Inventory Management Solutions Essay
The purpose of this memorandum is to report the progress in my research of possible inventory management systems to implement into a manufacturing facility - Inventory Management Solutions Essay introduction. As I proposed, I have been gathering information by reviewing technical literature on inventory management solutions and software used in similar manufacturing facilities. My objectives were to define which supply and planning software provides the greatest reduction in production time, how similar facilities use and implement these systems, and what would be the advantages and disadvantages to implementing a new system.
Work Completed I have found that most manufacturing facilities use some inventory management software to control inventory levels and manage parts stocking. Currently the facility uses an outdated software called officebook. The current system in place is used primarilly as an open excel spreadsheet by floorworkers and ordering employees. Other manufacturing facilites use new versions of officebooks and similar softwares that track inventory quantities as facilities produce products daily.
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These programs account for inventory used and allow for operators to define reorderpoints. When properly used orders are sent automatically by the software to distributers. Other software options include advance pro inventory software, fishbowl management software, and ordoro solutions. I have researched how fords facility in kansas city manages their inventory and how the systems they use are interconected to their ordering and planning process.
Althought this operation is exponetially greater than the production site in ottawa it shows the potential if a system were implemented. This system accounted for each part used in the production of a vehicle. As the part was picked from the shelfs of inventory, it was erased in the virtual bins in the software. The system in place at this facility had a 85% accuraccy for the actual count of part in stock to meet the virtual amount.
The main advantage of using a automated management system, is actually knowing what parts and of how many parts you have in stock. When you know this you have the ability to say there will be no unexpected stops in the assembly line due to shortage of parts. This inturn alllows for production scheduals to be met allowing acurate forcasting for the production department. Work Remaining I still need to find out more about the specific costs of implementing softwares to manage and control inventory levels.