...An Inventory Control System Course Project 1 Sam Mirza KB Home smirza@kbhome.com Keller Graduate School of Management GM598 John Sanders September 15, 2011 Tables of Contents 1. INSTRUCTIONS TO BIDDERS 3 1.1. General Description of Work 3 1.2. What Must Be Included with Bid 4 1.3. Schedule of Bid Period Activities 4 1.4. Location of Work 5 1.5. Pre-Bid Meeting 5 1.6. Owner Contact for Questions 5 1.7. Pre-Award Surveys 5 1.8. Sealed Bid Requirements 5 1.9. Basis for Bid Evaluation 6 1.10. Ethical Standards 6 1.11. Responsibility for Surety Bonds 6 1.12. Proposal Format 6 1.13. List of Bidders 6 1.14. Letter of Acknowledgment 6 2. DESCRIPTION OF WORK 7 2.1. Engineering Contracts 7 2.2. Construction Contracts 8 3. PROPOSAL 8 3.1. Breakdown of Bid Price 9 3.2. Revisions and Extra Work 9 3.3. Escalation Formulas 9 3.4. Scheduled Completion Dates 9 3.5. List of Subcontractors 9 3.6. Key Supplier or Contractor Personnel 9 3.7. Length of Time Bid Is Valid 9 3.8. List of Bid Document Addenda Reviewed by Bidder 9 3.9. Notice of Conflicts or Errors in Bid Documents 9 3.10. Clarifications of Bids 10 3.11. Bidder Signature 10 4. SPECIFICATIONS AND DRAWINGS 10 5. SPECIAL CONDITIONS 10 6. GENERAL CONDITIONS AND CONTRACT AGREEMENTS 11 Appendix A 12 Appendix B 13 Supplier/Bidder List 13 1. INSTRUCTIONS TO BIDDERS 1.1. General Description of Work We...
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...the inventory control system for XXXXX and describe its purpose, critical aspects and objectives. This report will review its faults and challenges, then describe solutions which will produce measurable results. Purpose of an Inventory Control System The inventory control system is the mechanism within a company that is used for efficient management of the movement and storage of raw material, work in process, finished goods, effective utilization of people and equipment, and the communication of this information within the organization and its customers. The inventory control system provides the vital information needed for managers to make decisions. Critical Aspects and Objectives of an Inventory Control System The main goals of an inventory-control system are distributing product to customers on time and as cost-effectively as possible. With this said, the main objectives of the inventory control system are to avoid back-orders while avoiding excess inventory, provide for the efficient movement of goods, and to maximize profit margins while maintaining sustainable cash flow. Avoiding back-orders: Back-orders are costly. You want to make sure that the company has sufficient stock on hand to deliver to customers when they want the product. A defined replenishment system is critical to maintain inventory at sufficient levels to meet customer demands. Seeing as it costs time and money to promote products and attract customers, it is important to have inventory on hand...
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...provides. These would include the pressure washers and the coin operated car wash systems, as well as any others that the company may maintain. Second, each piece of inventory should have a valid bar code so that the inventory can be deducted from the inventory system. “Good inventory management is important for the successful operation of most businesses and their supply chain. Poor inventory management hampers operations, diminishes customer satisfaction, and increases operating costs” (Stevenson, 2009). Bar codes will allow for automatic identification as soon as it is scanned. Obviously, prior to obtaining these inventory bar codes, you will need to have an inventory software system to track these bar codes. These bar codes will then go into the computer system. Thereafter, it should allow you to automatically order inventory when it is necessary, as opposed to being automatically ordered. Further, you will be able to write off inventory that might be defective or used to repair the car washes or the pressure washers. Although you will expend the cost of the software, bar codes, and the requirement of the company to place these bar codes on each product, it will save money in the end as far as missing parts or parts that cannot be accounted for because no paperwork was kept regarding the same. This type of inventory control will ensure that the company has control of the inventory and will prevent the company from running out of stock that is required to conduct...
