...Oracle Inventory - Release 11i.4 Logical Data Model has initialization information initialization information for a inventory adjustment ITEM CATEGORY TYPE assigned to an item by ABC ASSIGNMENT GROUP is class for classifies inventory for ABC CLASS inventory classification for CYCLE COUNT results in results from contains CYCLE COUNT ADJUSTMENT ITEM CATALOG GROUP stores count tabulations in PHYSICAL INVENTORY SUBINVENTORY REPLENISH COUNT owned by COST GROUP owns has assigned to it owned by EXTERNAL ORGANIZATION has assigned in for groups basis for assigned to item categorizes has owned by attributes generates categorizes adjusted by assigned by derives counts items for CUSTOMER SUPPLIER for owns has based on based on belongs to belongs to has groups basis for CUSTOMER SITE sells to attributes for adjusts source of results from for generates replenished from assigns derived from assigns SUPPLIER SITE assigned to has class assignment group assignment for used in compiled for item assigned to tabulates count for contained in grouped count for describe location of ITEM CATEGORY PO COMMODITY CODE owned by assigned to an item by ABC ASSIGNMENT GROUP CLASS ABC ASSIGNMENT CYCLE COUNT CLASS CYCLE COUNT ITEM PHYSICAL INVENTORY ITEM COUNT PHYSICAL INVENTORY ADJUSTMENT located ITEM REPLENISH COUNT replenished from COST GROUP ASSIGNMENT HR LOCATION ...
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...What advantage does zara gain against its competitors by having a responsive supply chain? It allows zara to match demand for fickle trends more accurately. This in turn means that they can sell products at full price and thus secure their margins and make a profit. It also increases customer loyalty to the brand as zara builds a reputation for being up to date on trends which increases demand products. It also allows zara to reduce inventories and forecast error. Why has Inditex chosen to have both in-house and outsourced manufacturing? In-house manufacturing is used as part of a responsive pull supply chain strategy and also as the final leg of its manufacturing process. After the sales season has started Inditex begins to use in-house manufacturing as a way of quickly responding to trends. It either makes new products or turns incomplete products made from its outsourced manufacturers and turns them into specific finished-goods in response to market demands. Outsourced manufacturing is used to create non-specialised products that can be produced in bulk. Why does zara source products within uncertain demand from local manufacturers and products with predictable demand from Asian manufacturers? Products with uncertain demand will most likely be produced at a lower volume to products with a certain demand and therefore sourcing from local manufacturers provides zara the speed it needs to test and deliver these products before they become obsolete and have to...
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...work had to get done. Even though I knew the main responsibilities of what needed to be done, there were the small things that I wasn’t too in tuned with that I needed to know. Well some of those small things were important because I was not doing specified tasks properly and my manager decided to have a meeting with me to go over everything that was supposed to be done in the back office and to make sure that I knew exactly what was going on step by step. I also had to virtually perform the tasks as well to show that I did comprehend how to do it. I felt that the communication was effective because I was more confident in my abilities to perform job which enabled me to perform better and increase productivity by being able to monitor inventory levels more closely and help the associates out by being able to replenish items that sell faster than others. Of course, replenishing those items means they can continue to be sold to customers which in turn generate revenue for the company which shows why my role is necessary. Helping the associates with products they need is also a necessary step to provide exceptional customer service which keeps them coming back to us to buy products. Word of mouth is one of the best ways to advertise and if customers tell their friends about how we handled their transactions, they will be more inclined to come into our store. With the way technology is rapidly changing, there is always something new coming out or a different way to go about doing...
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...Hypothesis Write-Up Participants who have depleted their self-regulatory resources will be willing to spend more on purchase items than those who have not. This is hypothesised with the support of previous literature in regards to self-regulation/self-control and relevant resource depletion. Self-regulation involves exerting control over oneself in order to maximise one’s benefits on a long term basis whilst consequently inhibiting immediate desires (Muraven & Baumeister, 2000). Because self-control involves cognitive processing, cognitive fatigue is the consequence of exerting self-control and thus replenishment would be required (Bargh & Chartrand, 1999). However, when one is before the stage of replenishment, and thus still in the state of depletion, one is likely to fail in further tasks involving self-control (Muraven & Baumeister, 2000). Furthermore, fatigue is known to hinder one’s capacity to exert self-control, particularly in the late evening (Baumeister & Heatherton, 1996). From Bargh and Chartrand’s (1999) study which found that the act of exerting self-control itself causes fatigue, a cyclic effect is seen as fatigue, as mentioned above, obstructs the exertion of self-control. Participants with depleted self-regulatory resources are hypothesized to be willing to spend more than non-depleted participants because spending, or more importantly, not spending, requires self-control, and thus self-regulatory resources. As discussed above, when...
