A Secondary Research Study on Inventory Management
A Secondary Research Study on Inventory Management
Table of Content
1. Introduction-------------------------------------------------------------------------------- 1
2. Inventory Management------------------------------------------------------------------ 2
3. Effective inventory management is a crucial aspect of a successful business practice------------------------------------------------------------------------------------- 3
3.1 Mismanaged Inventories ----------------------------------------------------------- 3
3.2 Booming Inventory Management ------------------------------------------------ 3
3.3 Ordering and Pricing ---------------------------------------------------------------- 3
3.4 POS Software ------------------------------------------------------------------------- 4
3.5 Technological Advances in Managing Inventories ----------------------------- 4
4. Common Inventory Management Problems. -------------------------------------- 5
4.1 Unqualified employees in charge of inventory.--------------------------------- 5
4.2 Using a measure of performance for their business that is too narrow----- 5
4.3 A flawed or unrealistic business plan for a business for the future ---------- 5
4.4 Not identifying shortages ahead of time ------------------------------------------ 5
4.5 Bottlenecks and weak points can interfere with on-time product delivery----5
4.6 Falling victim to the “bullwhip effect” -------------------------------------------- 5
4.7 Too much distressed stock in inventory------------------------------------------- 6
4.8 Excessive inventory in stock and unable to move it quickly enough---------- 6
4.9 Computer assessment of inventory items for sale is inaccurate--------------- 6
4.10
Computer inventory systems are too complicated--------------------------- 6
4.11
Items in-stock get misplaced--------------------------------------------------- 6
4.12
Not keeping up with the rising price of raw
Table of Content
1. Introduction-------------------------------------------------------------------------------- 1
2. Inventory Management------------------------------------------------------------------ 2
3. Effective inventory management is a crucial aspect of a successful business practice------------------------------------------------------------------------------------- 3
3.1 Mismanaged Inventories ----------------------------------------------------------- 3
3.2 Booming Inventory Management ------------------------------------------------ 3
3.3 Ordering and Pricing ---------------------------------------------------------------- 3
3.4 POS Software ------------------------------------------------------------------------- 4
3.5 Technological Advances in Managing Inventories ----------------------------- 4
4. Common Inventory Management Problems. -------------------------------------- 5
4.1 Unqualified employees in charge of inventory.--------------------------------- 5
4.2 Using a measure of performance for their business that is too narrow----- 5
4.3 A flawed or unrealistic business plan for a business for the future ---------- 5
4.4 Not identifying shortages ahead of time ------------------------------------------ 5
4.5 Bottlenecks and weak points can interfere with on-time product delivery----5
4.6 Falling victim to the “bullwhip effect” -------------------------------------------- 5
4.7 Too much distressed stock in inventory------------------------------------------- 6
4.8 Excessive inventory in stock and unable to move it quickly enough---------- 6
4.9 Computer assessment of inventory items for sale is inaccurate--------------- 6
4.10
Computer inventory systems are too complicated--------------------------- 6
4.11
Items in-stock get misplaced--------------------------------------------------- 6
4.12
Not keeping up with the rising price of raw
References: 8. Boucher, Geoff (2008-12-22). "VHS era is winding down". Los Angeles Times. to developing agricultural markets, FAO, Rome, 1995 12