Selective Methods of Inventory Control

ONE OF THE MOST IMPORTANT AND BETTER METHODS OF INVENTARY CONTROL THAT WE FIND IN THE OPERATIONA MANEGEMT IS JIT IE JUST IN TIME THWE PHILOSPHY WAS STARED FROM THE TATOTA AND CONTINUED TO THE WEST PARTY IN OTHER NAME STILL THE PHILOSPHY IS ONE OF THE MOST WONDER FUL INNOVATION IN TH MARETAIL MANAGEMT. I HAVE BEEN VERY MUCH FASNITATED BY THE CONCEPT OF JIT IE JUST IN TIME GREAT CONCEPT FROM BEST MINDS IN THE MANUFACTURING IDUSTRY
 
ANOTHER CONCEPT THAT IS OF GREAT USE TO ANY MATERAL MANAGEMENT STUDENT IS OF KANBAN A GREAT CONCEPT INDDED
 
THANKS RAHUL787 FOR THE THE MATERIAL ON INVENTARY CONTROL . IT WAS OF GREAT HELP THANK MATES WONDERFUL JOB DONE BY YOU
 
avanigala said:
hey can u pls tel me d various selective inventory control techniques
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There are basicaly three types of Inventory control techinques

1. Number of variety of items ( variety reduction )

2. control of quantities of various items.

3. Cost of each item.
 
Sir/Madam,

I am in my 1st year of Management. We Have Materials Management as a subject, which is completely new for me.

I seek yours valuable assistance towards subject.

Our Syllabus:
A. Material Management: An Overview.
1. Material Flow System
2. Strategic Role Of Material Management
3. Linkage with Various other functions areas of Management
B. Sourcing Of Materials.
4. Issues & Overviews
5. Domestics V/s International Purchases
6. Vendor Network
7. Buyer-Seller Relationship
C. Material Planning & Control.
8. Material Planning & Budgeting
9. Pull V/s Push
D. Inventory Policies & Systems.
10. Inventory Systems & Modeling
11. Process Inventory
12. Spare Parts Management
13. Stores Accounting
E. Warehousing.
14. Codification & Standardization of Materials
15. Location & Structure of Warehouse
16. Incoming Material Receipts
17. Retrieval And Transaction Processing System
18. Security And Loss Prevention
F. Organization & Appraisal of Materials Management
19. Materials Management & Its Org
20. Materials Information System
21. Control of Material Management & Performance Appraisal

I sincere request to you all, to send me notes, ppt or pdf.


Regards,
Hemanshu Roy
 
now sm info on inventory management technique
When you choose to implement specific inventory techniques into the workplace, you’ll find that your job is much easier and that your entire department runs more smoothly. Here are a few simple but essential inventory management techniques that will assist you in keeping track of your inventory without a hassle.

Stock Rotation

Every good department head understands the importance of stock rotation. When new stock arrives, it is filed into the inventory kept in the warehouse behind any current stock of the item. This allows for older product to move out to the sales floor or to the ordering customer first. When you rotate stock, you keep any of your inventory from becoming outdated and useless. If anything expires or becomes outdated, it is no longer usable merchandise and must be written off as a loss. Therefore, stock rotation is one of the most important inventory techniques you can employ to achieve success.

Creating a System

When new inventory arrives, it cannot be placed in any open area of your warehouse. You must employ some sort of systematic stocking agenda so that all replenishment of stock is regulated. If a new item is to be shelved in the warehouse, room must be made for it in an area of similar items. This system must be made clear to all employees who handle the inventory in your department or supply house so that there are no errors resulting in lost or misplaced inventory. This sort of organization is obviously one of the more important inventory management techniques involved in keeping track of current stock.

Labeling

Of all the inventory management techniques you could employ in your workplace, labeling is probably the most important. Especially if you have a large warehouse of merchandise, it is absolutely essential that everything is clearly labeled so that all replenishment stock can be placed in the proper area with no hesitation or uncertainty, and also so that any outgoing merchandise can easily be located for shipping. On top of that, when an inventory check is completed, it will make the process of reconciliation that much simpler to handle.

Inventory Management Software

Using any kind of software that assists you in tracking your inventory can be helpful as well, making it simple to just scan in and out any moving merchandise on a daily basis. Using a database or other software can make the other inventory management techniques that much easier for you by cataloguing all the information for you, including quantity on hand, cost of the item, and location within your warehouse. It also gives a clearer picture of how quickly items are sold and allows inventory checks to be processed more quickly and efficiently.
As you can see, some of the inventory management techniques that are best suited to help you maintain your responsibility without a hassle are not all that difficult to employ. Especially if you have a good management software package, all the other techniques can easily fall into place. With a robust training program for employees and a drive to follow these pointers, managing your inventory will be a breeze.
 
Wizard said:
ONE OF THE MOST IMPORTANT AND BETTER METHODS OF INVENTARY CONTROL THAT WE FIND IN THE OPERATIONA MANEGEMT IS JIT IE JUST IN TIME THWE PHILOSPHY WAS STARED FROM THE TATOTA AND CONTINUED TO THE WEST PARTY IN OTHER NAME STILL THE PHILOSPHY IS ONE OF THE MOST WONDER FUL INNOVATION IN TH MARETAIL MANAGEMT. I HAVE BEEN VERY MUCH FASNITATED BY THE CONCEPT OF JIT IE JUST IN TIME GREAT CONCEPT FROM BEST MINDS IN THE MANUFACTURING IDUSTRY
Click to expand...

hi sir please send me notes on the transaction processing system
 
Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply.

Please do upload projects and do not rush after uploading please add your precious time and go for cursory glance.
 
rahul787 said:
These are various Selective Methods of Inventory Control
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Hey rahul, i read your document and it was very good. Actually there are six methods of inventory control and they are
Re-ordering level
Maximum Level
Minimum Level
Average Stock Level
Danger Level
Economic Order Quantity
I am uploading here a document which will give you detailed information of all these types. Hope you will also like my presentation.
 

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