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...Susan Bloemke June 14, 2015 Discussion Case: Coca-Cola’s Water Neutrality Initiative 1. The public issue facing Coca-Cola Company was that its stakeholders were upset with Coca-Cola because of the impact of its excessive water use on local communities. “The Center for Science and the Environment also charged that Coca-Cola products contained dangerous levels of pesticide residues.” Local officials were shutting down a local plant in the state of Kerala. “An Indian court issued an order requiring soft-drink makers to list pesticides residues on their labels.” In the United States, a grassroots campaign was established “to convince schools and colleges to boycott Coca-Cola products.” (Lawrence and Weber, p. 43) The performance-expectations gap is “the perceived distance between what a firm wants to do or is doing and what the stakeholder expects.” (Lawrence and Weber, p. 548) Stakeholders expected a large company such as Coca-Cola to be more proactive about being sustainable and protecting the communities that were home to its factories. The performance expectation gap was large because what the communities were expecting from Coca-Cola was much higher than what Coca-Cola was performing. Stakeholders expected: * Coca-Cola plants to be more sustainable in regard to the natural resources it was using in production, and * offer products that were pesticide free. Coca-Cola was: * producing products that were containing pesticides and not disclosing that...
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...Explanation on the basis on which inventory management is done, the different type of inventory models in the context of the assignment given. The process in which each of them is used. This would help you decide the right inventory model. Pl go through this properly. As a growing corporation in the e-commerce retail apparel industry, XYZ has recently been under pressure to package and ship a higher volume of clothes. In order for the corporation to meet this demand, XYZ’s executive staff must decide either to increase its staffs’ hours in the logistics department and potentially hire another employee or bulk ship inventory to Amazon warehouses to be fulfilled through Amazon Prime. The executive team was able to recreate these two scenarios through linear programing and has determined that the company will seek more profit by utilizing Amazon’s fulfillment services. After analyzing the sales model of using Amazon Inc. fulfillment the recommendations for management are to focus on inventory limits and create patterns that will help forecast the inventory needed. By seeking out inventory models, which resolves dual problems of maintaining sufficient inventories to meet demand, we are able to successfully determine the appropriate inventory limits needed for this operation. Now we see that there could have been many solutions like for low values of demand, fulfillment should be done in-house and for high values direct shipping should be used. When demand is comparable to capacity...
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...INVENTORY MANAGEMENT SYSTEM CONTENTS • ACKNOWLEDGEMENT • INTRODUCTION • PURPOSE • INVENTORY INVESTMENT CONTROL • FACTOR THAT AFFECT INVENTORY MANAGEMNT • INVENTORY REPLENISHMENT • REQUIREMENT SPECIFICATIONS • DATA FLOW DIAGRAM (DFD) • ENTITY RELATIONSHIP DIAGRAM (ERD) • REFERENCES ACKNOWLEDGEMENT I am thankful to miss Maneet kaur for providing me the task of preparing the term paper on INVENTORY MANAGEMENT SYSTEM. I am at lovely believe in taking challenges and the term paper provided me the opportunity to tackle a challenge in the subject of data base management system. This term paper tested my patience at every step of preparation but the courage provided by my teacher helped me to swing against the tide and move against the winds. I am also thankful to my friends and my laptop to providing me help at every step of preparation of the term paper. INTRODUCTION You are in trouble if you have to keep telling customers, "I'm sorry we're out of that size. May we order it for you?" Even though the shirts are selling briskly, you will lose customers if you don't have an item in stock. When the customer spends, you have got to be ready with the goods. This is what inventory management is all about. In many retail and wholesale operations, the single largest asset is inventory. Control of this investment is vital. It will eliminate a number of the problems associated with capital shortages and will also provide capital to permit expansion of operations for increased sales and profit...
