Case Study Of Harley Davidson Inventory Management

Abstract —There are some complex and compelling challenges that global manufacturing industries should face, which includes price fluctuation, supply-chain inefficiencies and increasing customer expectations. In order to meet the demand of this economic environment, manufacturers need to find innovative, smarter ways to face those challenges. Thus, the efficient inventory management becomes urgent to manufacturers and it could help improve profitability and increase customer satisfaction. This paper aims to talk about what inventory management is and its importance, what problems inventory management might have and how to improve inventory management efficiency.

Merchandising inventory is goods that have been acquired by a distributer, wholesaler, or retailer from suppliers with the intent of selling the goods to third parties. (Accountingtools.com, 2015) When choosing the type of method to use for merchandising inventory it is important for the business to understand what type of services or goods that are being provided. This can offer a better insight to the proper and most cost effective method. When deciding there are four types of inventory cost methods to elect from.

Setup Costs: costs to prepare a machine or process for manufacturing an order; may be highly correlated with setup time

The number of cars waiting in line would have to be no larger than the number of space available, so calculations carried out basing on M/M/1 Model would be unrealistic.

In addition to this, the new system allows the request to be rematches to different vehicles. It can also examine a range of different type of vehicles to determine when the service will get a greater benefit. The approach was started first by making a graph of all the requests and all the vehicles. After that, it creates a second graph of all the possible trip combinations and uses a method like linear integration programming to calculate the best assignment of vehicles to trips. After the cars are assigned, the algorithm can then rebalance the remaining vehicles by selling them to highly demanding

Inventory planning is done through a stream of information, which is shared between vendors and allows independent vendors assess how much inventory is being made and allows everyone to be on the same page. This helps

Rather than simply control supply and materials to come up with an effective inventory control system, it fully integrates the computerized information to feed into all aspects of the company. Thus, accounting, human resources, facilities and finance have access to information about the upcoming needs of the company. A shared database of common information is available to all and therefore allows for a coordinated approach to managing the company.

Inventory is the total quantity of materials or goods contained in a factory or store at any given time. The owners of store need to be familiar with or know the exact figure of items on their storage areas and shelves in order to place losses or orders. Factory managers should know how the number of units of their goods that are available for client orders. The word inventory can be used for both the overall sum of goods and the work of summing them. In the case of racket science retailing, the company usually takes a record of its supplies on a regular manner in order to keep away from running out of common items. To some extent, the company takes inventory to make sure that the number of products ordered matches the real number of products or items counted physically. Normally, in cost accounting, averages or shortages after an inventory indicates a problem with theft (mostly referred to as 'shrinkage' in retails) or inaccurate accounting practices. Rocket science retailing also takes a record of stock after every trading

Queueing analysis has been used in hospitals and other healthcare settings, but not fully utilized. There has been no proper approach in dealing with queues theory and models and accompanying risks, some of which will be still contentious. Due to the myriad of health risks that come with patients taking long on queues, there is need to investigate and unravel untold sufferings among the patients, The results of this study will be used to a larger extent by the medical practitioners in the Ministry of Health, County Governments and Iten County Referral Hospital management to ensure that queuing theory is properly

The data in the reports produced by the inventory system can be used to support

From the flow chart above, the Production Planning and Inventory Control Processes covers manufacturing, storage, and related areas. Specifically, the production planning controls the designing and management of the entire airplane manufacturing processes input material scheduling and acquisition, manufacturing, design, and material handling. The inventory control is on the design and management of storage procedures for the raw materials inputs in the airplane manufacturing processes, work-in-progress inventories, and final products.

This article was the most interesting out of the three articles I read. The author, Sam Graham, explains in this article what safety stock is and how to use it effectively and efficiently. Sam explains that he loves and hates safety stock simultaneously. He also explains that the reason for safety stock is to protect companies from uncertainty. This uncertainty comes because companies understand that they can never fully be in control. Sam also claims that certain companies can control their employees or their suppliers, but companies can never control both. There are three main uncertainties that companies face. Those uncertainties include variation in customer demand, supplier uncertainty, and quality.

Nowadays, in an era that has advanced technology and a place in the world. Everything can be linked only at your fingertips in the times of rapidly developing with the sophisticated technology of today. Therefore, an inventory system is also not lagging behind in introducing a method of keeping an inventory data systematically and safely. The system plays a very important role in improving the competitiveness of a business. Usually, organizations today face too many challenges to achieve the cost, speed and reliability. Efficient inventory system really help in order to make sure the store’s performance and data record is always in good condition and secured from abusers. The system basically to ease the admin to manage the

Inventory management has two very different, but effective methods: Vendor managed inventory, and consignment inventory. A company may choose to utilize either of these two methods to manage inventory. If a company is able to manage inventory, they will be better able to work the company's capital to the fullest extent. The following paper will identify the differences between the two as well as identify what type of company is best suited for each method.

Managing what's in a warehouse or on the shop floor can be extremely complex if you're looking for optimal cost and supply chain management capabilities( Needleman, 2017 ). Inventory estimation and control is directly impacted a company’s profitability.