Inventory Management
The Inventory System at pple

The paper looks at the inventory system utilized by pple Inc. ccording to the 10-k pple account for the inventory using a first in first out (FIFO) system. The stock is fast moving and the efficiency which results in the company only having approximately five days worth of stock on hand at any point in time is facilitated through the use of a perpetual inventory system. This operates in real time. Inventory on hand is also minimized with finished products being shipped directly to customers from the outsource suppliers. There are alternate approaches pple could have adopted, such as the last in first out (LIFO) entry system. LIFO assumes that the last deliveries into a firm will be the first infantry to leave a firm. The firm could also adopt a periodic inventory system, where stock levels would only be updated periodically, assessing this is…...

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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,

Inventory System Upgrade
The project aims to develop a system whereby inventory maintenance would become easier, efficient and less time-consuming. This proposal includes a change in management practices, use of advanced technology and a system that would ensure minimum deterioration of facilities. Four school administrators will take part in the implementation of this plan. Out of them, the most experienced one is selected as project leader because only implementation and planning can be best handled by one specialist. "Whether an administrator or project management specialist, a single individual should provide the project leadership necessary to effectively manage the time, cost and quality of a project from inception to completion." (Gaydon, 2002)

Needs Assessment careful analysis and examination of school facilities reveal that inventory system needs to be completely revamped in order to avoid extra costs that are incurred every year on unexpected wear and tear of school facilities. It has been noticed…...

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Bibliography

Focuses on funding problems for school facilities and how they can be effectively removed: Facilities Management, American School & University, Dec 1, 2002

Discusses successful formulation and implementation of a plan. Tony Gaydon, Managing Success, American School & University, Aug 1, 2002

Myes-Biggs is a pesonality inventoy system that is based on Cal Jung's theoy of pesonality types. It has been well eseached and is a popula model. Pesonalities ae classified by diffeent categoies in which thee ae two poles by someone can be ated between a spectum that lies between them. Fo example, someone can be intoveted o extoveted o somewhee in between the two poles. This measue is based off of a self-epoted instument that is non-judgmental and is stictly to help people undestand diffeent pesonality types in themselves and othes.
Explain each of the fou pais of lettes.(I and E, S and N, T and F, J and Individuals ae classified as:

Extoveted o intoveted (E o I).

Sensing o intuitive (S o N).

Thinking o feeling (T o F).

Peceiving o judging (P o J).

Intoveted and extovesion deal with how likely a peson is to engage with othes. Sensing o intuitive deals with…...

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references of working when considering if an employee is good at their job. A more objective performance measure will be a better indicator than a whether or not the individual fits in with other personality types. Sometimes a level of friction is actually good in an organization and can drive employees towards high performances.

8. Identify one person with whom you tend to clash. Can you tell if their type is different from yours? What would you say is the strength of their type and how does it serve the organization?

In many cases I have conflicts with very detailed oriented people that have more trouble seeing the bigger picture. I can definitely tell their personality is different than mine because they focus on the steps or details while I typically frame things in the end goal or bigger picture. It is difficult for me to work with this type of person sometimes because when they focus too much on each step, then I can get frustrated and fatigued. However, at the same time, if I work with people who are more like me then we can lose focus of the details or the individual steps and move too fast. I think it makes sense to have the two different personality types work with each other as a type of balance. However, to work well together the two types of personality must learn to respect each other's differences.

Inventory Policy
Controlling inventory is a control of 45% to 90% of all expenses related to business is very important also to see that the business has the correct goods on hand so that it does not get into stock-outs, or shrinkage of inventory due to spoilage or theft, and helps in providing a correct accounting. When inventory is not maintained properly, then the major part of the assets of a retailer gets tied up into inventory, and probably these are the wrong types of inventory that do not sell easily. The reason for low sales may be due to the age of stock, worn out, being spoilt through storage in the shop, out of date for the users, wrong in sizes or colors, or may be stored in a wrong type of products that are not liked by customers. (Inventory Control) The importance of controlling capital is recognized even by…...

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References

'Berkshire Hathaway INC" Retrieved from   Accessed on 25 June, 2005http://www.berkshirehathaway.com/letters/1988.html 

Boyles, Bob. "GMROI and Turn & Earn" Retrieved from   Accessed on 25 June, 2005http://www.smarterdistribution.com/article35.htm 

"FIFO" Wikipedia, the free encyclopedia. Retrieved from   Accessed on 25 June, 2005http://en.wikipedia.org/wiki/FIFO 

"LIFO" Wikipedia, the free encyclopedia. Retrieved from   Accessed on 25 June, 2005http://en.wikipedia.org/wiki/LIFO 

Inventory
The organization I want to study is Wal-Mart, the world's largest retailer. Wal-Mart is a retailer that sells a wide range of goods, including food, and does so in many countries around the world. They are the biggest retailer in the world, and one of the biggest companies.

