Methods of Increasing Productivity Utilizing Inventory Control Systems- The scope of this research paper is to discuss inventory control systems.

Methods of Increasing productiveness Utilizing Inventory Control Systems

Master of Science in Operations Management

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I. Introduction

The scope of this research paper is to discuss armoury control systems as they relate to the overall production for a familiarity. I will first discuss production factors for companies and cost associated with high inventories. Then, switch the focus to describe, discuss, and analyse Just-in-time (JIT) Production and cloth Requirements Planning (MRP) processes as methods to reduce and therefore minimize inventories for businesses.

Productivity advise be fixd as a common placard of how well a country, industry, or business unit is utilise its resources. See the equation below for the mathematical relationships used to define productivity.

Productivity (P) = Outputs or Goods and Services produced

Inputs All Resources Used

Expanding on results in: Productivity = Output t

Labor + Capital + Materials

These equations allow productivity to be defined in terms of relative measure. This allows a business to compare current productivity levels against previous productivity levels, or against their competitions productivity. The company defines what total or partial factors will be considered as output and input in these equations and then uses these values to auspicate an initial productivity value.



The value by itself is not of import but it allows the company to make changes in the business flummox or operations and see how it affects the productivity of that company.

Now, lets look at cost associated with inventory. There are four major costs associated with inventory: belongings costs, Setup costs, Ordering costs, Shortage costs. Holding or carrying costs refer to the costs for storage facilities, discourse (i.e. moving), insurance, pilferage, breakage, obsolescence, taxes, depreciation and the loss of opportunity costs of capital. These costs so-and-so be very significant to the company. Any amount of...

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