Effective Inventory Control and Management: a Case Study of Ikea

15896 Words Oct 28th, 2012 64 Pages
“EFFECTIVE INVENTORY CONTROL AND MANAGEMENT: A CASE STUDY OF IKEA”

UNIVERSITY OF WALES

JANUARY 2012

Table of Contents
ABSTRACT 4
CHAPTER – 1 5
1.1 INTRODUCTION 5
1.2 BACKGROUND OF THE ORGANIZATION 7
1.3 OBJECTIVES 8
1.4 RESEARCH QUESTIONS 8
1.5 PURPOSE OF THE RESEARCH 9
1.6 DELIMITATIONS 9
1.7 TARGET GROUP 10
1.8 JUSTIFICATION FOR CHOOSING THIS RESEARCH TOPIC 10
1.9 PROBLEMS FORMULATION 11
1.10 OVERVIEW OF THE DISSERTATION 11
2.4 INVENTORY CONTROL 17
2.5 APPROACHES USED FOR INVENTORY CONTROL: 17
2.6 INVENTORY CONTROL SYSTEM 19
2.7 INVENTORY MANAGEMENT SOFTWARE: 20
2.7.1 Components of the software: 20
Asset tracking 20
Barcoding 20
Order
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The company can overcome these challenges if it will be enhanced its strengths and overcome its weaknesses by various efforts. The analysis of target market has to done very properly so that company’s products will be purchased by more and more clients and company will earn profits and generate more revenues. This research paper is mainly related to the fact that how multinational companies manage all its operations related to the inventory and its control. Various processes such as customer requirements, operations management, monitoring projects and other theories and processes applied in actual operation are studied here. In this research various findings related to the management of inventory and its control are gathered that underpins the theoretical aspects and the real strategies behind this concept.

To ensure the correct supply of items or material at perfect timing the supervision of supply, its storage and good accessibility is required and that can be done with control of the inventory.

This is also called as internally control of all the things. Inventory control is an accounting process or system that is made for promoting efficiency or ensures proper implementation of a policy or safeguards for the assets to reduce any error or fraudulent activity.

Inventory control can be explained as following ways also:

▪ In economics, it can be elaborated as the inventory control problem, that’s main objective is to decrease the overhead cost without

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