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...Systems Build Project MGT222 – Management Seminar Inventory Management Buehler’s Fresh Foods grocery store in Ohio, founded in 1929 by E.L. (Ed) Buehler and his wife, Helen, has a long and successful history, mainly due in part to Ed’s vision and his experience as an A&P employee. After opening their first store in New Philadelphia, the Buehler family moved the business to Wooster in 1932 and opened a store near the northeast corner of Public Square. Today, Buehler’s Fresh Foods is still owned by the Buehler family and operated by its “third generation” from the store’s Wooster headquarters. The Buehlers’ innovative and creative spirit has made the Ohio grocery store chain a pacesetter for independent grocers nationwide. (Buehler’s Fresh Foods) Needs Analysis Unfortunately, Buehler’s Fresh Foods is lacking the technology needed to compete with the market today. Currently, the company tracks inventory with a simple pen and paper technique. This system requires hours of unneeded manpower and is very inefficient in determining the perishable dates of many grocery products. Proper inventory management will allow the company to track the products they sell. The company can see at a glance what items they sell the most, what time of the year that more are sold, and have a chance to see what patterns develop so they can plan buying accordingly. It will also help them track products that don't sell as often, or at all, so they can either not order as much as they would routinely...
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...Businesses and Inventory Systems Inventory Systems Inventory systems are tracking systems designed for companies to maintain an accurate accountability of products in stock or on hand. Each time items are added or removed from inventory items on hand either decrease or increase in number. This paper will review inventory systems within Starbucks, Wal- Mart, Dell, Arby’s, and Starbucks. The paper will also provide information regarding the success of the inventory systems and if the companies are happy with the current systems. Businesses and Inventory Systems Dell is a leading global software company that manufactures desktop computers, notebook computers, network servers, work stations, and storage products. Dell uses the Just-In Time inventory system. Just-In-Time means a company can receive raw materials just in time to go into production and complete and assemble manufacturing parts just in time to ship to customers (Accounting 4 Management, 2012). The advantages of the Just-In-Time system are that it permits Dell to reduce overhead and have certainty that products are available. The Just –In-Time inventory system reduces the cost of doing business. For example, Dell does not have to spend an enormous amount of funds on the cost of warehouse storage and the customer receives the benefit of lower cost for products. The company has a high satisfaction rating because of their ability to produce products at a fast rate. The challenge includes the possibility...
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...AN INVENTORY SYSTEM WEEK 2 – ASSIGNMENT 1 INVENTORY MANAGEMENT SYSTEMS Designing an effective inventory system for a small business can have a rewarding effect on a business with proper planning and implementation to provide employees and management a way to manage inventory. Having a proper plan in place it will save the company money, time, and provide a balances way of having stock available for customer. Assigning product code numbers on clothing merchandise upon delivery from vendors allow the item to be accounted for and to re-ordered the item and ensure that it will always be in stock and not create overstock that hurts company profit. Not meeting customer demands for a product by not keeping it in stock lessens the chance of repeat customers. There are a few disadvantages to having an automated inventory system such as human error due to inventory not being logged properly, software issues such as power outages, and software errors. Viruses and hacking can be an issue as well. Providing a backup of the inventory is a great way to ensure no total loss of inventory information. Policy and Procedures will need to be developed for employees and management to ensure everyone is being consistent with documenting inventory and to reduce errors. A case study done on the Herman Goelitz Candy Co. showed the difference having an automated inventory system had on the operations of the company. By utilizing this time of inventory control it gave them greater control over...
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...INVENTORY MANAGEMENT SYSTEMS Joshua Crisp Prof. Raman Marwah CIS210 10 October, 2012 Manually tracking items in a store can be a waste of time and money. Most small businesses today use some type of automated inventory system that automatically updates inventory after point of sale (POS). This is especially important on high demand items that need to be reordered in a timely matter. First we need to look at the equipment, cost, and maintenance involved in adding an automated business system to the store. The vendor I choose was Wasp Barcode Technology Systems. EQUIPMENT First, we will look at the equipment necessary to implement a new inventory management system. To keep it simple we will need: * Software * UPC barcode printer * Labels * Scanner The software will tie into the POS system and automatically track sales, returns, and inventory levels. The software I suggest will alert you when inventory levels are low and need to be reordered. Every product will have a barcode that tells the software an item has been removed from the inventory or added to the inventory. Initially we will have to load the software with data about what products are associated with each barcode and print the barcodes to attach to the products. The scanner will be used to tell the software what items are being purchased or inventoried. COST After identifying what equipment we will use we can see how much the equipment and implementation will cost. * People-...
