ensure that patients can easily get access to quality, un-expired and affordable drugs for the treatment of their diseases and sicknesses. Most importantly the efficiency with which these services are carried out can go a long way to save lives and improve upon the health status of individuals. Medisol Pharmaceutical Company Limited is a private retail pharmaceutical company established in Ghana and their main focus is to regularly sell…

Proc 5850 Logistics

1. KLF Electronics is an American manufacturer of electronic equipment. The company has a single manufacturing facility in San Jose California. (20 points) KLF Electronics distributes its products through five regional warehouses located in Atlanta, Boston, Chicago, Dallas, and Los Angeles. In the current distribution system, the United States is partitioned into five major markets, each of which is served by a single regional warehouse. Customers, typically retail outlets, receive items directly from the regional warehouses in their market area. That is, in the current distribution system, each customer is assigned to a single market and receives deliveries from one regional warehouse. The warehouses receive items from the manufacturing facility; typically, it takes about two weeks to satisfy an order…

Zara Vertical integrated Supply Chain

To analyze ZARA supply chain, it is interesting to look closely at the product design, inventory management, evaluation of suppliers and vendors, logistics management, material management, time scheduling, information systems which are the main contributors in allowing Zara to offer cutting edge fashion at affordable prices. It is also interesting to consider other key performance indicators of Zara comparing to other peers in the retail market. 3.1- Design and Production ZARA has been able to deliver fashionable and trendy cloth addressing all tastes through a controlled design and integrated process. ZARA designs all its products itself. Concurrent method design could be an adjective to the of product design process which involve the whole commercial team, designers, market specialist, procurement team…

Clarkson Lumber Case

Clarkson Lumber Company is a classic example of a privately held company that has experienced a rapid growth in sales and has reached a point where it is facing a shortage of cash to sustain the expected growth in sales in the following years. The owner, Keith Clarkson, bought out his partner’s interest in the company in 1994 for $200,000. His partner, Henry Holtz, took a note for the $200,000 with an interest rate of 11% and was repayable in the semi-annual installments of $50,000 beginning June 30, 1995. The note was taken to give Mr. Clarkson time to arrange for the necessary financing. Mr. Clarkson seems to be running the company well, evident by the constant growth in sales year…

Revenue Cycle and Control Activities

The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales, not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization, supervision, segregation of duties, access control, independent verification, and accounting records. We will discuss each department that is involved in the revenue cycle, it’s activities, and control activities.The first section discusses the departments that make the revenue cycle , starting with Sales Department and ending with Billing Department, knowingly that collections must be received and…

What Are Inventories?

Inventories constitute the most significant part of current assets of a large majority of firms situated throughout the world. On an average, inventories are approximately sixty percent of current assets in public limited companies as well as in certain organizations where the inventory management is found to be very poor. On account of the large size of inventories maintained by the firms, a considerable amount of funds are required to be committed in them and it is, therefore, absolutely imperative to manage the inventories efficiently and effectively in order to avoid unnecessary investments in them. An undertaking neglecting the management of inventories will be jeopardizing its long-run profitability and may fall ultimately. It is possible for a company to reduce…

The Just In Time Inventory System

The Just In Time (JIT) inventory system is an inventory strategy used by businesses to increase productivity, quality of product and sales, while decreasing labor costs and space. JIT allows a company to purchase materials only as needed to meet actual customer demand. When using JIT, inventory can be reduced to the bare minimum, even to zero. To successfully implement the JIT inventory system you must carefully schedule material to arrive when needed at the correct time. There are advantages and disadvantages of the JIT inventory system. One advantage of JIT is the funds that were used to buy inventory for forecast consumer demands can be used for something else within the company. Another advantage is availability of space, which…

Information Systems in Scm and Erp

2.1.Introduction With the variety of requirements for information within businesses, most businesses tend to have several information systems operating at the same time. Executives require information to plan for the future, middle management require information to monitor and control whilst employees require information to help them carry out their duties. In this essay we look at information systems in supply chain management and enterprise resource management. 2.2.Discussion There are various types of information systems, these include office automation systems, transactional processing systems, decision support systems, management information systems and knowledge management systems. In identifying the use of information systems in enterprise resource planning and supply chain management, we first have to understand what these represent. 2.2.1Review of Information Systems, ERP…