I chose Wal-Mart because its supply chain management is famous. They are a good case study for inventory management. The basic business model for Wal-Mart is cost leadership. This business model relies on selling high volumes of goods on slim margins, so there is considerable emphasis on the part of the company to have a highly efficient supply chain. Wal-Mart has nearly $45 billion in inventory, but turns it over 10.6 times per year, or once per month, roughly.

Wal-Mart is known to use a number of intriguing technologies to help with its inventory management. The company uses RFID to keep track of inventory…...

Inventory Process Improvement
his work is focused on "Inventory Process Improvement" and will be comprised of Part One, or the Executive Statement to this work, Part wo which will consist of process flow charts, procedures, or policy statements which articulate the business requirements in terms of specific process or business development needs, Part hree which will include software and hardware recommendations for the information technology solution and Part Four which will summarize the project proposal.

his project is centered on "Riordan Manufacturing." Manufacturer of global plastics, Riordan, employs approximately 550 individuals whose salaries total an estimated $46 million on an annual basis. Listed by Fortune 1000 as having $1 billion plus yearly revenues Riordan Industries completely owns the company. he product line is inclusive of containers for beverages made from plastics in Albany, Georgia while Pontiac Michigan produces plastic parts that are custom made and the Hangzhou,

China plant manufactures fan parts made…...

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The original processes within the company involved a lag between making the sale and ordering the materials which slows down the entire process within the company costing time and money. Further the lack of automation results in a large loss of time and revenues for the company each year. A system which uses automation in ordering, scheduling receiving, shipping, and building of parts within the company as well as has the ability to after a one-time entry to track real time information in relation to company inventory and cash on hand is a great asset to any company and will result in Riordan Industries saving of time, expenditures and will streamline the company which should show in a reduction in costs and a raise in revenues upon implementation of this inventory management system within all four locations of Riordan Industries.

Microsoft Net (2004) Driving Business Value from the Microsoft Platform) available at:  http://www.microsoft.com/NET/Basics.aspx 

Ibid.

Inventory apacity and Whether Insurance and osts of Storage Increase as Inventory Increases
At least $6,010.00, again this number may change depending on how many orders the company places per year.

Generally, $1,000 depending upon whether this number increases to meet a larger inventory capacity.

couldn't answer it…turned in early so the client would have enough time to answer it himself.

The earliest due date rule requires the job with the earliest due date to be selected. The job with the earliest due date is selected first. The user inputs the number of jobs along with their names, processing time and due dates of each job or the use the data values given at the starting point. Next one sorts out the earliest due date among the jobs. Then calculate each jobs flow time by using the processing time; the flow time is the accumulations of processing time for each job. The delays…...

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Chase, Richard B, Jacobs, Robert F. Operations and Supply Chain Management Textbook: Operations and Supply Chain Management; 13th edition

Krajewski, Lee, The value of production schedule integration in supply chains, Decision Sciences, Monday, October 1, 2001

Vokurka, R.J., & O'Leary-Kelly, S.W. (2000). A review of empirical research on manufacturing flexibility. Journal of Operations Management, 18(4), 485501.

As is shown in the case, CCBCC begins with an intensive commitment to the initial collaborative planning phases of ensuring front end alignment with their distribution channel partners. Joint business plans ensure the company has the ability to effectively plan for spikes in demand more effectively than traditional, and less flexible means allow for. The collaborative planning phase of the CPF Model is essential for ensuring a high degree of logistics coordination and collaboration has been achieved (Bonet, 2005). The collaborative forecasting process including sales forecasting, exception management and resolving expectations, all essential for making a strategic commitment to CPF function correctly, are also evidence in the CCBCC implementation (Ireland, 2005). Finally the steps of creating and fine-tuning order forecasts, defining identifying exceptions and resolving exceptions to drive orders are also evidence in how CCBCC creates demand management workflows with the applications installed. It is very important to realize…...

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References

Barratt, M., & Oliveira, a. (2001). Exploring the experiences of collaborative planning initiatives. International Journal of Physical Distribution & Logistics Management, 31(4), 266-289.

