Inventory System Essay

Study: Report Discussion Question 1: Design an inventory control system for this business Consolidated Electric is a whole sale distributor of electrical equipment’s and supplies to electronic contractor owned by Joe Henry with an average sale of 20,000 line items. The current inventory method supported is a manual Cardex System which is outdated and not a cost effective way to manage the company inventory system. It is an Independent demand system which is directly proportional to the market…

The types of adjusting journal entries I would make in the periodic vs the perpetual would be ones to the purchase account. The account is recorded with each transaction as a single journal entry. Considering the cost of goods sold and merchandise inventory is not updated…

pursuing a revamp of their information management process to continue to advance in profitability Business situation The owners have recognized the imminent need to update the IT equipment, computer software applications, and inventory processes. A main concern is the inventory is not available in real-time which leads to overstock of some products and being out-of-stock on others. In one month, a popular menu item was out-of-stock on (6) different occasions. Utilizing an Excel…

mechanism for computing unit product cost. Besides that, both system use the same manufacturing accounts, including manufacturing overhead, raw materials, work in process and finished goods. The differences of this two system is process costing used when a single product is produced on a continuing basis or for a long period of time. Other than that, Process costing system accumulate costs by department but difference with job-order costing system which accumulated costs by individual jobs.…

Industries hold spare parts inventory for equipment repairs and support purpose only. It is different from other types of inventory that is used in production for conversion raw material to finished goods. This distinction keeps spare parts inventory apart from other types of inventory. It suggests a separate inventory system for spare parts inventory to control critical and valuable items stringently. Spare parts inventory is important for carrying out timely maintenance and bringing broken…

My team for the Business Strategic IT Project evaluated the IT and information systems for the company Netflix. I worked with JJ Good and Ashley Mahaffey to accomplish a thorough analysis of Netflix and how the company used IT to further its success. We extensively researched the history of our company by specifically focusing on what the company does to make itself unique. Next, we evaluated Netflix’s IT strategy to understand how they plan to execute their goals and milestones. One way to…

react faster to market trends and to reduce the risk of the product being heavily overstocked or out-of-stock. Implementation of a QR based system would improve the performance of the supply chain and thus reflect positively on the division’s profits. This system is a combination of the ‘Just-in-Time’ system (JIT) and the latest Information Technology based systems to help the supply chain process flow more efficiently (1). The significance of the Qr approach in improving the supply chain…

ascertain the optimal inventory level. As this technology allows a greater tool for demand planning, its use will introduce the ability to perform both prescriptive and predictive demand forecasting. The AI system will be able to predict the future demand of both existing and new products new to the market. With the use of such a system, artificial intelligence will determine the most profitable and cost efficient solution for all supply chain…

your dog is here to stay with us, we will make sure they get plenty of play and are as comfortable as possible. We are here to make your dog happy and by doing so, make you happy. We will give your dog as much care and attention as humanly possible. We treat every dog equal and as our family. We want you to come back and will treat you and your dog with respect. We would love your feedback and will try to make any changes possible to make sure you are happy with your dog’s stay. We are here to…

because it is the least expensive, the simplest and at least time consuming activity in showing operation improvement. People are believed to behave on the bases of how they are measured. A positive outcome is highly dependent on how well the delivery system, financing, the supply chain, information, the personnel are performing. Improvement of supply chain performance, requires the understanding of the currently performing, an example is the need measuring. The information shows the…