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...process) reacting directly to consumers demand. This shift implies a decentralization of the supply chain hence, requiring higher costs and poorer utilization (i.e. efficiency loss). Furthermore, training costs incur since employees at the stores need to run the machines. 1.2 Local Inventory Keeping stock holdings high at the store also is a way of being responsive and offering a high service level. Although this allows for the centralization of cooking equipment, extra space is needed and the efficiency of the supply chain is contingent on the correct forecast of demand thus, creating idle inventory or even wasted inventory if the products are perishable when demand deviates from the inventory level. 1.3 Rapid Replenishment This approach is used by Seven-Eleven. High delivery frequency sets a high responsiveness at the store but increases delivery costs. Furthermore, it keeps the absolute number of inventory items needed to run the store low (i.e. stores are can be smaller than if local inventory was build up), even though the store capacity usage is high. Rapid replenishment also leads to a lower safety stock. Overall increasing responsiveness also increases cost. 2 Rapid Replenishment * As stated above, a high delivery frequency increases delivering costs. Also, the time spent for receiving the products coming in increases with the number of deliveries. Depending so heavily on their delivery system, in order to offer changing merchandise mix by location...
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...requirements and/or allocations for the given item. Pegging can be thought of as active where-used information. ABC Inventory Control An inventory control approach based on the ABC classification. According to this classification, the groups of items are placed in the decreasing order of annual dollar volume (price multiplied by projected volume) or some other criteria. This array is then split into three classes, called A, B, and C. The A group usually represents 10% to 20% by number of items and 50% to 70% by projected dollar volume. The next grouping, B, usually represents about 20% of the items and about 20% of the dollar volume. The C class contains 60% to 70% of the items and represents about 10% to 30% of the dollar volume. The ABC principle states that effort and money can be saved through applying looser controls to the low-dollar-volume class items than will be applied to high-dollar-volume class items. The ABC principle is applicable to inventories, purchasing, sales, etc. Available Inventory The on-hand inventory balance minus allocations, reservations, backorders, and (usually) quantities held for quality problems. Often called beginning available balance Safety Stock The level of inventory desired at any time to counterbalance the many uncertainties met in a supply chain. Cycle count An inventory verification method that uses periodic, scheduled counts of inventory and associated locations to determine accuracy. Count schemes may be designed based on usage volume, all parts...
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...1. Question Supply Chain Resources definition are Materials, People, Information, Money or any other such resources that must be managed for profitable business operations. Define and describe brief information of the resources defined. Supply chain management (SCM) is the management of the flow of goods. It includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Interconnected or interlinked networks, channels and node businesses are involved in the provision of products and services required by end customers in a supply chain. Supply chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally. SCM draws heavily from the areas of operations management, logistics, procurement, and information technology, and strives for an integrated approach. Commonly accepted definitions of supply chain management include: • The management of upstream and downstream value-added flows of materials, final goods, and related information among suppliers, company, resellers, and final consumers. • The systematic, strategic coordination of traditional business functions and tactics across all business functions within a particular...
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...SPD4198 Global Supply Chain Management Lecture 7: Strategic Alliance and Outsourcing SPEED, HK Polytechnic University Lesson Seven Strategic Alliance and Outsourcing Barilla SpA Part A Strategic Partnership 2 Barilla Spa Part A Barilla SpA is the world’s largest pasta manufacturer The company sells to a wide range of Italian retailers, primarily through third party distributors During the late 1980s, Barilla suffered increasing operational inefficiencies and cost penalties that resulted from large week-to-week variations in its distributors’ order patterns 3 Barilla Distribution Patterns Barilla Dry Product Factories 65% TL 10% TL 35% TL 18 Barilla-Run Depots Barilla CDCB 90% TL Grande Distributions Distributions Organizers LTL LTL LTL Signora Maria Shops Independent Supermarkets Chain Supermarkets TL = Delivery in truck-load quantities;. LTL = Delivery in less-than-truck-load quantities Shipping percentages are based on product weights 4 Weekly Demand for Barilla Dry Products from Cortese’s Northeast Distribution Center to the Pedrignano CDC, 1989. 5 Questions What exactly is causing the distributor’s order pattern to look this way? What are the underlying drivers of the fluctuations? 6 Causes for Demand Fluctuations Transportation discounts Volume discount Promotional activity No minimum or maximum order quantities Product proliferation Long order lead times Poor customer service rates Poor communication 7 Demand...