Bonet, D. (2005). A new approach for understanding hindrances to collaborative practices in the logistics channel.International Journal of Retail & Distribution Management, 33(8), 583-596.

Crampton-Thomas, P. (2006). Enabling profitable growth through demand driven supply networks. Supply Chain Europe, 15(2), 18-21. R

Ireland, R. (2005). Abc of collaborative planning forecasting and replenishment. The Journal of Business Forecasting,24(2), 3-4+.

Systems Implementation
System Implementations

Describe the company, the business problem the company was addressing with the system implementation, the system chosen to implement, and the company's rationale for selecting the system to solve the problem.

Wal-Mart, a company that enjoys a significant market share in the U.S. food industry, rolled out its multi-phased project. This marked the beginning of implementing the company's long ditched in-house IT systems, which favored their operations with vendors. However, implementation of the SAP system is already raising red flags. This is because the system comes with costly financial works, which have strained the company (Scheck, 2010). While the project was aimed at leading the firm to growth, Wal-Mart recorded a significant sales decline. This was one of the company's worst performance over three decades now, been beaten by new corporations from Germany and South Korea. As local competitors maintained the pace set by Wal-Mart, most customers became culturally…...

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References

Hellens, L, Nielsen, S., Beekhuyzen, J., & Ebrary, Inc. (2008). Qualitative case studies on implementation of enterprise wide systems. Hershey, PA: Idea Group Pub.

Jacobs, A.J. (2012). Information system implementations: Using a leadership quality matrix for success. S.l.: Authorhouse.

Ramachandran, S. (2007). Digital VLSI systems design: A design manual for implementation of projects on FPGAs and ASICs using Verilog. Dordrecht, Netherlands: Springer.

Scheck, D.E. (2010). Implementation project for traffic signal monitor/recorder and analysis system. Athens, Ohio: Dept. Of Industrial & Systems Engineering, Ohio University.

Systems Media Table: Comparison
System

Uses

Word processor

The main purpose of this program is to construct sentences of the perceived information and manipulate paragraphs to form a word document. The program uses a display format 'what-you-see-is-what-you-get' to enhance the quality of the expected hardcopy.

WordPerfect and Microsoft Word are mostly superseded by both organization and personal computers to perform functions such as word formatting, letter processing and some simple designing. Accordingly, it is the most frequently used program in day-to-day operation.

It is used to type the text, save, and format and print the text.

It is used to insert pictures into the text page.

It is used to spell check the text document.

It is used to prepare letters and other word documents.

Hierarchical database

This kind of database system is to display a structure that would relieve the presentation of information using parent to child relationship. The system is anticipated to store groups of parent/child relationships similar to…...

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References

AJ, W., & al, e. (2007). The role of decision aids in promoting evidence-based patient choice in Edwards A and Elwyn E (eds) Evidence-based patient choice:. O'Connor A and Edwards A.

European Commission DG Health and Consumer. (2012). Guidlines on the Qualification and Classification of Stand-alone Software used in Healthcare withing the Regulatory Framework of Medical Devices. Articles of Directive 93/42/EEC .

Eysenbach, G., Powell, J., Gunter, T.D., & Terry, N.P. (2005). The Emergence of National Electronic Health Record Architectures in the United States and Australia: Models, Costs, and Questions. Journal of Medical Internet Research: The Leading Peer-reviewed Internet Journal.

Fesenko, N. (2007). Compression Technologyes of Graphic Information. International Journal "Information Theories & Applications."

To the extent the totality of circumstances suggest that possibility, even acceptance of the most nominal gratuities (i.e. A cup of coffee) is ethically inappropriate.
Similarly, even where the gratuity involved is of nominal value and there is no potential misunderstanding on the part of the individual proffering an otherwise appropriate gratuity, there is the issue of creating the appearance or inference of an improper relationship from the perspective of others observing the exchange. For example, while the proffer and acceptance of a single cup of coffee is excusable within the framework of ordinary positive community relations, the conspicuous regular transfer of even nominal gratuities in the presence of third parties can create an apparent inference of inappropriate influence regardless of whether or not that inference is necessarily accurate.

Conclusion

The SOI is intended to ensure that police officers do not misuse their duly authorized latitude to take different degrees of enforcement…...

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References

Conlon E. (2004). Blue Blood. Riverhead, NY: Bantam.

Peak K. (2002). Policing America: Methods, Issues, Challenges. New Jersey: Prentice

Hall.

