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Effective Inventory Control and Management: a Case Study of Ikea

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“EFFECTIVE INVENTORY CONTROL AND MANAGEMENT: A CASE STUDY OF IKEA”

UNIVERSITY OF WALES

JANUARY 2012

Table of Contents
ABSTRACT 4
CHAPTER – 1 5
1.1 INTRODUCTION 5
1.2 BACKGROUND OF THE ORGANIZATION 7
1.3 OBJECTIVES 8
1.4 RESEARCH QUESTIONS 8
1.5 PURPOSE OF THE RESEARCH 9
1.6 DELIMITATIONS 9
1.7 TARGET GROUP 10
1.8 JUSTIFICATION FOR CHOOSING THIS RESEARCH TOPIC 10
1.9 PROBLEMS FORMULATION 11
1.10 OVERVIEW OF THE DISSERTATION 11
2.4 INVENTORY CONTROL 17
2.5 APPROACHES USED FOR INVENTORY CONTROL: 17
2.6 INVENTORY CONTROL SYSTEM 19
2.7 INVENTORY MANAGEMENT SOFTWARE: 20
2.7.1 Components of the software: 20
Asset tracking 20
Barcoding 20
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After that collects additional information from the operators via fixed terminals or mobile computers.

This whole process is used for the automation of sales and satisfies the consumers to fulfill his needs. This all information is recorded in a system and then workers are required for packing and shipping of the order to the final consumer. In and outward hardware materials are also maintained by the inventory system. Various wireless and mobile terminals are used at the time of transactions moment and real-time inventory control system.

The name IKEA stands for “Ingvar Kamprad Elmtaryd Agunnaryd”. Ikea is one of the largest and well-known companies for home furnishing. The main objective of IKEA is to provide good quality home furnishing products at comparatively lower prices. The main core specialized areas of IKEA is designing, buying and selling home furnishing. At present there are more than 300 IKEA stores that are located in 37 different countries and are enhancing its number continuously. At present there are 127 000 employees are working in the company in the entire world such as in Europe, North America, Asia and Australia. This research study is mainly concerned with improvement of inventory control systems in order to lower inventory levels at IKEA.

Most of the companies at national as well as international level are facing huge challenges due to immense competition in the market. The challenges

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