Operations Management Synthesis

Product Design The products that will be made out of the given components are corrective lenses for eyeglasses. The product will have the following features: a. Corrects near-sightedness or far-sightedness, whichever may be the case, through varying curvatures of the lenses, for different grades b. May be rectangular or circular in overall shape c. Around 1.5 inches in length, 1 inch in width d. Clear and transparent, not dark Considering that the finished goods (lenses) are very much expensive in relation to the raw materials (marbles), it would be safe to say that much value was added to the raw materials by the process of manufacturing, as a result. Process Design and Layout Given a product with just modules and…

Sales and Inventory System on Hardware

Technology has been an aide to the world’s everyday problem. Since its development, man has learned how to maximize its potentials. It continues to give man solutions to almost anything, anywhere. In the world of business and economy, for example, there is an on-going clamor to use technology. The demand for its use is extensively high; therefore, the means to develop new technology for business use is a process. Automated Sales and Inventory Systems are commonly used in the business world since these are needed to keep and track the systems of inventories in any company. This automation is an answer to the manually operated sales and inventory systems of the past since the manual process takes a lot of…

Textron Case

1) How does Textron make money? Textron is able to make money as a result of 4 defining aspects of its business model: a. Textron is a conglomerate: by purchasing a variety of companies, Textron is able to share technology between its business units thus increasing its competitive advantage in these respective units. For instance, lessons learned in aerodynamics at Bell Helicopters can be used in the construction of aircraft at Cessna. Additionally, because of Textron’s size, it increases its buyer power and can take advantage of economies of scale when purchasing from the common suppliers across business units. b. Diversification: Textron has purchased a variety of companies that complement one another such as different target markets (regular consumers vs….

What Is Fund Flow Statement?

Funds flow statement shows the changes in the financial position between two balance sheet dates. It represents the movement of funds and the movement can be inward called as income or receipts. In case of outward movement, it is represented by expenditure or payments. The term, “funds” has different meanings. In the context of funds flow statement “funds” means the net working capital. Flow of funds means changes in funds position of changes in working capital. Working capital refers to that part of capital which is required for meeting the needs of current operations. There are two concepts of working capital, namely gross working capital and net working capital. Gross working capital refers to total investment in current assets. Net…

Learning Styles Inventory

Taking the Learning Styles Inventory Test was an insightful, informational, and introspective experience as a whole. It measures seven areas of standards or measure that clearly define an individual’s behavioral approach on learning – the visual, social, physical, aural, verbal, solitary, and logical learning styles. Each question within the test inquires about an individual’s leaning or inclination to harboring the outcomes of learning from each means or scenario indicated. The questions provide a learning situation where one will determine how he identifies with it, and one’s identification with each specific scenario determines how one learns through various situations. Putting oneself within each scenario allows one to review or evaluate one’s motivations in learning in order to understand clearly how one’s…

Airtread Case Writeup

1. Ms. Zhang wanted to keep things simple by assuming a stock purchase using the maximum amount of leverage available to conduct the merger, and she assumed that the acquisition debt could consist of a single tranche amortizing monthly over 10 years, but with bullet payment to bring AirThread’s leverage ratios in line with those of the industry. So from 2008 to 2012, the D/E ratio of AirThread would change continuously until the bullet payment is paid, so we expect to use APV valutation method from 2008 to 2012, since it is more efficient to adjust the PV of FCF than to figure out the annual WACC. From 2013, the D/E ratio of AirThread would be in line with the…

Barilla Spa (A) Case Study

Executive Summary Sales representatives at the Barilla SpA, world’s largest pasta producer, are seeing customers changing due to long re-order lead-time and frequent stock-outs. Even with a high inventory levels, Barilla is still not able to cope with the fluctuating demand. The fluctuation in demand is seen as the bullwhip effect that is caused by sales strategies that have been put into place that is very product focused. This causes excessive demand from week to week depending on the product that the promotion or incentive is been aimed towards. There is also a lack of data sharing and poor communication throughout the whole supply chain which does not bring visibility for production forecast. With the Just-in-Time Distribution (JITD) that was…

Bombardier Aerospace

After acquiring a few companies, Bombardier Aerospace was now faced with the challenge of how to align the operations of these companies who all had different sets of data, processes and systems. Major areas of concern were process delays, low inventory turn, inconsistent pricing and billing of materials among others. Bombardier introduced the Enterprise Resource Planning (ERP) into its aerospace division with a vision to achieve higher efficiency in manufacturing and also to significantly save cost. To assess the performance of this IT project, Bombardier Aerospace needs to consider the following six variables which are interdependent as far as success or failure is concerned. System Quality examines the desirable characteristics of an information system. These may include ease of use,…

