Improving the Inventory Process Essay

The company instead needs to change to a first in First out approach to keep inventory moving on shelves and develop a new enterprise resource system (Phillips, 2008). In addition to this change which would directly affect the floor employees since it is labor intensive and involves constant moving of product, the company would implement a sales tracking portable device that directly connects the store with the ecommerce site and the distributors. Under this method, store clerks can carry the portable tracker on their person and be able to directly engage with the customer by locating products faster as well as order products directly with the consumer if the product is out of stock or not carried at that location. In addition, the sales tracker will be an inventory tracker with a minimum quantity set with distributors that can automatically order additional product to keep stock or for the company to ship excess material at one location to another location in

Enterprise resource Planning (ERP) is any integrated cross-functional software that reengineers manufacturing, distribution, finance, human resources and other basic business processes of a company to improve its efficiency, agility and profitability.1 On an initial view, an ERP system appears to be the cure for any company’s issues. The installation of such a system offers an organization the opportunity to re-structure their procedures, to coordinate branches’ systems in other geographic locations, unify information and inspire employees via granting them permission to company information. Now these chances exist at heightened costs financially. There are also implementation horrors and labor issues with which must be dealt with. A

In business, it is important for companies to be able to communicate effectively. Each department of a company relies on the other departments as they add to the value chain. One way for a company to integrate its different departments is enterprise resource planning. ERPs are software programs that allow companies to join together data across operations on a company wide basis (Jessup and Valacich 248). ERPs store company information in a common database and allow all departments to access it from one central location (Koch). Companies without ERPS may contain many legacy systems, each operating with different

In addition, the company can benefit from a distinctly higher level of productivity as well as an increase in the morale of staff as a result of putting in place this technology. In other instances, it has been argued that putting in place this technology will be key in ensuring that the company’s intranet will be a helpful aid in ensuring that each of the store’s managers and employees will be able to clearly track their sales and inventory (Zhang & Li, 2009). Considering the fact that the company is a retailer that is growing retail store, the use of iPads will be critical in ensuring an automation of the store’s processes of supply chain which will be an aid in enabling them to efficiently receive inventory and ensuring that the pricing of shelf labels as well as in performing of markdowns (Fosso et al,

The Home Depot Rapid Deployment Center’s inventory tracking system is based on a star network configuration. Each employee uses a Radio Frequency (RF) scanning gun to create labels placed on all inventory as it is received into inventory. Then, the labels on the inventory are scanned and located to predetermined locations in the building, tracking the inventory’s movement through the building. This tracking ensures that no inventory is lost while transitioning from receiving until it is placed on the correct trailer for shipment to our stores. Another function of the RF guns are to track the work being performed by the employees to compare against a predetermined set of standards. This data tells a story of how effectively each person is completing

Wal-Mart currently has one of the most advanced inventory management systems due to their use of RFID tracking capabilities. Every product is equipped with a radio frequency identification tag, which identifies the location and type of product in the warehouse. As the product leaves the warehouses, there are readers in place at the door that automatically recognize which products are leaving and entering the warehouse. The benefit of this is that it limits the use of employees better employed elsewhere and has impeccable accuracy, much more accurate and faster than if employees were to take inventory. The service that our product provides is to take this current technology and to implement it at a grocery stores as well as retail in the

All warehouse and logistic company strives to improve its operational efficiency to ensure all transaction runs smoothly. Technology and materials handling revolution have become significant catalysts in the evolution of smarter and efficient warehouses. Yamato Transport needs to leverage technology that can give them access to actionable information that can be used in real-time. Identify whether workers needs to have access to mobile technology such as smartphones or other technology. In addition, software solutions also can give warehouse administrators a outlook of customers, orders and inventory, as well as computerize warehouse processes effectively. (Dragan,

Enterprise Resource Planning is an information system that serves all departments within an enterprise. Overstock utilizes an Oracle bases product to reduce critical response times and to improve the customers shopping experience. This was implemented in 2008. “A component of

Expanding product offering—to develop an integrated approach to distribution management utilizing technology such as PDA devices and GPS

A common way of decreasing the amount of inventory a business holds on a daily basis is implementing a just-in-time inventory process. A Just-In-Time inventory system means that the business gets the materials for a product, as they are demanded. “The electronic data

In simpler words, an ERP is a massivesoftware architecture that supports the streaming and distribution of geographically scattered enterprise wide information across all the functional units of a business house. It provides the business management executives with a comprehensive

The entire organization relies on the linked inventory management and point of sale systems (POS) to maintain their standards for business and sales. Walmart has used different methods to improve inventory tracking system (Mathews, 2006). These resulted in decreasing the out of stock grocery store and empty shelves problem that leads to a better customer satisfaction. In addition, Walmart improved the inventory level management system by using advanced information technology systems and communication systems to effectively track sales and merchandise inventories in stores (Greenspan, 2015) . The store level information system allows suppliers to be notified as soon as items are purchased. Retrain employees in charge of inventory to ensure proper

ERP stands for Enterprise Resource Planning. ERP is one complete system to rationalise processes and data across the whole organisation, so business decisions can be data driven. The perception of ERP is a joint database that supports numerous purposes used by different business elements which in practice this means that staffs in different departments for example, accounting and sales can

The ever rapidly advancing technology of this day and age causes many changes throughout the world. Businesses are no exception; the introduction of new technology within a company effects numerous departments. The purpose of our business is to discover ways of saving our company money, time and resources. By implementing a Vending Machine Inventory Control System, the Maintenance department will experience the greatest impact by implementing new hardware and software. By utilizing reusable tracking devices for each vending machine, we can have an accurate, up-to-date inventory. This will

Inventory itself is a list of products that a company has available for sale to customers. So what is Inventory Management? By definition according to BusinessDictionary.com, “Inventory Management is policies, procedures, and techniques employed in maintaining the optimum number or amount of each inventory item”.