Inventory

Running head: RFID Inventory System Riordan Manufacturing Inventory System: RFID-based Tracking Executive Summary The primary weak-link in the value chain of Riordan Manufacturing is the manufacturing process of raw materials inventory tracking. Currently the raw materials arrive and a series of written reports are produced for the Inventory Clerk who then re-produces those reports during a data entry process into the Inventory Office PC (see Figure 1). This system continues through the

stock. Once the items are unloaded off the delivery vehicle, the receiver delivers all the appropriate paperwork that is attached to the delivered item to the Inventory Manger and the Supply room. All items, excluding repair and returns(R&R) property items, supplies and repair parts, are gained into TEWLS by the Inventory Manager. The Inventory Manger gains new equipment, inductions/turn-ins/RECAP and items that are returned from a vendor. New Equipment are items that are generally shipped directly

Chemical Inventory Wed: April 27 - 930 - Ron Pringle Discussed with Joseph Fiorillo who gave me a copy of the current chemical inventory for the store. Some of the labels and signage in the store are not yet in compliance with the WHMIS 2015 requirements. This needs to be reviewed. The store personnel are fully aware of the hazardous product purchase request process to ensure that the SDS of new hazardous products are available and if not available, they are documented. Site Chemical Inventory Fri-

INVENTORY MANAGEMENT (JIT AND BLACKFLUSH COSTING) Inventory Management includes planning, coordination, and controlling the flow of inventory into, through, and out of company. There are 5 categories of cost that are associated with goods sold: 1. Purhcasing costs: the cost of goods from supplier and freight 2. Ordering costs: the cost of preparing purchase orders, receiving and checking the goods, matching invoices received, purchase orders and delivery notes to make payments 3. Storage cost:

parts which are ordered by the warehouse planners. Lead times have a big influence on inventory planning and replenishment policies and lead time savings can be very beneficial for the business of a warehouse and the performance of a SPSC (de Treville et al. 2004). Hiller and Liebermann (2001) regard unnecessarily long lead times as a form of waste and minimizing or avoiding waste as a key component of superior inventory management. In the current setting, three stages of the SPSC are involved in the

Inventory Usage Assessment When assessing the inventory needs and management the annual figures are unlikely to give sufficient detail regarding potential seasonal fluctuations to be useful. Therefore, it is necessary to look at the trend on a seasonal, or even monthly, basis. The inventory usage for 2009 - 2012 is shown in figure 1 below Figure SEQ Figure * ARABIC 1; Inventory Usage 2009 - 2012 It is apparent that there is volatility in the level of inventory needed in different months

Inventory Forecasting Businesses will often use past performance for different times of the year as an indicator for the forthcoming months. In many businesses there are likely to be patterns; some times of year where demand for their goods increases, and other times when it decreases. When a business has historical data forecasting may be undertaken using the past results as a guide to the potential future demand. The first stage of forecasting is to create an index using the existing data

OF CONTENTS - CHAPTER 11 I. CHAPTER 11 – INVENTORY 1 II. OVERVIEW AND OBJECTIVES 1 A. Overview 1 B. Objectives 1 III. DEFINITION OF INVENTORY 1 IV. INTERNAL CONTROLS 2 V. ESTABLISHING AND MAINTAINING AN INVENTORY 2 VI. VALUING THE INVENTORY 4 A. FIFO 5 B. Weighted Average 6 VII. YEAR-END PHYSICAL INVENTORY 7 VIII. EXHIBITS 8 CHAPTER 11 – INVENTORY The purpose of this chapter of The Guide is to explain the concept of inventory and to discuss the policies, guidelines, and

An Overview of Inventory Management Lijuan Wei Abstract —There are some complex and compelling challenges that global manufacturing industries should face, which includes price fluctuation, supply-chain inefficiencies and increasing customer expectations. In order to meet the demand of this economic environment, manufacturers need to find innovative, smarter ways to face those challenges. Thus, the efficient inventory management becomes urgent to manufacturers and it could help improve profitability

INVENTORY MANAGEMENT Learning Objectives: • •         To understand the different types of inventory and the reasons for maintaining inventory • •         To learn how to analyze inventory levels and effectiveness • •         To develop strategies for managing inventory by answering the following questions I. Why do we have it II. What form should it take? III. Where do we keep it? IV. How much should we order? V. When should we order? VI