...Analysis Of Scientific Glass Inventory Management Finance EssayAnalysis Of Scientific Glass Inventory Management Finance Essay The products of Scientific Glass include customized and specialized glassware for a variety of organizations such as pharmaceutical companies, hospitals, research labs, quality-control sites and testing facilities. By January 2010, a substantial increase in their inventory balances tied up the capital needed for investment for expansion. The debt-to-capital ratio exceeded the 40% target preventing the company to use their capital in other areas. Also the shipping costs were rising, competitive pressures were speeding up, and certain markets in North America and Europe were becoming saturated which underscored the necessity for capital investment for expanding market opportunities in Latin America and Asia. Moreover, expanding warehousing network increased the inventory levels along with costs, documentation complexities and errors. The company hired a new Manager of Inventory Planning, Ava Beane, to come up with an effective plan to manage SG’ s inventory without requiring a large capital investment. In order to finance operations in year 2010, SG requires an external funding of $53.8 million. These expenses would further limit the company to use their existing capital in other areas such as research and development and expanding to international markets. To improve customer service levels, SG had increased the target customer fill rate to 99% and added...
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...Introduction Warehouse management is part of logistic and supply chain management system which is a vast and critical process. With the change of business nature due to globalization the complexity of warehouse management has increased more. As much of the business success of today’s competitive world depends on effective logistic and supply chain management system companies are relying more on integrated computerised system to manage their warehouse function more effective and efficiently. SAP Warehouse Management System is one of those kinds of solution which fulfil all the requirement of today’s business need. The system is flexible and provides automated support to process warehouse activities. It includes planning, monitoring and controlling. As a result there has been remarkable improvement in the warehouse management process with speed and accuracy. Warehouse Management Warehouse management (WM) is an integrated process of managing all activities of a warehouse. Prime consideration of warehouse management is to manage the movement and storage of materials within a warehouse and process related transactions including shipping, receiving, put away and picking of materials or goods (Wikipedia 2011). Warehouse management is no longer limited to the boundaries of a particular warehouse. A wide range of activities have been incorporated to this process. These are inventory management and planning, cost management, container storage, loading and unloading of goods, warehouse design...
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...JANUARY 4, 2011 STEVEN C. WHEELWRIGHT WILLIAM SCHMIDT Scientific Glass, Inc.: Inventory Management In January 2010, Ava Beane, the newly hired Manager of Inventory Planning for Scientific Glass (SG), contemplated the critical nature of her first big project with the company. During her interviews for the job, several executives had told her very directly that the company’s need for a more effective way to manage its inventory was urgent. At the time, Beane had felt confident she could address the problem quickly and meaningfully. Now on the job for several weeks, Beane was gaining a fuller appreciation of the difficulties of the task. Until recently, SG had treated inventory management as largely an afterthought. As a fastgrowing organization with annual sales of $86 million, the company historically emphasized the twin goals of continued sales growth and high customer satisfaction. During the past year, however, executives at the company had identified a disturbing trend: Inventory balances were increasing substantially, which tied up extra capital the company needed to fund its growing operations. In recent years the company exceeded its target debt to total capital ratio of 40%. If this trend persisted, it could jeopardize SG’s ability to fund a planned expansion into new international markets. Beane was given four weeks to come up with recommendations on how to make the inventory plan support the company’s sales and customer-service objectives without requiring...
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...business has recently expanded and another outlet has been opened in DHA, Lahore. However, due to problems in inventory management of the first shop, the inauguration of the second shop has been delayed. Workforce of Butt Lights: Title | Job Description | 1 Outlet Manager | * Receives the customer and acknowledges their purchase. * Supervise the shop workers. | 2 Shop Workers | * Help the customers look around the displayed lights. * Run to-and-from errands of outlet and warehouse. | 1 Warehouse Worker | * Receives the stock from supplier * Makes the manual receipt. * Retrieves products from inventory for customer. | Warehouse Manager | * Updates and maintains inventory records. * Supervise the warehouse worker. | Project Scope and Problem Statement The project’s scope is extended to one current shop of Butt Lights. However, the proposed automated system for inventory management can be applied to any manufacturing and retailing business. Following are the prevailing problems in Butt Light’s Inventory Management: * When the stock is received from the supplier, the transaction is not recorded in a proper standardized receipt. Instead, the “number of products” and “product category” is manually written on a piece of paper by the Warehouse Worker. Often the receipt is lost. * That piece of paper is forwarded to the Warehouse Manager who maintains a ledger for the stock maintenance and recording. He inspects the received stock, notes the...
