I need a report on inventory management of any garment industry
From Bangladesh ,
Inventory management is critical to the bottom line because inventory is a major asset that remains an investment until the products sell. Several costs are tied to inventory management because businesses must store, track, and insure inventory. Overall, best practices in inventory management involve sound purchasing plans to guarantee items are available when they are needed without having too few or too many on hand and the necessary tools for tracking existing inventory.
Methods of Inventory Management
There are two common inventory management strategies: the just in time method and the materials requirement planning method.
Just In Time Method
The (JIT) of inventory management involves companies planning to receive items as they are needed instead of maintaining high levels of inventory. One benefit of this inventory management method is that companies do not have a great deal of money tied up in inventory levels; they reduce storage and insurance costs and the cost of liquidating unused inventory. Another benefit of the just in time method is that companies reduce waste.
Challenges of the just in time method of inventory management come into play when manufacturers and retailers have to work together to monitor the availability of manufacturing resources and consumer demand. Just in time inventory management also is considered risky because companies take a gamble with being unable to fill orders; being out of stock reduces revenue and may harm customer relations.
Companies that continue to rely on manual inventory tracking with spreadsheets run the risk of data entry errors, shipping mistakes, and lack of inventory knowledge. Thus, implementing inventory management practices is important for business success and the bottom line:
1. Determine whether a continuous review system or periodic review system is the best type of inventory management system for your business
2. Implement a cycle counting program after considering counting frequency, counting strategy, and cycle count management
3. Manage your inventory by knowing the inventory levels that are most beneficial to the flow of your business; track data to make better inventory management decisions
4. Implement quality control procedures so that all employees can work toward the same goals
5. Optimize inventory levels to boost efficiency and meet customer demands
6. Prepare for growth and implement inventory management best practices that will support your business goals
Inventory management is critical to a company’s success and bottom line. Determining which inventory management method is better suited to your business and following through with inventory management best practices is key to successful inventory management for the long term.

From India,

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