Inventory Analysis : Joe 's Chicago

For Trader Joe’s, they are able to demonstrate the importance of each responsibility in the management process by establishing a plan to serve quality products with natural ingredients, inspiring flavors, and buying direct from the producer whenever possible,. They also organize their stores to limit its stock, carrying about 1,500 to 2,000 products compared to retail mega-markets with 25,000 to 45,000 products. Through leading, Trader Joe’s support their future leaders by hiring managers only from within the company. Future leaders enroll in training programs called, Trader Joe’s University that foster in them the loyalty necessary to run stores according to both company and customer expectations. Lastly, Trader Joe demonstrated the responsibility in controlling by placing standards to sell natural based ingredient products, as well as striving to offer the highest quality type foods.

Then they will prepare the food ready to cook it and will store the prepared ingredients safely at the correct temperature. They will then wait for the person at the end of the chain – the consumer – to come to the restaurant to cook it for them. This is good for the producer because money will track back to them through the restaurant gaining the money from selling the meals. The money goes into the restaurant from customers pockets, and then the restaurant will use a portion of this money to re-purchase some supplies from the producer. This is when a good working relationship will develop between them as they will gain more sales and earn more money back.

Menu patterns: the types of menu are change by seasonal and they go by weekly so its 4-week rotation for every season, so they are switching up. The reason for changing the menu is more financial because it gives them the ideas to know what they work with. For example, when they are ordering the menu they’re going to know how much they need items such as chicken Breast or others. The manager doesn’t want to go over ordering, also because of the budget. For example, each resident has $6 a day, so they breakdown $6 a day per resident and add it all together then multiply by how many days a month, then they divide in half to get two orders. A lot of fresh food after 2 weeks it starts getting soggy and soft and the milk after 2-weeks is going

Alaskan Crab only “makes up 8% of the total sold in the US” (Stewart) which leaves room for many other King Crab companies to make profit. When something puts their fishing season on hold, which only lasts the fall (Red), profits and jobs desperately hurt, and it does not matter whether it is because of government or weather. While the King Crab market was already predicted to crash , Japan also had their holiday market ready for imports to begin October 15th (Red), yet the shutdown did not end till the 16th which led to predicted drops in profits. Needless to say Alaskan King Crab had a bunch on the line with Japan if this shipment were not to

Tim Horton's one of North America's largest coffee and fresh baked goods chains. Today, Tim Horton's has more than 2,200 stores across Canada and a steadily growing base of 160 locations in key markets within the United States. Our project is focus on the Inventory management of Tim Horton's which located in Bay Shore, 2970 Carling Ave. Inventory Management is the practice of planning, directing and controlling inventory so that it contributes to the business' profitability. Inventory management can help business be more profitable by lowering their cost of goods sold and/or by increasing sales.

Office Depot uses multiple inventory strategies to order products. 90% to 95% of goods are ordered through automatic replenishment, manual replenishment, pull replenishment, and global sourcing are also used depending on channel, volume, velocity and cost. (Office Depot, 2015). The accuracy of the inventory from both a DC and store perspective is critical to the organizations success. Heizer and Render (2014) state that record accuracy is a prerequisite to inventory management, production scheduling, and sales. Accuracy is maintained by either periodic or perpetual systems (p.479). In Office Depot, the stores are required to cycle-count technology items such as laptops, desktops computers, and tablets five days a week. Discrepancies are entered in the system and bounced off the local DC’s on-hand inventory discrepancies. Office Depot is a “blind receive” organization meaning the stores receive pallets of products and simply unwrap and put them away. The only way a store knows if a product is missing is through the cycle-count program. This system was put into place to speed up the receiving process and eliminate unnecessary steps once the product was received at the store level. Office Depot conducts a full physical inventory once a year through a third party and trues up the inventory shrink at this time.

availability of substitutes 1, and the threat of retaliation from incumbents (by lowering price, for