Class or Mass Mini Case Analysis

‘Neptune Gourmet Seafood’ is worth $820 million, is the third-largest North American seafood producer and is believed to be the most up market player in the $20 Billion seafood industry. Neptune has done everything in terms of their quality and technology for improved, efficient & sustainable production. Therefore, living up to their tagline, ‘The Best Seafood on the Water Planet’. In spite of having the best quality produce and substantial market share, the company is facing inventory problems. The company has purchased six new Freezer Trawlers, thereby increasing their original level of production in threefold, from what it had been a year ago. The company’s sales executive Rita Sanchez suggests that the company must reduce their prices by 40% to…

Computer Rentals

[1.a] Using the dimensions we discussed in class, how would you describe Mitchell Gold Co.’s strategic position? Mitchell Gold competes by offering high quality products at a lower price than most makers of similar quality furniture. They offer limited variety in comparison to other makers, which allows them to be more responsive and deliver orders in a timely manner (97% on time shipment). [1.b] Consider the following description of another furniture maker’s (Invincible IPF) business: The standard product line has about 500 different items, with many of the pieces starting as stock, unfinished wooden frames imported from Europe. But the finished furniture can be as different as the imaginations of the designers, with 60 different standard finishes for the wood…

Developing Supply Chain to Deliver WOW

Zappos.com is a privately held online retailer with an extensive product category mainly including apparel, footwear, handbags, and watches. Headquartered in Nevada, it primarily operates in the US with about 1,300 employees and revenues mounting to $635M in 2008. Thanks to its strength in offering an outstanding customer shopping experience and strong corporate cultures and values related to customer service, it was the largest online shoe retailer in 2008, with a positive growth outlook. However, in the face of possible economic downturn, its underlying insufficiencies in supply chain management and operations may pose a threat to the company’s long term profitability. Nevertheless, the opportunity of possible international expansion may well be exploited to improve sales and expand the business, but…

Materials and Inventory

In the S, T, and P facilities, it has been identified that some of the manufacturing processes are related with one another. Due to the interrelatedness and the other problems seen from the different facilities, it is seen that a problem from one facility affects the others. This is observed to be especially true for the area of the management and inventory control. Materials management is oftentimes associated to inventory control and this is defined as the act of “managing the organization’s raw materials, work-in-process, finished goods, and products in-transit” (Griffin, 2002 as cited in Adam & Sammon, 2004, p. 28). The primary focus of the materials and inventory management involve being accountable for all WIP and stock, coordination with…

Inventory System

The need for computerized system in our modern time, especially on the field of business is undeniable. The manual process in a business may be the cause of poor services, unorganized data or unreliable security. In this documentation, the big differences of a manual process to a computerized system will be manifest beyond the following chapters.  The researcher, propose a computerized system to the company of I.T Mechanics. Even though they have a point of sale they don’t have a computerized system when it comes to their inventory. The proposed system, are efficient in tracking the movement of the inventory, secure all the data from any possibilities to misplace it and providing reliable reports that are easy to generate and…

History of H&M

H & M, (Hennes & Mauritz AB) is a Swedish multinational retail-clothing company, known for its trendy fashion clothing for men, women, teenagers and children. It started out as a single womenswear store in 1947, and subsequently transformed to a global company offering fashion for the whole family, and their home. The business concept is to give the customer unbeatable value by offering fashion and quality at the best price. H&M ensures the best price by having few middlemen, having a broad, in-depth knowledge of design, fashion, textiles, buying the right products from the right markets, and being cost-conscious at every stage. H&M is driven by seven core values, namely; Keep it simple, Straight forward and open-minded, Constant improvement, Entrepreneurial…

Treetop Forest Products

Treetop Forest Products is experiencing several key problems within the packaging department. Packaging productivity has been in a decline over the past two years and effecting the rest of the departments negatively, all other departments are up significantly but unable to reach their total potential due to backups and quality issues in packaging. The employees are minimally supervised to times of a total lack of supervision, this is resulting in poor work performance. Employees are experiencing severe lacks in motivation and have begun to adopt norms not fitted with the company. Inventory costs are on the rise and the risks of damaged stocks are showing potential increases. The quality of the appearance of the finished products is also decreasing, resulting…