There are many software available in tracking the stocks movement and doing the logistics planning. The software not be feasible or cost-efficient to small-sized company, while it is absoultely suitable for medium-sized company. Logistics planning is an important part of Wal-Mart success.
A very good software we have used is SAP software, which is essentially a well-developed inventory management software to plan the logistics flow of the Company.
Sunday, September 28, 2008
Tuesday, September 23, 2008
#4 Inventory Management- Obsolete Stocks
Quantity of obsolete stocks could be controlled or managed via:
1) emphasizing quality checked on stocks received and returned the goods to suppliers by adhereing to quality policy of the Company
2) order minimal amount of stocks based on sales forecast, rather than purchasing a huge sum of stocks on hand.
We want to emphasize on point 1 that, company should have a clear inventory checking policy and forming a culture of adhering stocks' quality policy. Damanged stocks/ faded stocks have to be returned to suppliers immediately. Besides that, SME entrepreneur should communicate the policy to suppliers, in order to acknowlege the suppliers in respect of the quality policy of the Companies
1) emphasizing quality checked on stocks received and returned the goods to suppliers by adhereing to quality policy of the Company
2) order minimal amount of stocks based on sales forecast, rather than purchasing a huge sum of stocks on hand.
We want to emphasize on point 1 that, company should have a clear inventory checking policy and forming a culture of adhering stocks' quality policy. Damanged stocks/ faded stocks have to be returned to suppliers immediately. Besides that, SME entrepreneur should communicate the policy to suppliers, in order to acknowlege the suppliers in respect of the quality policy of the Companies
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