scholarly journals Implementation of IoT-based Automatic Inventory Management System

2017 ◽  
Vol 5 (1) ◽  
pp. 70-75
Author(s):  
Eun-Soo Choi ◽  
Min-Soo Kang ◽  
Yong Gyu Jung ◽  
Jean Kyung Paik
Keyword(s):  
Inventory Management ◽  
Management System ◽  
Inventory Management System

scholarly journals Integrated Inventory Management Control Framework

2020 ◽  
pp. 147-157 ◽  
Author(s):  
H.R. Ganesh ◽  
P. S. Aithal ◽  
P. Kirubadevi
Keyword(s):  
Decision Making ◽  
Inventory Management ◽  
Performance Indicators ◽  
Management System ◽  
Management Control ◽  
Inventory Management System ◽  
Control Framework ◽  
Brick And Mortar ◽  
And Control ◽  
New Framework

The concept of minimum display quantity (MDQ) is unavoidable in brick-and-mortar retailing format owing to which, retailers need to ensure a minimum level of inventory displayed at each store irrespective of the revenue or inventory turns generated by a particular store. It is observed that majority of bricks-and-mortar retailers in India assume;(a) existing inventory management system is ideal to their store, (b) software solutions record accurate inventory movement, (c) involving store management team in inventory related decision making is risky/biased and most importantly (d) loss of sale due to stockouts is inevitable. Such assumptions and widely followed practice have created a predisposition and mindset in store managers and they believe that their store delivers revenue and profit to the best of its potential with the inventory which is made available to them through existing inventory management system and we cannot avoid a number of instances consumers are unsatisfied due to stockout situations. In this research, we have analysed the existing decision-making process and control systems related to inventory management of a select retailer, attempted to design a new framework and applied the same through an experiment to evaluate the change in (a) overall store profitability and (b) inventory related key performance indicators.

Methodics to Create Effective Inventory Management System in a Company

2014 ◽  
Vol 708 ◽  
pp. 245-250 ◽  
Author(s):  
Martin Hart ◽  
Miroslav Musil ◽  
Pavel Taraba
Keyword(s):  
Supply Chains ◽  
Inventory Management ◽  
Management System ◽  
Logistics Management ◽  
Management Systems ◽  
Global Markets ◽  
Industrial Companies ◽  
Inventory Management System ◽  
Business Conditions ◽  
A Company

Pursuant to the statistics data of Eurostat, the economy of European Union is slowly recovering from year lasting recession. The gross domestic product volume increased in 2nd quarter of the year 2013 by 0.3%. The industrial companies in EU are nevertheless facing still increasing competitiveness as the European and global markets are developing under current business conditions. To be successful within the frame of current supply chains the companies must have well-developed logistics management systems to effectively treat with flows streaming in their inner or outer supply chains. One of the main elements of company logistics management systems is inventory management subsystem to plan, to manage and to control particular stock items. In the paper it is briefly described the methodics to design effective inventory management system whether in industrial or service company.

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