Types Of Inventory Management System Essay

Production- only found in in manufacturing businesses such as; Heinz. Receives deliveries, though previously going by Just IN Time knowing when to order based on the amount of stock in store and by their loses in stocks. These are usually for making and selling the product. Many automated systems including robotics and other machines

* Time, energy, and effort used to move finish products to another warehouse to verify and prepped order for shipment.

CRM is a process that turns the customer’s data into customers’ loyalty through activities which is collecting customers’ data, analysing customer data and identify target customers, developing CRM through programs and implement CRM programs.

3. In the form of materials or supplies to be consumed in the production process or in the rendering of services.

i. With regards to suppliers delivering goods, they simply sent the goods without any prior notification. This led to a variable rate of arrival of stock in the ware houses.

Raw materials which are materials that are purchased for using in the production of finished goods. The material is purchased and received into the system to be used for in the final products (Wisner , Tan, & Leong, 2012).

9. If goods are sold _____________ and are in transit at the end of the period, they should be included in the seller’s inventory. 10. The measures the number of times the inventory sold during the period. 11.

It means that the products are now finished, and they need to be sent along the supply chain to wholesalers, retailers or the final consumer. Hyundai sells vehicles in 193 countries (ehow.com, 2013), and they manage their own Showrooms in different countries. The company makes their product easily

Customer Relationship Management (CRM) is a tool that helps track, manage and supply information about customer’s interactions with an organization to help contribute to customer satisfaction that leads to customer loyalty. Additionally, CRM programs provide tools and applications designed to target their efforts on the most profitable customers, target new potential customers, and generate sales and maintain relationships with customers contributing to a greater market share.

Nowadays, in an era that has advanced technology and a place in the world. Everything can be linked only at your fingertips in the times of rapidly developing with the sophisticated technology of today. Therefore, an inventory system is also not lagging behind in introducing a method of keeping an inventory data systematically and safely. The system plays a very important role in improving the competitiveness of a business. Usually, organizations today face too many challenges to achieve the cost, speed and reliability. Efficient inventory system really help in order to make sure the store’s performance and data record is always in good condition and secured from abusers. The system basically to ease the admin to manage the

Since there is no work in process at year-end, all amounts in the Work-in-Process account must be transferred to Finished-Goods Inventory. Thus:

Customer Relationship Management (CRM): Customer relation management (CRM) is a cross functional enterprise system that computerizes numerous customers serving form in direct marketing, sales, customer service and accounting management. CRM allows a company to distinguish and focus on their best customer so that they can be held as a loyal customer for a longer period of time.

CRM (Customer Relationship Management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had

There are three broad groups of good to be transported and applicable to Makro, which are raw material, semi-finished goods and finished goods. In which, raw materials are the groceries like rice and flour. Semi-finished goods are the goods that have been processed but not finished, such as Microwave fast food, pc accessories, tent and paint. Finished goods are the goods that are ready to be used, like fully build PC and wash machine.

It can include a variety of activities depending on whether the goods are returned from a customer (end user) or a distributor, whether the goods sent back is a packaging material or a product and similar other factors.  If it is a product then activities like refurbish, recondition, remanufacture, recycle, landfill, etc. can be performed. If it is a packaging material, reuse, refurbish, recycle, reclaim material activities are involved.