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...Effective Management of Inventory System for Pizza Ingredients Feb 21, 2014 Abstract It used to be a problem for companies to handle their inventory. Thanks to technology, it saved thousands of hours of labor work. Inventory system is very imperative for organization because most of their strategic decisions are rooted here. Marketing gets sales information to generate sales forecast. On the other hand, Manufacturers are able to accurately define their stock and prevent unpleasant events such as stock-out and overstock. In order to expound more on the capability of this system, this study will provide sufficient information regarding its use, weaknesses and maintenance. By the use of local and foreign text, the study was able to relate its objective to the actual prototype.The proponents will demonstrate actual working system that will cater the products of the imaginary pizza shop. It is only limited for employee usage and will not cover the point of sale system. However, it will provide critical stocks that will determine products that need to be delivered. Moreover, it will show how to exactly manage and navigate a warehouse information system by providing a simple management of inventory. It used MySQL database and Microsoft studio’s c-sharp language to fulfill the objective and purpose of the paper. The main purpose of the study is to create a simple inventory system so that future researchers may get resources from this and improve the results. Chapter 1 Introduction ...
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...client/server inventory management. They also offer installation services and 24/7 customer support. Intuit is the most popular inventory controls system since it is widely used in both small and larger organization. Intuit provides its customers with as easy startup plan that includes management inventory for tracking sales, returns, and exchanges, free hardware such as cash drawers, handheld scanners, pin number pads, and a “go payment” mobile card reader. Intuit also offers their customers full support on all hardware and software and a free trial period of 30 days. The current price for purchasing Intuits Management Inventory System is $900. James E Dodge Business Communications Author Note [Include any grant/funding information and a complete correspondence address.] automated asset tracking and management, Barcode and RFID technology, and client/server inventory management. They also offer installation services and 24/7 customer support. Intuit is the most popular inventory controls system since it is widely used in both small and larger organization. Intuit provides its customers with as easy startup plan that includes management inventory for tracking sales, returns, and exchanges, free hardware such as cash drawers, handheld scanners, pin number pads, and a “go payment” mobile card reader. Intuit also offers their customers full support on all hardware and software and a free trial period of 30 days. The current price for purchasing Intuits Management Inventory System is $900...
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...Inventory System Background of the Study Effective inventory management is an important part of a manager’s job. Managers are tasked to make consistent, reliable, and timely decisions under the challenges of uncertainty, pressure, and lack of information. It is often that managers do not have enough time or information to make a perfect decision but they are forced to solve problems using resources within their control. Effective inventory control requires managers to ensure inventories of the right items in the correct quantities. When an organization overstocks, money is wasted since procuring, storing, and accounting for unneeded items require time, space, and money which could have been used on more critical assets. Likewise, when understocking occurs the organization will more likely to only partly meet their mission or possibly not meet the mission at all. Also, a weak inventory control system is more prone to errors and fraud. Statement of the Problem 1. How can our system generate quality use for the user? 2. Is our proposed system effective in processing needed reports? 3. How can our system guarantee the safety of the information stored? 4. How can our system reduce servile works for the staff involved in the type of field of work? Objectives of the Study This study tries to improve, introduce, and develop the use of inventory system for the ASIA GOLD CORPORATION. The system reduces work for the staff can make inputting of data at easier and faster generating...
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...mention that the amount of inventory of products and material contained in a store or factory at any given time. Store owners have to understand the precise number of goods on the shelves and storage areas in order to place an order or loss of control. Industrial unit managers have to to understand how much product’s units for buyer orders. Restaurants have to order extra food depend on their recent supply and the demand of the menu. All of these operations depend on the stock count to give a respond. The word "inventory" means the amount of goods and calculation of their performance. A lot company takes regular supply of inventory to avoid running out. Others take inventory, to make sure that the number of items ordered items to match the actual number counting. Shortage or excess inventory that theft (referred to as the "contract" retail circle) or inaccurate accounting practice. 1.1 Advantage and Disadvantage of hold inventory First advantage is improving customer service. By hold inventory can increase investment in inventory may result in a higher level of customer service and able to meet and anticipate customer demand. It also prompts and precise customer order upon request. Second advantage of hold inventory is economies of scale. Take advantage of per unit price reduction for purchasing in large quantity and enjoy economies of production as greater plant capacity and lower per unit manufacturing costs. The following is disadvantage of inventory such as consume space, higher...
