what is inventory-presentation

8/3/2019 What is Inventory-Presentation

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Inventory

managementPresented by:

Akansha

Kalpna


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What Is Inventory?

Stock of items kept to meet futuredemand

Purpose of inventory management

-how many units to order

-when to order


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Inventory and Supply ChainManagement Bullwhip effect

demand information is distorted as itmoves away from the end-use customer

higher safety stock inventories are stored

to compensate Seasonal or cyclical demand Inventory provides independence from

vendors

Inventory provides independence betweenstages and avoids work stop-pages


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Inventory and QualityManagement Customers usually perceive quality

service as availability of goods theywant when they want them

Inventory must be sufficient to providehigh-quality customer service in TQM


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Inventory Costs

Carrying cost cost of holding an item in inventory

Ordering cost

cost of replenishing inventory

Shortage cost

temporary or permanent loss of sales

when demand cannot be met


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inventory control

Inventory control is the technique ofmaintaining the size of the inventory atsome desired level keeping in view the

best economic interest of anorganization.


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Objectives of inventory control

Protection against fluctuations indemand;

Better use of men, machines and

material; Control of stock volume;

Control of stock distribution.


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Inventory Control Systems

Continuous system (fixed-order-quantity) constant amount ordered when inventory declines to

predetermined level

Periodic system (fixed-time-period)

order placed for variable amount after fixed passage oftime


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Steps in Inventory control

Deciding the maximum- minimumlimits of inventory;

Determination of Reorder point;

Determination of reorder quantity;

ABC analysis.


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Maximum stock level

Quantity of inventory above which shouldnot be allowed to be kept. This quantityis fixed keeping in view thedisadvantages of overstocking;

Factors to be considered: Amount of capital available. Godown space available. Possibility of loss. Cost of maintaining stores; Likely fluctuation in prices; Seasonal nature of supply of material;


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Minimum stock level

This represents the quantity belowwhich stocks should not be allowed tofall .

The level is fixed for all items of storesand the following factors are taken intoaccount:

1.Lead time-2. Rate of consumption of the material

during the lead time.


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Economic Order Quantity (EOQ)

EOQoptimal order quantity that will minimize

total inventory costs

It is also known as standard orderquantity , optimum quantity oreconomic lot size.

By definition economic order quantitythat size of order for which the totalcost is minimum.


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ABC Analysis It is efficient control of stores requires greater in case of

costlier items.Item Quality Quantity order CheckingA Costlier Less Regular system to

see that there isno overstocking

as well as thatthere is no dangerof productionbeing interruptedfor unwantedmaterial.

B Less costlier Order may be onreview basis.

Position beingviewed in eachmonth

C Economical Larger Order in largequantity so that

cost can beavoided


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Factors which helps to make systemsuccessful

Stores ledger, stores control, cards orbin cards are properly maintained ;

Quantity balance store shown in thestore ledger.


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Daily Inventory Balance Record Product

Month Year

1 2 3 4 5 6 7

Opening Physical

Inventory

Deliveries Meter Sales Inventory Should Be Physical Inventory Variat ion Today Variat ion This

Month

1

2

3

4

5

6

7

8

9

10

1112

13

14

15

16

17

18

19

20

21

22

2324

25

26

27

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29

30

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TOTALS

D

ay

Balance sheet is wereinformation is calculated todetermine losses and gains fromdaily sales. This is a veryimportant part of fuel

management it will give youimportant records of sales (thisis inventory control).


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Month

Total

Sales

Variation

for Month

% LossTotal

Sales

Variation

for Month

% LossTotal

Sales

Variation

for Month

% Loss

Monthly Summary

Product Product

Storage Capacity

Product

Storage CapacityStorage Capacity

This is were we record our calculated losses and gains for

every individual month. This sheet is used for the yearssales report. Will give you sales of individual months.Record keeping is a important method of tracking yourinventory.


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Inventory Turnover method

It means how many times a companysinventory is sold and replaced (finishedproduct)

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RFID

RFID stands for Radio frequencyidentification. RFID is an automaticidentification method, relying on

storing and remotely retrieving datausing RFID devices. Rfid deviceconsists of an object called RFID TAG

which can be incorporated in toproduct, animal or in a person for thepurpose of identification and trackingusing radio waves.


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Cont

Most RFID TAGS contain two parts: one is anintegrated circuit (RFID CHIP) for storageand process of information, MODEM functionfor RF signal. The second is an RFID

antenna for receiving and transmitting thesignal.

Chip less RFID allows for discreteidentification of tags without an integrated

circuit, thereby allowing tags to be printeddirectly onto assets at a lower cost thantraditional tags.


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TYPES OF RFID TAGS

There are three types of RFID TAGS:

1> Active RFID Tags: This RFIDTransponders contains a battery and cantransmit signals independently.

2> Passive RFID Tags: Such kinds oftransponders do not have battery.So theyrequire external source to activate signaltransmission.

3> Battery assisted Passive: It providesgreater range.


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RFID Manufacturing Firms

Mantra Softech is an ISO 9001:2000 RFID and othersecurity solutions provider in INDIA. Not only to this,Mantra Softech is one of the efficient RFIDmanufacturers in INDIA.

The Tag Factory-Manufacturer of RFID Tags:

Rapid Radio Solutions Pvt. Ltd.

Nestwell Technologies

Creed Engineering Pvt. Ltd.

Radient Polimers Pvt. Ltd.

Impact Services TVS Enteriprises

Dash International, New Delhi


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RFID PRICE LIST

RFID tag costs between Rs 5 to 6/- inIndian currency.


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what is inventory-presentation

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