Inventory Control: Making Decisions for Efficient Management
This presentation by Don Terry, BA, explores the decision-making process, software usage, industry similarities, job transferability, pay ranges, and real-world applications in inventory control. It delves into topics such as space management, cost calculation, counting methods, loss management, software options, and decision-making criteria for selecting the right tools. Discover the importance of efficient inventory control strategies in various business sectors.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
INVENTORY CONTROL -COUNT ON IT- Presented by Don Terry, BA
CONTENTS Personal Introduction Course Introduction *Space *Counting *Cost calculation *transportation
QUESTIONS What goes into the decision-making process for inventory? How much are computers/programs used in inventory? Are there certain software programs they should learn? How similar are different industries with inventory processes?
QUESTIONS Are jobs easily transferable? What are typical starting pay ranges and what backgrounds are needed to get in these positions?
APPLICATION Real-world positions that use this in everyday business The importance of this work.
DECISION-MAKING PROCESS Space Cost Calculation Contract Negotiations
COUNTING Coming In Regular Inventory Going Out
LOSS MANAGEMENT Peer Pressure Temptation Others Accounting
SOFTWARE MS Office Suite, Especially Excel. Any database software Syspro, Oracle NetSuite, Acumatica (4.5 stars) Others: AccountMate, 4 stars, Cougar Mountain (4 stars) Open Systems Travers (4 stars), Quickbooks (3.5 stars). Excel, Access Database, In- House Software
SOFTWARE COST Free-ish Very Small Company: best seller Inventory Management Professional Software for Windows. $44.00 Blue Link consulting estimates the cost $2-3k per user for license fees and then the same amount again for implementation services.
DECISION-MAKING PROCESS What exactly do you need? Why do you need it? (Function) How much do you have to spend? When and how will you spend time learning and implementing the new software?
POSSIBLE JOBS * Store clerk, Inventory clerk, inventory specialist, inventory manager, warehouse associate * Warehouse manager, inventory analyst, procurement association. Commodity specialist.
STARTING PAY Average base pay $34,428. Inventory Specialists average $14/hr, Warehouse associate $15/hr.. Cashier $18k, Customer Service Rep $25k, Warehouse manager $56k, Inventory Analyst $58k. Inventory managers average 57k/yr.
SOME REQUIREMENTS High School Diploma/GED Proficiency with Microsoft Office (Word, Excel, Outlook) and intranet/internet Self-starter with a willing attitude-Can do. Honest Able to keep up in a fast-paced environment Problem Solver
OTHER REQUIREMENTS Able to balance multiple projects and meet deadlines Able to pass a background check and a drug screen Must provide valid proof of USA residency Exhibits exceptional customer service at all times Exhibit sound judgment and ethical behavior at all times
IMPORTANCE OF THE WORK Dependability and Deliverability Necessity of tenaciousness Proper Accounting
PROFESSIONAL DEVELOPMENT Certifications: CSCP Certified Supply Chain professional-best one for most-requires 3 yrs experience, or a bachelor s degree. Costs $915,
MORE DEVELOPMENT CPSM (Certified Professional in Supply Management -requires 3 exams, 3 years of experience and a bachelor s degree, or 5-years experience. Each exam costs $329 for a total of $987.00. CPP-Certified Procurement Professional- For those already working in procurement $700 and requires some schooling.
WHY? Certified professionals can earn about $20k more a year.
PROFESSIONAL ORGANIZATIONS The Next Level Purchasing Association Association for Supply Chain Management. LinkedIn Profile
TERMINOLOGY Suppliers or Vendors EDI (Electronic Data Interchange The term EDI encompasses the entire electronic data interchange process, including the transmission, message flow, document format, and software used to interpret the documents.
MORE TERMS MRP (Material Requirement Planning): The basic functions of an MRP system include: inventory control, bill of material processing, and elementary scheduling. Supply Chain Management:
BEST-SELLERS Essentials of Inventory Management by Max Muller $17.87 Inventory Control and Management by Donald Waters $59.50 Achieving Effective Inventory Management, 6thEd by Jon Schreifeder, Tina Snawder, et. al. $69.00
BUSINESS INVENTORY Look in the slide notes below for topics to consider talking about
ACCOUNTING FOR INVENTORY Look in the slide notes below for topics to consider talking about
WORKS CITED
