Inventory Essays and Research Papers

Instructions for Inventory College Essay Examples

Title: Inventory Systems Paper Apple The writer paper requested information dataa inventory FIRST paper request required rest week 3 5 6 assignments seasonal data The paper abstract conclusion Write a description Apple inventory system 275 300 words length a comparison inventory system written 275 300 words

  • Total Pages: 2
  • Words: 580
  • Works Cited:1
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Inventory Systems Paper on Apple The same writer for the paper will be requested as the information/dataa inventory from this FIRST paper request will be required throughout the rest of the course (week 3, 5, and 6 assignments), which will need to be seasonal data .

The paper must have an abstract and conclusion.

Write a description of Apple inventory system that is 275 -300 words in length, then a comparison of the inventory system should be written in 275 or 300 words.

Chose accounting inventory system FIFO, you may choose an actual method of counting the inventory (bar code method, RFID, etc.), or you may choose to explain an integrated system of software that integrates several methods of counting inventory.

Please note that calculations of the four years of inventory data are not required, but need to state which data set and paste it into the paper.

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Apple Inc., is a highly successful firm. Inventory management is argued to have played an important role in that success by ensuring the goods get to the consumers in the right manner in a highly efficient and cost effective manner (Berka, 2009). To appreciate the inventories system it is necessary to look at the way in which inventory is accounted for, as well as the underlying inventory management systems.

Apple Inc., account for inventory using the first in first out system (FIFO). This is one of the most common methods of inventory valuation, calculated based on the assumption that inventory will all be utilized in date order. As inventories received into the company, it is assumed that the older stock will be utilized to fill the incoming orders (Elliott and Elliott, 2011). Therefore, valuation is relatively simple, using the most recent deliveries in reverse order to account for any inventory which remains the property of the company when the value is calculated. The FIFO is a theoretical approach, as the valuation will not always reflect the actual flow of the stock, although it will usually be rotated in line with the FIFO principles. The actual valuation given to the inventorying on hand will be based on the lowest of actual cost, or market value, whichever is lower (Apple, 2012).

The current inventory system was developed by the current CEO, and former COO, Tim Cook. Cook was brought in when Bill Gates return to Apple, at a time when the company was facing a large number of challenges (Nui, 2012). The Apple inventory system was a mess, and a great deal capital was tied up in the stock. The primary motivation in the changes created in the inventory management system were to eliminate the in-house manufacturing which would significantly reduce the amount of working capital tied up in stock. Furthermore, the systems were developed in order to streamline the inventories system to reduce the amount of goods that had to be held by the company. Tim adopted the view that "in the employee is evil," a term that has subsequently been widely cited (Nui, 2012). In order to hold minimal levels of inventory that still ensure there is sufficient to meet consumer demand, a perpetual inventory system had to be adopted. At any point in time the company can refer to the inventory system in order to know exactly what stock is held and where,

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Title: Inventory valuation utilized a key indicator users a determine success a company With answer questions 1 What methods inventory valuation 2 How a company decide method company Please discussion factors play a role decision

  • Total Pages: 3
  • Words: 1058
  • Bibliography:3
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Inventory valuation is utilized as a key indicator for many users as a way to determine the success of a given company. With that being said please answer the following questions:

1.What are the different methods of inventory valuation?
2.How would a company decide which method is most appropriate for their company? Please discussion the various factors that would play a role in this decision.

Log into the FASB Codification and access the FASB Statements of Financial Accounting Concepts. Address the following items:

1.Which concept statement addresses present value measurement in accounting?
2.What are some of the instances where present value concepts are used in accounting measurements?

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References:

1) Gibson SC. (2002). LIFO vs. FIFO: a return to the basics. The RMA Journal. RINA

2) Jonathan Coulter and Andrew W. Shepherd (1995), Inventory Credit -- An approach to developing agricultural markets, FAO, Rome,

3) Saxena, R (1 December 2009). INVENTORY Management: Controlling in a Fluctuating Demand Environment. Global India Publications. pp. 3- 24 -- . ISBN 978-93-8022-821-1.