Schmalleger F. (2008). Criminal Justice Today: An Introductory Text for the 21st

System Operational Feasibility great deal of time and intellectual resources go into the conceptual design stage of a systems engineering process once a need is clearly defined by the end-user. However, this initial development step is a moot point if the product is not operationally feasible, which means, according to Benjamin Blanchard in his book Systems Engineering and Analysis, "that the system will perform as intended in an effective and efficient manner for as long as necessary."
In order for the systems engineer to determine operational feasibility, it is necessary to properly integrate the design-related specialties such as reliability, maintainability, human factors and supportability.

Reliability is one of the most important design elements, since it confirms or denies the long-term use of the product without major maintenance and repair. Unreliable systems do not meet the original project goals and lead to unnecessary expenditures of valuable resources. Simply stated, "reliability is the probability…...

Inventory Management System
An inventory management plan can cost thousands of dollars, depending on what vendor/software is used, but the same principles can also be applied in Excel for much less. Since the cost of lost merchandise is $1,000/yr, the Excel option seems to be one that will have a reasonable return on investment, though that depends entirely on how much time is taken to keep the inventory up-to-date. OI is important because many of the most effective inventory management systems are geared towards clients much bigger than a school concession and are thus going to cost a lot more than $1,000 per year (Burg, 2013). To truly get a return on investment might require something a little more low-tech, like stickers on inventory noting a use by date, and checks prior to menu planning to ensure that perishable goods are used swiftly.

Let's say for the sake of argument that the…...

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References

Accounting Tools (2015). Inventory audit procedures. Accounting Tools.com. Retrieved November 20, .2015 from http://www.accountingtools.com/inventory-audit-procedures

Burg, N. (2013) The 5 best inventory management apps. Forbes. Retrieved November 20, 2015 from  http://www.forbes.com/sites/ups/2013/06/10/the-5-best-inventory-management-apps/

Vendor Managed Inventory
Supply Chain And Operations Management:

Supply chain management is a major concerned of all large and small firms in today's highly unpredictable business environment. hile the buyers or distributors are worried about timely deliveries of products and efficiency of products, manufacturers are more concerned about how their customers judge demand and place orders. This is because unpredictable changes in demand can force the customers to place orders for products whose production level has not yet been increased. For this reason, supply chain management has become a major issue.

Supply chain management sounds like a complex series of integrated activities but it all boils down to one simple end i.e. customers must always have the items as and when required. Roger Blackwell, a professor of business studies at Ohio State University and acclaimed author of quite a few best-selling books on the subject of supply chain says, "Supply-chain management is all…...

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Works Cited

Jacqueline Emigh, Vendor Managed Inventory., Computerworld, 08-23-1999, pp 52

Manage my inventory OR ELSE!., Computerworld, 01-31-1994, pp 93

Jilovec, Nahid, VMI success depends on a proper strategy. (Vendor Managed Inventory)(EDI Update) (Technology Information) Vol. 10, Midrange Systems, 04-11-1997, pp 32(1).

Heather Harreld, with Jennifer Jones contributing, FEATURES: Supply-chain collaboration., InfoWorld, 12-24-2001.

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.
I would recommend that the company spend time ahead of the year, scrupulously planning the projects that they will undertake the coming year and resources needed for those projects. By planning in advance, they will be able to limit their cost and expense by selecting the cheapest items to procure. These items need not lose out on quality. The company will merely decide the suppliers best for them and the items that will best meet their needs whilst being simultaneously cheap. Indeed, "there were 973 different part numbers…...

1. Identify strategic fit: Companies should first identify their strategic goals and objectives, and then map them to the different quadrants of the operation strategy matrix. This will help them understand where they currently stand and where they need to improve.

2. Tailor operations: Based on the strategic fit analysis, companies can tailor their production processes to align with their strategic goals. For example, if a company's goal is to improve flexibility and responsiveness, they may need to focus on implementing just-in-time inventory systems or flexible manufacturing processes.

3. Continuous improvement: Companies should continuously monitor and evaluate their production processes to identify....

Content paragraph 1 A literature review is a critical component of research that involves reviewing and summarizing existing research and information on a particular topic. In the context of business performance, literature reviews play a crucial role in helping organizations understand current trends, challenges, and best practices in their industry. By examining a wide range of sources, including academic journals, books, and reports, literature reviews provide valuable insights into what has already been studied and what gaps exist in the knowledge base. This, in turn, helps businesses make informed decisions and develop strategies that can lead to improved performance and....