IMS

Development of inventory management system 2014

Caballero, ann gellian

marie joy lumag

Florencio oineza

Dequilla bsie

OBJECTIVES OF THE STUDY

The main objective of this study is the material evaluation through inventory management system. This
study aims the following specific objectives.

1. To design an inventory management system in edna’s footware

2. To develop the inventory management system
3. To evaluate the I m s in terms of applicability usability and effectiveness

Conceptual frame work

The researcher’s conceptual framework is designed to meet the objectives of this project study.
This part includes gathering existing data that were used in a basis in re designing existing I m s
Developing a conceptual framework gives the researcher an insight regarding on the changes
and re designing of the I m s by using appropriate quantitative tools in the areas that needs an
improvement particularly in I m s.

Input
Existing I m s
Process
Data gathering and analysis
Design of I m s
Development of I m s
Evaluation of system
Output
Developed inventory m s

RRL
1. Inventory management-(chopra and meindal 2007) Inventory management is a stock of any
term resources used in an organization, it is a set of policies and control that monitor levels
of inventory and determine what level should be maintained, when stocked be replenished
and how large orders should be.
 Inventory management is the main focus of the study. It helps to reduced cost by avoiding
of overstocking of materials. The main objective of the study is to implement an in=mproved
management system. Improper management of inventory can lead into unnecessary actions
and decisions of a business like shutting down.
2. Re – ordered point
According to Joannes Vermorel. Re order point is inventory level of an item which signals
that need for a replenish order. The re order point is classically viewed as the sum of the
lead demand plus the safety stock. At a more fundamental level, the re order point is a
quantile forecast of the future demand. The calculation of the optimized re order point
typically involves the lead time, service level, and the demand forecast. Replying on a native
quantile forecast vastly improves the quality of the re order point for most retail and
manufacturing business.
Re order point determined when is the best time to replenish stocks and the right amount
of stocks to be ordered. This helps the researcher to avoid the overstocking at edna’s
footware as what have stated in the researcher problem. Re order point helps the
researcher to minimize the cost in inventory.

Improvement of I M S at chris sport SM lucena 2016

Alonzo, Aquino, pavon, reyes

Elements of a good I M S

An article titled Inventory Basis- Inventory Management provides a detailed guide to better improve a
business’s inventory management system. The article contains elements that could be used by the
researchers to fully develop the proposed inventory management system at chris Sports- SM LUCENCA
CITY

According to the article, a good I m s is composed of particular elements known as well-organized

names, location labels, item descriptions, item numbers, good starting count, and creating policies and
training people about the entire Inventory system. The aforementioned elements are discussed below

Well organized names, and location labels- if an item can be stored somewhere, that “somewhere”
must have a name, and it should be labeled with that name. if doesn’t time will be wasted looking for
things, people will stock things in the wrong place, locations will get referred to by more than one name,
and your inventory will be in constant drift toward disorganization.

Item Description- all of your items should have well-defined unique descriptions, for many of the same
reasons that apply to locations. Without good descriptions, people can become confused about whether
or not they have stocks on an item needs to be ordered.
Item numbers- it also help uniquely identify items, but one of their greatest benefits is lost on people
who haven’t used a software system to track their inventory: they serve as a shorthand, or abbreviated
item description.

A proposed I M S for headliners hair straightening and beauty center 2009

Andes, aldwyn

Rrl

ECONOMIC ORDER QUANTITY

Economic order quantity or economic lot size model is the most widely used and traditional means for
determining how much to order in a continuous system. It is the order size that minimizes the sum of
carrying costs and ordering costs. These two costs react inversely to each other, thus, if the order size
increases, fewer order are necessary, causing the ordering cost to decline, whereareas the average
amount of inventory on hand will increase, resulting in an increase in carrying costs (russel et, al 2003).
In effect, the optimal order quantity represents a compromise between these two inversely related
costs.