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...Logistics Written Assignment 3 * How does the warehouse location decision affect the rest of the logistic decisions? With costs exploding in the market, the location of a warehouse is crucial for an organization’s profitability. In a well-designed supply-chain location is of supreme importance. Selection not only impacts the supply chain it also has a significant impact on future cash flows. As with any individual logistics activity, management must always ensure that the logistics system as a whole benefits from the chosen warehousing strategy. In other words, the costs of the building and maintaining the warehouse have to be less than the benefit the firm is receiving. When the location is chosen, management has to decide whether they want to support multiple markets from one centralized warehouse or place a facility in each market. Once the question of centralization is addressed, the decision of how many warehouses comes into play. Then management must look into warehouse alternatives such as private warehousing, contract warehousing, or public warehousing. This decision is based on the type of warehouse functions are needed by the firm (i.e. receiving, put-away, storage, replenishment, order selection, etc.). Also on whether the warehouse is going to serve the firm as a place for gathering / consolidation or break-down function. If they choose a private warehouse, a one level warehouse facility is most recommended but that also depends on location and what...
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...Synchronized Distribution Supply Chain: Best Practices in Warehouse Management About Motorola’s Mobile Supply Chain Solutions Every day, companies all over the world count on Motorola mobility solutions to keep their supply chain operations at peak productivity and profitability. When it comes to supply chain optimization, Motorola’s end-to-end supply chain mobility solutions offer the expertise gained through successful proven deployments in many of the world’s largest enterprises, a comprehensive and proven enterprises class product portfolio — including wireless infrastructure for seamless ‘inside outside’ mobility, integrated voice and data devices and bestin-class applications through a world-class partner network — and a complete portfolio of services designed to help you get and keep your mobility solution up and running to ensure peak performance and maximum value. For more information on how Motorola mobility solutions can streamline your supply chain, please visit motorola.com/supplychainmobility or access our global contact directory at motorola.com/enterprise/contactus Executive summary The warehouse is at the center of your business, a key area through which nearly everything in your business must pass — from packages in a parcel post environment to raw materials and finished goods in a manufacturing plant to a wealth of products in a distribution center. When mobility is extended throughout your warehouse, a new level of efficiency, accuracy and visibility can...
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...are: Explain the concepts of supply chain in Microsoft Dynamics® AX 2012. Describe the concept of product information management. Discuss the concept of inventory management. Explain the concept of warehouse management. Describe the concept of quality management. Introduction The Overview module provides an introduction of the supply chain and logistic features in Microsoft Dynamics AX 2012. Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement 1-1 Supply Chain Foundation in Microsoft Dynamics® AX 2012 Supply Chain Supply chain management is the management of a network of interconnected business involved in the ultimate provision of product and service package required by the end consumer. There are many processes in the supply chain. The Sales Order Processing figure displays the flow for a sales order through Microsoft Dynamics AX 2012. FIGURE 1.1 SALES ORDER PROCESSING The Purchase Order Processing figure displays the flow for a purchase order through Microsoft Dynamics AX 2012. FIGURE 1.2 PURCHASE ORDER PROCESSING 1-2 Microsoft Official Training Materials for Microsoft Dynamics® Your use of this content is subject to your current services agreement Chapter 1: Overview Product Information Management Product information management is the process of managing information about products. This information or data is required to purchase, sell, and manage...
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..._________ This thesis comprises 30 ECTS credits and is a compulsory part in the Master of Science with a Major in Industrial Engineering – Logistics, 120 ECTS credits Nr. 5/2009 _______________________________________________________________________ Warehousing in theory and practice A case study at ÖoB, Clas Ohlson, Stadium, Åhlens Mahesh Kumar Rajuldevi Ranjit Veeramachaneni Sridhar Kare Master Thesis Subject Category: Series and Number: Technology Industrial Engineering: Logistics, 17/2008 University College of Borås School of Engineering SE 501 90 BORÅS Telephone: +46 033 435 4640 Examiner: Supervisor: Date: Keywords: Göran Stjernman Göran Stjernman November, 2008 Warehousing, Warehouse management systems, Retail stores, Inventory, Labour management. ii Acknowledgements The present master’s thesis work represents the essence of our achievements during the two years of study in Industrial Engineering and Logistics programme at University College of Borås, Borås. During this period there have been many people who have inspired us throughout the study period. The thesis work is concluding part of our university degree in MSc. in Industrial Engineering and Logistics. This master’s thesis was written during autumn 2008. This period was very exciting and it was very valuable as it has given us very knowledgeable and practical experience for the theoretical subjects we have been studying. We wish to acknowledge the assistance of Göran Stjernman, our...
