Inventory management

Do they ever face the problem of receiving orders for an item that their vendor is not able to fulfill because it is out-of-stock (over-ordering or running out of stock)? I. If no, can this be a problem they might have in the future? 1. If no, why not? N. If yes, how does the vendor handle it? 1. Cancels Order a. Does canceling order affect your relationship with the customer? B. Does canceling order affect the customer reputation for the vendor? C. Are there any other issues associated with canceling an order? 2. Purchases from another vendor to fulfill order a.Does it affect their profit margin? B. Are there any other Issues associated with purchasing from another vendor? . Vendor will manufacture additional products to fulfill order a. Does this affect the delivery time? I. If yes 1 . Is changing delivery time okay with you? 2. Is changing delivery time okay with the customer? B. Are there any other Issues associated with manufacturing product after an online order has been receiv ed? 4. Is there another way to handle this Issue apart from canceling and order / Purchasing from another vendor / manufacturing additional products? Iii.Would it help your vendors to have a tool that allows them to manage inventory across multiple online marketplaces? 1 . If yes a. Would your vendors be willing to pay for such a tool? B. Does your marketplace allow for a software to connect to your online marketplace using a Website API to allow l. Product uploads Inventory updates iii. Orders v. Viewing competitors asking prices c. Would you be willing to help us market such a tool? 2. If no, why not? V. Do you encourage your vendors to view their competitors pricing and price their products accordingly? 1 . If yes, would It help your vendors to have a tool that allows Inventory Management Purpose of research A study of inventory management is undertaken in order to know the inventory performance and position of selected companies and to know the strength and weakness and to assess the profitability of the companies. Inventories constitute most significant part of assets of large majority of the companies in India. Inventory a double edged sword is usually an asset of an organization, if not used properly it will become liability. It is therefore absolutely very important to manage inventories efficiently and effectively in order to overcome unnecessary investment.Excessive stock, or excess inventory, is the result of bad management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capital bound with the purchase or simply storage space taken. Shortage of stocks leads to loss of business, hence inventory management plays a key role. Literature review: †¢Article on inventory manage ment by weilege †¢Case study on coco-cola bottling inventory management by S. L Adyemi †¢Article on inventory management by James H Aim: â€Å"To identify the problems/challenges involved in the Inventory Management process†Objectives: 1. To study the inventory control measures and methods of valuation of inventory of selected companies in India of manufacturing industry 2. To identify problems related to inventory management specific to manufacturing industry of selected companies 3. To make a comparative study of inventory management of selected companies under manufacturing industries and to offer suggestions for effective inventory management Hypothesis: Research hypothesis: â€Å"Optimum inventory management leads to profitability of companies† Research methodology: a)Primary data:The primary data will be collected by personal interviews with officials. b) Secondary data Files, annual reports, periodicals, manuals and text book. Which have already been p assed through the statistical process are the secondary data used. Scope of the study: †¢ This study is to find the facts and opinions of inventory management and control of selected companies under manufacturing industries. †¢ In accordance with the present trends it aims mainly at finding out the inventory control procedures. Limitation of the study †¢ The study is related to only specific or selected companies in India of manufacturing industries.Proposed content of the dissertation: 1. Chapter 1: introduction 2. Chapter 2: literature review 3. Chapter 3: data collection and research methodology 4. Chapter 4: analysis and data interpretations 5. Chapter 5: findings and recommendations 6. Chapter 6: Conclusion 7. Bibliography 8. Annexure Work plan: First two weeks : literature review next two weeks: data collection for the project next four weeks: analysis and interpretation of data next two weeks: Findings and suggestions or recommendations next two weeks: compilin g of project report last few weeks : correction of report and final report preparation. Inventory Management Purpose of research A study of inventory management is undertaken in order to know the inventory performance and position of selected companies and to know the strength and weakness and to assess the profitability of the companies. Inventories constitute most significant part of assets of large majority of the companies in India. Inventory a double edged sword is usually an asset of an organization, if not used properly it will become liability. It is therefore absolutely very important to manage inventories efficiently and effectively in order to overcome unnecessary investment.Excessive stock, or excess inventory, is the result of bad management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capital bound with the purchase or simply storage space taken. Shortage of stocks leads to loss of business, hence inventory management plays a key role. Literature review: †¢Article on inventory manage ment by weilege †¢Case study on coco-cola bottling inventory management by S. L Adyemi †¢Article on inventory management by James H Aim: â€Å"To identify the problems/challenges involved in the Inventory Management process†Objectives: 1. To study the inventory control measures and methods of valuation of inventory of selected companies in India of manufacturing industry 2. To identify problems related to inventory management specific to manufacturing industry of selected companies 3. To make a comparative study of inventory management of selected companies under manufacturing industries and to offer suggestions for effective inventory management Hypothesis: Research hypothesis: â€Å"Optimum inventory management leads to profitability of companies† Research methodology: a)Primary data:The primary data will be collected by personal interviews with officials. b) Secondary data Files, annual reports, periodicals, manuals and text book. Which have already been p assed through the statistical process are the secondary data used. Scope of the study: †¢ This study is to find the facts and opinions of inventory management and control of selected companies under manufacturing industries. †¢ In accordance with the present trends it aims mainly at finding out the inventory control procedures. Limitation of the study †¢ The study is related to only specific or selected companies in India of manufacturing industries.Proposed content of the dissertation: 1. Chapter 1: introduction 2. Chapter 2: literature review 3. Chapter 3: data collection and research methodology 4. Chapter 4: analysis and data interpretations 5. Chapter 5: findings and recommendations 6. Chapter 6: Conclusion 7. Bibliography 8. Annexure Work plan: First two weeks : literature review next two weeks: data collection for the project next four weeks: analysis and interpretation of data next two weeks: Findings and suggestions or recommendations next two weeks: compilin g of project report last few weeks : correction of report and final report preparation.