Inventory Control


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Inventory control system software provided by Fafadia Tech.

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Inventory Control

  1. 1. Inventory Control SystemsSummary<br />Sidharth Shah<br />Fafadia Tech<br />
  2. 2. What is Inventory Control System?<br />Blind Monks and Elephant (Source: Wikipedia)<br />
  3. 3. Some definitions<br />Supervision of the supply and storage and accessibility of items in order to insure an adequate supply without excessive oversupply<br />Detailed monitoring and recording of product identifications and quantities to ensure proper planning, use, distribution and disposal<br />Consists of all the activities and procedures used to control and maintain the right amount of each item in stock or to provide the required level ...<br />
  4. 4. Case Study 1: PC Vendor<br />Has 4 shop retail chain, with 2 warehouse<br />Challenges<br />Not accurate track of available parts, prices and dead/slow moving items (Gray Area, specially when humans cannot remember more than 3 things at a time)<br />Inflow/Outflow mismatch<br />Billing and Invoicing still maintained by hand<br />Low accountability, high waste<br />Lot of adjustments to be made on paper<br />Sorry, out of stock<br />Don’t want to hire extra pair of hands to track inflow and outflow<br />Single Point of failure – E.g. when sick, no one has a clue of what's available <br />
  5. 5. Case Study 2: Goods Trader<br />3 warehouses, one show room (Crockery)<br />Challenges<br />Sales team has a guesstimate on available products (lack of company wide digital catalog)<br />Lack of infrastructure and employee co-operation<br />Losses due to Samples, replacements and breakage <br />Inability to take decisions due to lack of reports <br />
  6. 6.
  7. 7. Fail?<br />I had installed inventory control systems and failed. (Case Study 1) <br />Barcode didn’t work<br />Billing was generated again using hand<br />All I want is something that tracks inflow and outflow.<br />We don’t wish to invest in infrastructure since we have a people issue first (Case Study 2)<br />Heck we don’t even have electricity in 2 of our warehouses<br />
  8. 8. Top 5 reason<br />Inventory Information isn’t kept up-to-date<br />Inventory logistics are convoluted and difficult to follow<br />Users aren’t adequately trained on process<br />No process in place for timely notification of inventory status<br />Processes are reactive, not proactive<br />
  9. 9. Existing Solutions<br />
  10. 10. Pareto Principle(And how does it apply to software)<br />
  11. 11. Our Approach<br />Project Proposal<br />Iterative Development and Training<br />Kanban and Scrum<br />Eliminate Waste<br />Amplify Learning<br />Delay Commitment<br />Empower User<br />Advantages<br />Manage Risks and Client Expectation<br />Room to measure what works and what doesn’t<br />
  12. 12. For Proposals<br />Who are stake holder and key executors?<br />What is the current approach? <br />How do you see inventory control system, helping you?<br />What are key indicators, how does one measure it?<br />Who will benefit from it?<br />Reporting aspect<br />Existing infrastructure<br />
  13. 13. Inventory Control Technicalities<br />Reorder point<br />EOQ (Economic Order Quantity)<br />ABC Analysis<br />Raw material<br />WIP<br />Finished Goods<br />Policy <br />LIFO vs. FIFO<br />Tight integration with business rules/culture<br />
  14. 14. Screen Shorts<br />