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...Supply Chain Management Chapter – 5 Level-3 Project Course: BADM 425 – Production and Operations Management Instructor: Professor Tom Martin Report Written by: Raja Vinjamuri (7291237) Firm chosen: Walmart Person Interviewed: Mr. Clay Peltier (Assistant Manager) Report: Before, we discuss about the Supply chain management of Walmart, I would like to clarify their business philosophy, which is to keep prices as low as possible. Even if their margins weren't higher than competitors and in fact very less, they could make up for that in volume. Various factors like Technology combined with flawless Supply chain management, enables them to maintain such low costs. Now let’s see various elements of their supply chain management. The relationships of the firms in Supply chain: Normally any supply chain has a suppliers, manufacturers, distributors, wholesalers and retailers. Though walmart is technically considered as a retailer, in the words of one of its assistant manager of operations, “it is actually a wholesaler with a huge number of its own retail outlets”. Because Walmart supply chain has so many suppliers, as they sell a wide range of products they tend to do a lot of “Vertical integration” which is to own a major part of supply chain. Actually, based on types of integration of supply chain, they have various types of stores such as Walmart store U.S, Walmart Discount Stores, Walmart Supercenter, Sam's Club etc. So a supply chain integration connects the flow of work...
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...Dinara Muratova February 22, 2014 Warehouse Management Systems Warehouse Management Systems involve computer software that company employees can use to manage inventory and warehouse operations. The software interacts with hardware, which includes machinery. This management system can be used by so many. Many employees of the company can use these systems to fulfill business requirements. Employees from Accounting, the warehouse, shipping, sales, and customer service use the system. Also customers of the company can use these systems to check on the status of their orders or even to make orders. Cadre Technologies is a company that offers its warehouse management solution to other companies. Cadre calls it "e-commerce in the cloud". This company's system is built to provide a "web storefront" for warehouse operations. Cadre has a specific plan for their system. It's focus is inventory management and the idea is to provide software and a warehouse operation solution that works with various stations and areas of the warehouse in picking and storage of the various items that are stored in the warehouse to efficiently store and retrieve them for customer companies. The inventory and orders can then be made and managed by customers of the company through an online website that can be branded by the company. Oracle is also another company that provides warehouse management systems. This the same Oracle that manufactures servers and the Java software. Their solution appears...
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...outlets. The Company recently installed the YMS (Yard Management System), which we have integrated with our WMS (Warehouse Management System) and TMS (Transport Management System). Our expectation was improved performance in over-a-road transportation equipment utilization, driver productivity, and warehouse dock/door utilization. Our company is No.1 distribution in the country and we have 80% of local markets to supply. A warehouse management system (WMS) is a key part of the supply chain and primarily aims to control the movement and storage of materials within a warehouse and process the associated transactions, including shipping, receiving, put away , Label printing, Storage, Inventory control, ordering fulfillment, Cycle counting and picking. A WMS monitors the progress of products through the warehouse. It involves the physical warehouse infrastructure, tracking systems, and communication between product stations. More precisely, warehouse management involves the receipt, storage and movement of goods, (normally finished goods), to intermediate storage locations or to a final customer. Warehouse management is an aspect of logistics and management. A WMS fully automates and streamlines the entire order fulfillment process with higher efficiency. For total visibility, flexibility and scalability, WMS provides our organization with the key to bigger success with just a click away. A Transportation Management System (TMS) is a software and helping business and organizations...