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Title: Inventory Control Read case study Harvey Industries Provide reasoning current financial distress company make recommendations improvements company president Include specific recommendation Supply Chain Management chapter 15 Inventory Management chapter 13 recommendations deem reading

  • Total Pages: 2
  • Words: 951
  • Sources:4
  • Citation Style: APA
  • Document Type: Essay
Essay Instructions: Inventory Control

Read the case study below ?Harvey Industries?. Provide reasoning for the current financial distress of the company and make recommendations for improvements to the new company president. Include at least one specific recommendation for both Supply Chain Management (chapter 15) and Inventory Management (chapter 13), as well as any other recommendations you deem necessary from your reading. Provide your recommendations in a 2-4 page APA style paper.
Stevenson, W.J. (2011). Operations Management (11th Ed). New York, NY: McGraw Hill/Irwin.

Harvey Industries

Background

Harvey Industries, a Wisconsin company, specializes in the assembly of high-pressure washer systems and in the sale of repair parts for these systems. The products range from small portable high-pressure washers to large industrial installations for snow removal from vehicles stored outdoors during the winter months. Typical uses for high-pressure water cleaning include:
Automobiles Airplanes
Building maintenance Barns
Engines Ice cream plants
Lift trucks Machinery
Swimming pools

Industrial customers include General Motors, Ford, Chrysler, Delta Airlines, United Parcel Service, and Shell Oil Company.

Although the industrial applications are a significant part of its sale, Harvey Industries is primarily an assembler of equipment for coin operated self-service car wash systems. The typical car wash is of concrete block construction with an equipment room in the center, flanked on either side by a number of bays. The cars are driven into the bays where the owner can wash and wax the car, utilizing high-pressure hot water and liquid wax. A dollar bill changer is available to provide change for the use of the equipment and the purchase of various products from dispensers. The products include towels, tire cleaner, and upholstery cleaner.

In recent years Harvey Industries has been in financial difficulty. The company has lost money for three of the last four years, with the last year?s loss being $17,174 on sales of $1,238,674. Inventory levels have been steadily increasing to their present levels of $124,324.

The company employs 23 people with the management team consisting of the following key employees: president, sales manager, manufacturing manager, controller, and purchasing manager. The abbreviated organization chart reflects the reporting relationship of the key employees and the three individuals who report directly to the manufacturing manager.

Current Inventory Control System

The current inventory control ?system? consists of orders for stock replenishment being made by the stockroom foreman, the purchasing manager, or the manufacturing manager whenever one of them notices that the inventory is low. An order for replenishment of inventory is also placed whenever someone (either a customer or an employee in the assembly area) wants an item and it is not in stock.

Some inventory is needed for the assembly of the high-pressure equipment for the car wash and industrial applications. There are current and accurate bills of material for these assemblies. The material needs to support the assembly schedule are generally known well in advance of the build schedule.

The majority of inventory transactions are for repair parts and for supplies used by the car washes, such as paper towels, detergent, and wax concentrate. Because of the constant and rugged use of the car wash equipment, there is a steady demand for the various repair parts.

The stockroom is well organized, with parts stored in locations according to each vendor. The number of vendors is relatively limited, with each vendor generally supplying many different parts. For example, the repair parts from Allen Bradley, a manufacturer of electrical motors, are stocked in the same location. These repair parts will be used to provide service for the many electrical motors that are part of the high-pressure pump and motor assembly used by all of the car washes.

Because of the heavy sales volume of repair parts, there are generally two employees working in the stockroom- a stockroom foreman who reports to the manufacturing manager and an assistant to the foreman. One of these two employees will handle customer orders. Many customers stop by and order the parts and supplies they need. Telephone orders are also received and are shipped by United Parcel Service the same day.

The assembly area has some inventory stored on the shop floor. This inventory consists of low-value items that are used every day, such as nuts, bolts, screws, and washers. These purchased items do not amount to very much dollar volume throughout the year. Unfortunately, oftentimes the assembly area is out of one of these basic items and this causes a significant amount of downtime for the assembly lines.

Paperwork is kept to a minimum. A sales slip listing the part numbers and quantities sold to a customer is generally made out for each sale. If the assembly department needs items that are not stocked on the assembly floor, someone from that department will enter the stockroom and withdraw the necessary material. There is no paperwork made out for the items needed on the assembly floor.

There were 973 different part numbers purchased for stock last year and those purchases amounted to $314,673. An analysis of inventory records shows that $220,684 was spent on just 179 of the part numbers.

Fortunately for Harvey Industries, most of the items they purchase are stocked by either the manufacturer or by a wholesaler. When it is discovered that the company is out of stock on an item, it generally takes only two or three days to replenish the stock.

Due to the company?s recent losses, its auditing firm became concerned about the company?s ability to continue in business. Recently the company sold off excess vacant land adjoining its manufacturing facility to generate cash to meet its financial obligations.