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...1.1 INTRODUCTION Inventory Management An Inventory is a Stock or Store of goods kept to meet customers expected demand. Inventory can also be defined as the stored accumulation of transformed resources in a process, and it usually applies to material resources but may also be used for inventories of information. Almost all operations keep some kind of inventory, most usually of materials but also of information and customers (Customers inventories are normally called Queues). These inventories can take various forms, which includes raw materials purchased but not processed, work- in- process (WIP) incomplete products or components nor longer considered raw materials., maintenance, repair and operating materials which are supplies necessary to keep machines running and finished goods inventory which are ready to be sold.(Anonymous, 2007) Inventories are costly, as they sometimes tie up working capital. They are also risky because items held in stock may deteriorate, become obsolete, or indeed get lost. Stocks also take up valuable space. On the other hand they provide security in uncertain environments because the operation can deliver stocks should customers demand them. Inventory management in some operations is more than just a part of their responsibility; it is the very reason for being in business (Slack et al 2007). 1.1.2 DISCUSSION The five performance objectives are Quality, Speed, Dependability, Flexibility, and Cost. Quality Many...
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...1. Introduction Vendor Managed Inventory popularly known as VMI is gaining great momentum in retail business processes. In this era of tough competition retailers are implementing every supply chain optimization process that will reduce their costs, reduce inventory levels and increase profits. Efficient supply chain management requires the rapid and accurate transfer of information throughout a supply system. Vendor Managed Inventory (VMI) is designed to facilitate that transfer and to provide major cost saving benefits to both suppliers and retailers customers. Vendor Managed Inventory is a continuous replenishment program that uses the exchange of information between the retailer and the supplier to allow the supplier to manage and replenish merchandise at the store or warehouse level. In this program, the retailer supplies the vendor with the information necessary to maintain just enough merchandise to meet customer demand. This enable the supplier to better project and anticipate the amount of product it needs to produce or supply. 2. Definition and Concept Vendor managed inventory process can be defined as “A mechanism where the supplier creates the purchase orders based on the demand information exchanged by the retailer/customer”. To say this in simple terms, VMI is a backward replenishment model where the supplier does the demand creation and demand fulfillment. In this model, instead of the customer managing his inventory and deciding how much to fulfill...
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...IE 361 HOMEWORK 1 In this homework, we have dealt with an inventory problem of an electronic store particularly their mobile phone stocks. We have worked on two alternative scenarios which selling with backordering strategy and without it. Dt=Demand for mobile phones on week t.( Poisson Distribution) Dt={0,1….m} Xt=Inventory level at the end of week t. S=Maximum amount of inventory level. s=Minimum inventory level that does not required new order.(if inventory level strictly below of s , company gives order and complete their inventory level to S at the beginning of new week.) Xt <s company buys Ot=S-Xt Order of company(Ot) = Xt≥s company buys nothing. t=0,1……n CASE A In this case, company sell mobile phones with backordering strategy. i) State= the inventory level at the end of week t. S={(s-m),……………,S } At the beginning of the week the lowest inventory level can be s, so that the minimum inventory level can be s-m which m is the maximum number of demand. ii) Xt <s Xt+1=S-Dt+1 Xt≥s Xt+1= Xt -Dt+1 iii) Xt=i Xt+1=j So; i<s j=S-Dt+1 Dt+1=S-j i≥s j= i -Dt+1 Dt+1=i-j Due to the reason that the demand function is distributed with poisson distribution. We use the probability function of Poisson which is; P(X=a)= λa*eλ/a! Therefore, we use adjust this equation according to our demand function...
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... * “Costs are Flying High – Fear of Inflation Looming” * “Another Real Estate Frenzy – It’s HOT in Edmonton and Calgary” (6) Individual impacts of the three events respectively on inventory management 1) If oil prices rise 25%, the cost of production and manufacturing will go up. The cost of transportation will be rising, so ordering larger quantities of inventory less frequently will decrease transportation costs. The 25% increase will also create more work, which will lead to an increase in spending. This increase in spending will make up for the extra inventory that retail stores are holding. 2) If costs rising and a fear of inflation, spending will go down, manufacturing costs will rise and inventories will be lower for retailers to reduce a possibility for write-offs. Interest rates will also rise therefore reducing overall spending. 3) People are making large purchases in the real estate sector, spending is high so retailers will be stocking up more frequently and have more on hand inventory. Buffer stock will be higher to keep up with demand. a. (2) Collective and combined impact of the three events on inventory management With all three events happening simultaneously retailers will be holding small buffer stocks, ordering more frequently to reduce on hand inventory. Spending will be high then minimal so ordering frequently to keep up with demand. However when spending slows retailers will be ready with minimal...
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