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...Scientific Glass, Inc; Inventory Management Company Background Scientific Glass established in 1992. It manufactures specialized glassware for laboratory usage and research facilities. Especially, middle size target is very high competition, which focusing on providing durable product, innovative design, and superior customer service. This forces the company focus on niche market by using information system to enable specific market focus in order to serve target better than competitors. In this industry continues growth over the past decade, which ranged from 3% to 5%. For Scientific Glass focused of its sales effort in North America for 70% of total sales. Moreover, after SG developed relationship with distributor in Germany in 2002, it makes SG has 20% of total sales come from Europe. Another 10% is come from Asia market, which has distributor in Singapore server that market. The main customers of this industry, like the other providers, SG selling its products to many organizations such as; 1) Pharmaceutical companies 2) Biotechnology firms 3) Hospitals 4) Academic and government research labs 5) Environmental testing facilities 6) Industrial research and development facilities 7) Quality control sites The price range of its product is from less than $3 to more than $200, with the average range is falling in $4 to $20. SG has more than 3,000 different standardized products. Also, company offers custom glassblowing services to customer who required specialized...
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...INCORPORATING WIRELESS INVENTORY SCANNERS THROUGHOUT WAREHOUSE Prepared for Professor April 5, 2014 Letter of Transmittal Board Members 1234 Martin Luther King Dr. Killeen, TX 76543 USA Dear Members of the Board and Fellow Employees: Here is my report, highlighting the recommendations that should implement a wireless inventory scanning process throughout our warehouse. This report provides detailed information regarding the significant impact that this wireless network will have on control cost and inventory productivity. My research indicates that implementing a wireless inventory scanning network will drastically improve on control cost and inventory productivity across the board for all involved. It will benefit our inventory clerks by making their working hours more productive and decrease the amount of time needed to manually count the inventory. This will allow for a seamless flow of data from our warehouse location to our store shelves to allow for a more productive selling advantage. Also, it will drop maintenance cost to a minimum by incorporating our own in house IT personnel to maintain the network without having to outsource any maintenance personnel. For these benefits, I encourage you to approve of this upgrade in our inventory process. It will benefit our organization in many ways and improve employee morale. If you have any questions or suggestions, I would be glad to answer them for you. Sincerely, Contents LIST...
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...5 Supply Chain Management Based on Modeling & Simulation: State of the Art and Application Examples in Inventory and Warehouse Management Francesco Longo Modeling & Simulation Center – Laboratory of Enterprise Solutions (MSC-LES) Mechanical Department, University of Calabria Via P. Bucci, Cubo 44C, third floor, 87036 Rende (CS) Italy 1. Introduction The business globalization has transformed the modern companies from independent entities to extended enterprises that strongly cooperate with all supply chain actors. Nowadays supply chains involve multiple actors, multiple flows of items, information and finances. Each supply chain node has its own customers, suppliers and inventory management strategies, demand arrival process and demand forecast methods, items mixture and dedicated internal resources. In this context, each supply chain manager aims to reach the key objective of an efficient supply chain: ‘the right quantity at the right time and in the right place’. To this end, each supply chain node (suppliers, manufacturers, distribution centers, warehouses, stores, etc.) carries out various processes and activities for guarantying goods and services to final customers. The competitiveness of each supply chain actor depends by its capability to activate and manage change processes, in correspondence of optimistic and pessimistic scenarios, to quickly capitalize the chances given by market. Such capability is a critical issue for improving the performance of the ‘extended...
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...agency is to track and manage its inventory to include materials, supplies, tools, equipment, vehicles, appliance, etc., while maintaining a strict system of accountability and internal control. It is essential. To any effective public housing operation to have a system in place that ensures that the necessary supplies, parts, tools, and equipment are on hand to perform needed maintenance repairs to the units, buildings, grounds, and other PHA property. Housing Agencies between 250-400 public housing units are required to operate using Project Based Budgeting and Accounting unless they have opted out of asset management (an option under current rules as of the date of this writing). All PHAs are required to manage their inventory regardless of the number of projects and whether or not they are operating under asset management. If they are operating under asset management, they should maintain inventory by project unless utilizing a centralized warehouse for inventory, further discussed below. A. PURPOSE The purpose of this manual is to familiarize you with effective management, tracking, and accountability procedures for both non-expendable and expendable items in accordance with Project Based Budgeting and Accounting requirements. Objectives: Develop an understanding of inventory management requirements under Project Based Budgeting and Accounting. * Use the basic principles of maintaining and tracking available inventory to develop a system which will adequately...
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