New President

Because of the recent death of the owner, the trust department of a Milwaukee Bank (as trustee for the estate) has taken over the company?s affairs and has appointed a new company president. The new president has identified many problem areas- one of which is improper inventory control. He has retained you as a consultant to make specific recommendations concerning a revised inventory control system. What are your recommendations and rationale?

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References

Brinlee, Doug. (2012). Common inventory management problems. Inventory Management. Web. Retrieved September 20, 2012 from http://www.askdeb.com/inventory-management/problems/

Connerly, Bill. (2003). Four steps to overcome supply chain problems. Blue MauMau. Web. Retrieved September 20, 2012 from Stevenson, W.J. (2011). Operations Management

SCDigest. (2010). The five challenges of today's global supply chains. Supply Chain News. Web. Retrieved September 20, 2012 from http://www.scdigest.com/ASSETS/ON_TARGET/10-08-12-3.php?cid=3649

Stevenson, W.J. (2011). Operations Management. 11th ed. New York: McGraw Hill. Iwrin.

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Title: INVENTORY MANAGEMENT A CASE STUDY IN AN IMPORTER INDUSTRY

  • Total Pages: 40
  • Words: 12443
  • References:40
  • Citation Style: MLA
  • Document Type: Research Paper
Essay Instructions: Literature Review, Data Analysis and Conclusion chapter are three chapters I want you to write
Literature Review and Data Analysis Chapter, should be 18 pages or 5,400 words each.
Conclusion chapter should be 4 pages or 1,200 words.

The objectives of this dissertation are
- To understand and evaluate the related theories and practice of inventory management in supply chain operation.
- To explore the current inventory management which including of ABC analysis, safety stock level, the EOQ and forecasting techniques for a selected company.
- To provide recommendations and suggestions in order to develop inventory management for a chosen company in a whosaler indstry.

In literature review chapter, it should contain information about inventory management, ABC analysis, Safety stock levels, The Economic order quality (EOQ) and forecasting methods.
- The EOQ should include information about Kcurve from Relph Geoff.

In Data analysis chapter should analyse the information gathered from selected company, which I will send you finding and results chapter that contain the information collected from interviews. There are only three person involve in inventory management of the company which are Managing Director, Deputy managing director and purchasing manager. Mostly the company uses their own experience and judgement to manage inventory and set safety stock level. It doesn't classify inventory into ABC classification and doesn't have proper forecasting, safety stock and EOQ methods.

Therefore, in data analysis chapter, it should compare the result with the literature review (for all inventory management, safety stock, ABC analysis, EOQ and forecasting method).
Analyse why the company does that way by comparing to literature? Is it the same as literature? What is the same and what is the different? Do you agree with those methods? Is it right or wrong method? If it wrong, why it is wrong? What company should do comparing with information in the literature review? Any benefits or drawbacks they do in that way? Why they don't imply appropriate methods? Is it because the company doesn't have enough manpower, capital or the company's inventories are high value? (You can make up any information if necessary)

For example, the company doesn't classified inventory into categories like ABC because the company believe it has a number of inventory and each inventory should give consider by individually. There are disadvantages to company by doing this because it is consume time, costly and use lot of manpower. On the other hand, it has some benefit to the company because it can consider item by item in more detail which provide company more accuracy result.

I'm going to have an oral exam about my dissertation after I've submitted it. Is it possible to send me the Journal you are references because I need to read it before exam.

Thank you so much.

There are faxes for this order.

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References

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Anil, Kumar S, and N. Suresh. Production and Operations Management. New Delhi: New

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Bragg, S.M. (2011). Inventory best practices. Hoboken, NJ, Wiley.

Cannella, S, & Ciancimino, E 2010, 'On the Bullwhip Avoidance Phase: supply chain collaboration and order smoothing', International Journal of Production Research, 48, 22, pp. 6739-6776, Business Source Complete, EBSCOhost, viewed 25 July 2012.

Cannella, S, & Ciancimino, E 2010, 'On the Bullwhip Avoidance Phase: supply chain collaboration and order smoothing', International Journal of Production Research,

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Cassar, G 2010, 'Are individuals entering self-employment overly optimistic? An empirical

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Chandra, Prasanna. Financial Management: Theory and Practice. New Delhi: Tata McGraw-

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Chin, H, Li, R, & Tsai, C 2012, 'Designing a Supply Chain System to Maximize

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