Inventory Systems
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Inventory Systems – Learning Team B
Quantitative Reasoning for Business/QRB501
Date: December 19, 2011
Table of Contents
Page
Abstract 3
Introduction 4
Examples of Inventory Systems 4 - 6
Advantages and Disadvantages 6 - 9
Conclusion 9 - 10
References 11
Abstract
Inventory systems are critical to the smooth functioning of every retail and wholesale operation. Organizations utilize different inventory systems based on their requirements and the capabilities of their resupply system. This paper will show different inventory systems from the United States Army, Boeing, Dos Locos Mexican Restaurant, and Wal-Mart as well as an overarching inventory system provided by Microsoft. This paper will analyze each system and compare and contrast them based on their advantages and disadvantages.
Inventory Systems
An inventory system is the way an organization maintains inventory of its stock. Most inventory systems are software based-tools that automate the process of tracking inventory, though some organizations still use manual inventory. Inventory control systems can include almost any quantifiable good from food and clothing to equipment or ammunition. It can be any item that an organization needs to maintain for its consumers, retailers, or wholesalers (Barcodes Inc., 2011). Most modern inventory control systems use barcode or radio frequency identification (RFID) technology, though some organizations do use manual inventory systems. Below are five examples of such inventory systems.
Examples of Inventory Systems
The United States Army uses a perpetual inventory system called the Standard Army Ammunition System – Modernization, or SAAS-MOD, to maintain inventory of ammunition supplies worldwide. Haber defines a perpetual inventory system as “an inventory system in which the balance in the inventory account is adjusted for the units sold each time a sale is made” (Haber, 2004, p. 161). SAAS-MOD is an automated accountability system that...
Quantitative Reasoning for Business/QRB501
Date: December 19, 2011
Table of Contents
Page
Abstract 3
Introduction 4
Examples of Inventory Systems 4 - 6
Advantages and Disadvantages 6 - 9
Conclusion 9 - 10
References 11
Abstract
Inventory systems are critical to the smooth functioning of every retail and wholesale operation. Organizations utilize different inventory systems based on their requirements and the capabilities of their resupply system. This paper will show different inventory systems from the United States Army, Boeing, Dos Locos Mexican Restaurant, and Wal-Mart as well as an overarching inventory system provided by Microsoft. This paper will analyze each system and compare and contrast them based on their advantages and disadvantages.
Inventory Systems
An inventory system is the way an organization maintains inventory of its stock. Most inventory systems are software based-tools that automate the process of tracking inventory, though some organizations still use manual inventory. Inventory control systems can include almost any quantifiable good from food and clothing to equipment or ammunition. It can be any item that an organization needs to maintain for its consumers, retailers, or wholesalers (Barcodes Inc., 2011). Most modern inventory control systems use barcode or radio frequency identification (RFID) technology, though some organizations do use manual inventory systems. Below are five examples of such inventory systems.
Examples of Inventory Systems
The United States Army uses a perpetual inventory system called the Standard Army Ammunition System – Modernization, or SAAS-MOD, to maintain inventory of ammunition supplies worldwide. Haber defines a perpetual inventory system as “an inventory system in which the balance in the inventory account is adjusted for the units sold each time a sale is made” (Haber, 2004, p. 161). SAAS-MOD is an automated accountability system that...