| Topic : Effectively Managing Replenishment And Inventory Levels |
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Inventory Controllers
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Activity:
24 views;
last activity : 07 06 2010 20:18:09 +0000
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Accurate Scheduling system
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Material requirements planning
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An efficient ERP function
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This is vital to the efficiencies to be realized in turning around inventory. It is an accurate pull-production scheduling system whereby raw material and/or parts needs are anticipated in advance. Here we can provide for just-in-time inventory management and cost savings through economies of scale purchasing provided we have a good knowledge of our future needs. |
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JIT is not useful in recession. i beleive in recession one should have extra inventory to tap the price fluctuation. JIT is useful when fluctuation in cost is minimum.
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MRP involves getting material on hand when needed for production and should address such basic notions as when to place order, how much to order, which vendor to order from, and when the material/parts need to be on hand. So an efficient MRP program will schedule and reschedule materials as far into the future as required for repetitive production, and maintain inventory at minimal levels to eliminate waste, thereby improving the margins. |
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Yes we use MRP and it works wonders
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To enhance inventory turnaround, enterprise resource planning software is developed to integrate all aspects of plant operations to bring real-time data to help determine optimum inventory acquisitions/replenishments in relation to incoming sales orders and outgoing finished products. |
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As there is no set pattern of the sales in retail sector hence we cannot equation between salesand inventory level ,it is possible in manufacturing sector, as far as retail sector is concern its all about making available all the goods ( fast or non moving ) we never know sometimes non moving may be fast moving and despite knowing all we have to keep these type of inventory . MRP is helpful in tracking the trends of these type of goods and increasing the sales turnover by offering season discount , replishment of inventory etc..
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