Inventory Process Management & Optimization in Small Businesses : Based on Warehouse Management Systems & Inventory Management Approaches
Berezina, Ekaterina (2016)
Berezina, Ekaterina
Savonia-ammattikorkeakoulu
2016
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2016121220076
https://urn.fi/URN:NBN:fi:amk-2016121220076
Tiivistelmä
This study is conducted with a comprehensive review of the most common practices of inventory management strategies and warehouse management systems optimization. Due to a high level of competition in the market, a successful approach of the stock control has a significant impact on a company’s operations. According to the analysis of the case organization OOO “Million Roses” (LLC), several scenarios of conceivable modifications of the current inventory management and operations systems are developed.
Inventory management procedures described by the case company are revised according to the effectiveness and efficiency of the performance. Thus, improvements proposed with the help of the investigation, focus on the ABC-analysis of the industry’s complicated assortment and related procurement strategies, such as JIT and EOQ. An examination of the current database system adjusts concrete alternatives of the further WMS development and human resources allocation excluding the possibility of the existing software replacement.
Recommendations established in this paper are based on an extensive literature and other secondary sources review and approximate calculations. Hence, an empirical verification of figures and proposals is required to ensure their practicality. However, suggestions provided in the thesis define a direction of the inventory and warehouse management strategies, which are dedicated to reduce holding costs, decrease the level of obsolete goods and enhance the firm’s competitiveness during the process of further expansion.
Inventory management procedures described by the case company are revised according to the effectiveness and efficiency of the performance. Thus, improvements proposed with the help of the investigation, focus on the ABC-analysis of the industry’s complicated assortment and related procurement strategies, such as JIT and EOQ. An examination of the current database system adjusts concrete alternatives of the further WMS development and human resources allocation excluding the possibility of the existing software replacement.
Recommendations established in this paper are based on an extensive literature and other secondary sources review and approximate calculations. Hence, an empirical verification of figures and proposals is required to ensure their practicality. However, suggestions provided in the thesis define a direction of the inventory and warehouse management strategies, which are dedicated to reduce holding costs, decrease the level of obsolete goods and enhance the firm’s competitiveness during the process of further expansion.