While doing the Holland Inventory Assignment I found myself confronted with questions which varied in difficulty for me to answer. Some required me to look deeper at myself and what I truly enjoy doing and helped me explore more about my interests than I have done already. After finishing the set of questions I chose to take the optional 20 picture/painting survey as well. The optional survey was used to get a more accurate read of my personality, and also contributed to my final results. I received the code ISA at the end of the activity which is created from three groups; Investigative, Social, and Artistic. When I looked over my results I found it to be quite accurate of how I already perceived myself, and was nice to be given extra reassurance of myself from the test result. The Investigative part I found related to me because I view myself as a person who asks a lot of questions and is very interested in how things work or come to be. I enjoy going into depth with research about things that I find appealing or interesting, and gain knowledge about that subject. The social reading from the test fits me as well because I love being around people. doing so gives me more energy and makes me feel more comfortable a lot of the time. I have a passion about helping people and find it easy for people to come to me about problems or for just good company. Creating things and expressing oneself is something I find important personally and throughout society as a whole. I have

In the inventories section, they are directed at the lower of cost (primarily moving average cost) or market. Starbucks records inventory reserves for obsolete and slow-moving inventory and for estimated shrinkage between physical inventory counts. According to trends, inventory reserves are based on inventory obsolescence, historical experience and application of the specific identification method. As of September 27, 2015 and September 28, 2014, inventory reserves were $33.8 million and $31.2 million, respectively. We see that the carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).

Considering these above mentioned features, to take over the company, it is essential for Joe Jr. to take due attention to a proper approach for inventory management, calculate an appropriate inventory level for each product, making it in line with the company’s business strategy, the market demand in the upcoming period:

The fish market is a 20 billion dollar industry and one company has played a major role. Neptune Gourmet Seafood is an 820 million dollar corporation that has just recently invested heavily in technology, allowing their trawlers to move further out to sea to fish and maintain the quality the company has been known for. In doing so, they have found themselves reaching a decision point. Even though they have been going further out to sea, they have been bringing back larger than normal catches and because of this, their warehouse finished goods inventory has become bloated, with twice the normal supply on hand. This paper will address the decision process. In doing so we will define the problem, look at the decision

Inventory control is the biggest challenge because of inappropriate inventory management system. There is a requirement of proper food service for better inventory control and also for identifying the important requirements. There is a need to develop the inventory methods for the products and with a standard inventory management company should try to minimize the wastes in terms of future. (Gartenstein, 2012)

For our Gemba project, we decided to analyze the order fulfillment procedure for Cup of Joe, a coffee shop located in the Lennox Town Center. In order to capture the establishment’s peak hours of business, we primarily visited during the hours of 9:00am-12:00pm. We focused our attention on orders for baked goods, coffee, and espresso drinks, as these products are the shop’s main source of revenue and reputation. On several separate mornings we were able to observe an average of 125 orders over three hours (a takt time of 1.44 minutes). In the evening, there were often less than a dozen orders every hour. Since every order is slightly different, we have described the average order and the steps in the process that are consistent in almost every situation. We have identified multiple areas for improvement, which are referenced in the sections entitled analysis and recommendations.

One of the key operational ingredients to make them successful is their hours of operations. The restaurant is only open from 11a to 2pm and from 5pm to 10pm. This could by far be one of the best strategies for them as it allows them to focus on the lunch and dinner seekers in the neighborhood. These hours of operations make it very easy to find part time employees helping keep payroll and benefits at 15% compared to 26.9% for the average limited menu restaurant. Being a buffet style restaurant and priding themselves on the freshness of their food, the owners have managed to run operations that allow them to reduce waste to mainly what the customers don’t finish eating. This also allows them to keep their

A central focus of McDonald’s, much like in any retailer, is Inventory Planning and Control. An advantage McDonald’s and other fast food restaurants have in Inventory Planning and Control is that the vast majority of their stock can be either be frozen (pre-prepared burger patties, chicken products, French fries) or can lost an almost indefinite period without deterioration (Boxes for serving menu items such as French fries or Happy Meals).8 However, Inventory Planning and Control is still something branches of McDonald’s must pay keen attention to in order to attain or maintain the desired level of customer service quality (known as quality management). Buffer or safety inventories (extra amounts of stock which are kept in preparation for unexpected fluctuations in supply and demand) are kept at all times to ensure that customers can be served their desired menu items regardless of increased demand.8 In addition to this, in times of extremely high unexpected demand different branches often