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...main weakness that can be found with in Riodran Manufacturing’s system is the current inventory system that is in place for the manufacturing facilities. In order to run as a more efficient system and provide the best support and care to its customers Riodran Manufacturing’s inventory systems needs to be altered from the very start, i.e. raw materials receiving. In the current system Riodran Manufacturing plants around the country use outdated computer systems to run orders and inventory control for the entire facility. In order to improve the efficiency of the receiving area of these plants this system needs to be altered. The first thing that can be done is to add industrial scales that the supply trucks carrying raw materials to pass over when entering the receiving area of the plants. The scale will be calibrated and connected to a computer system that will give exact weight and amount of the raw material that is being delivered from the supplier. This will allow for a more accurate count of the amount of raw material in the inventory. Once that information is in the computer the delivery will be marked as complete on the schedule and a report will be automatically generated and linked to the supervisor and the inventory clerk for review. Once the delivery trucks have been weighed they will move into the unloading area. At its current form the unloading is done by the receiving area team. An update to the system will include a separate unloading zone for each type of raw material...
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...Management Systems 1 Inventory Management Systems An inventory control system is a set of hardware and software based tools that automate the process of tracking goods. The type of inventory tracked with an inventory control system may include almost any type of calculable good to include food, clothing, books, equipment, and any other item that consumers, retailers, or wholesalers may purchase. Modern-day inventory control systems are practically completely based on barcode technology. Regardless of technology, all inventory systems require some element of visual inventory management. The use of bar codes, point of sale or stub control all requires manual verification periodically. As an owner of a small clothing store it is important to use an inventory system for the success and growth of the business. Inventory systems serve multiple purposes and have many functions. The systems’ primary function is to assist in promoting sales by tracking available good and materials by providing sufficient availability of products for customers. In addition, establishing the value of the products on the shelf will enable the owner to monitor the number of goods at a specific period of time which will assist in maximizing profits and minimize losses. The Small Business Administration suggests all inventory systems strive to strike a balance between managing costs and the business advantages of a broad selection of good to offer to customers. Management Systems...
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...Inventory System Dr. Ibrahim Elhag System Analysis and Development Johnny Jackson 4/21/13 Requirements The most important asset to a clothing company is its merchandise, the controlling of the merchandise is a vital part of understanding how to control the cash flow and account for all assets. Effective inventory control is vital to accounting for costs, measuring shrinkage and improving customer relationship and the shopping experience. Management can plan for inventory management practices like, physical counting loss prevention tags and bar codes planted on the clothing to help with loss prevention. The necessary equipment will be computers and inventory management system database, camera’s, cost of training employees to use inventory management database, bar code scanners, and loss prevention tags, scanners at the door to read tags that are not removed due to theft, tag remover hardware to remove tags. The computer is the most important part of the inventory upgraded system, this will allow all the transactions to be loaded into the database and managed with little technical knowledge or expertise. However the wise thing would be to hire a dedicated person or appoint a manager to oversee this task to run daily, monthly or quarterly reports to see how the system has changed for the better or worse. In today's business environment, even many smaller businesses have come to rely on computerized inventory management systems. Certainly, there are plenty of small retail...
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...Review of Related Studies -- Inventory System The following statements given are related to our study about the inventory system which is found very useful for the proponents in making the system. "It is nearly impossible to overemphasize the importance of keeping inventory levels under control," Ronald Pachura wrote in an article for IIE Solutions. "Whether the problems incurred are caused by carrying too little or too much inventory, manufacturers need to become aware that inventory control is not just a materials management or warehouse department issue. The purchasing, receiving, engineering, manufacturing, and accounting departments all contribute to the accuracy of the inventory methods and records." It is little wonder that business experts commonly cite inventory management as a vital element that can spell the difference between success and failure in today's keenly competitive business world. Writing in Production and Inventory Management Journal, Godwin Udo described telecommunications technology as a critical organizational asset that can help a company realize important competitive gains in the area of inventory management. According to Udo, companies that make good use of this technology are far better equipped to succeed than those who rely on outdated or unwieldy methods of inventory control. Automation can draidatically affect all phases of inventory management, including counting and monitoring of inventory items; recording and retrieval of item storage...
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