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The inventory management system

Essay On Homework Helpful Or Harmful - Papers and essays at most attractive prices. professional scholars, quality services, timely delivery and other benefits can be When a business shares materials and goods they sell, they are procedures that are put in spot to handle how products are received, stored and delivered, with this process been referred to as "inventory management".

best custom college papers online help to write an essay expository research paper sample proposal research Inventory is usually a physical resource that a business holds within their stock with the purpose of retailing it or transforming it into a more valuable condition. The inventory could range between recycleables, finished goods, gets results in process or repair, repair and operation (MRO). The main concept of inventory control is concentrating on the process of actions and accountability of inventory. This concept strictly bases on the basic principle of physical and routine counting, physical and systematic motion of materials and, great accounting practices.

Homework Help For Financial Management - get a 100% original, plagiarism-free essay you could only dream about in our academic writing service Best HQ writing In business supervision, inventory contains a list of goods and supplies held available in stock. Inventory management is the procedure for specifying the placement and size of the stocked items within a business whereby the inventory is to be managed at different spots or levels within a service or within multiple distinct locations of a source network to safe safeguard development against overstocking or jogging out of merchandise.

The easiest way to buy buy a persuasive essay Essay (Any type) $ 10,00 Order Research paper $ 7,50 Order Features of Cheap Essays for Sale Inventory management could simply because be thought as managing inventory with the principal objective been deciding and controlling stock levels within the service to balance the necessity for item availability against the necessity for minimizing stock holding and handling costs.

2.3 Management System

A management system can be an information system that can be used by a business to ensure they are able to manage and fulfill their duties through a framework of methods and processes. Typical control systems are being used to maintain data in a organization along with ensuring info is shared effectively, or for the administration of products offered. A management system could also be thought as the integration of traditional management methods with a computer program to create a tool for strategic and automated facts management.

2.4 Inventory Supervision System

An inventory management system is usually employed to automate a revenue order fulfilment process. These kinds of system are designed containing a framework whereby it includes lists of orders to get fulfilled after that prompts the sales personnel to select the desired items and tag them packaging and shipping information. Modern inventory administration system serve the purpose of keeping tracks of inventory items whereby the system relies on barcodes or RFID tags to uniquely discover the object. When recording a purchase, the system immediately identifies the inventory object by scanning the barcode or RFID tag, and then additional transaction info is gathered from the operator via job terminal which could be considered a workstation or mobile laptop.

The features of a listing management system such as for example physical inventory counting and cycle counting can enhance an organization. With the availability of various varieties of inventory systems, in today’s environment the size of a business is not a concern because there are many kinds of systems to suit any business.

Figure 1: Basic Structure of a listing Management System

2.5 Management System Classification

2.5.1 Network Inventory Management System

Real time inventory operations system: use wireless, mobile terminals to track record inventory transactions, the moment the purchase is processed. Transaction details is transmitted via wireless LAN to a central database.

2.5.2 Stand Alone Inventory Management System

Stand alone inventory systems are usually utilized by small size or medium sized businesses. These kind of systems work offline and so are not connected to other systems. Stand alone systems are often used to store Client data and inventory, generally all stored on one local database. For example for smaller businesses like convenience shops and shoe stores, it could be a pricey business option to acquire and use a pricey electronic inventory management program hence a standalone program may be the nearest option to the manual system because it automates the essential functions of inventory supervision. It could not make sense how to write a tok essay: tips a tiny business positioned in one area implementing a web based or network founded inventory system if they only sales inventory locally. These sorts of systems are not well suited for large sized business in production or production with a report in 1996 by the International Mass Retail Association (IMRA), for instance, concluding that standalone management system plans acquired to perform individual functions will soon become obsolete because they do not integrate well with various other systems.

2.5.3 Web Based Inventory Management System

Web based devices are web applications that can be accessed from any pc with a web browser but without any physical software installed on the neighborhood computer. In inventory supervision systems, a web based application can be a smart move for businesses since it offers the benefits of secure storage, sharing documents and accessibility which will make managing your data with various other hosted applications a good strategy. A web software is an application sent to users from a web server over a network like the internet or an intranet. A reason for the level of popularity of web based applications is due to the functionality of the web browser as a customer, sometimes known as a "thin client".

When choosing inventory control applications, the power of a web based application to update and maintain internet applications without distributing and installing software on potentially a several number of customers is another reason these sorts of system are becoming much favored by users. An integral strategy that’s been capitalized on by application companies is to provide web access to applications that are been distributed as regional applications whereby these applications allow the end user to pay a regular monthly or yearly fee for use of the application without having to install it on a local hard drive. Software businesses that are following this strategy are called an application provider (ASP), and ASPs are receiving much attention in the software industry.

The main concepts behind web based software is to centralize data hence by using databases to store data like consumer info, salespeople can revise a client’s address and the revise will instantaneously be available to all users throughout the organization. Way too many small and medium-sized businesses suffer from de-centralized info because they implement stand alone applications which are not a logical way of centralizing information.

2.6 Current Founded Inventory Management System

2.6.1 Silver Inventory System

Silver Inventory System is very popular software throughout the world, particularly with small to medium sized businesses needing a mid-range, economical standalone inventory computer software with a good selection of features. Silver Inventory System is a complete inexpensive system for operations of sales, purchases and payments. This system will assist you to in creation invoices, sale orders, purchase orders, receiving lists, payment receipts, product labels with bar codes and any varieties of the information for monitoring your organization. Inventory System allows the control of consumer balances and vendor balances.

Figure 2: Screenshot of Silver Inventory Management System

2.6.2 Golden Inventory System

Golden Inventory program is included with QuickBooks and can track Purchases, Sales, Do the job Orders and payments. This is a complete inventory supervision system that performs the capabilities of Purchases, Revenue and payments. The system guides you through the creation of suppliers list, purchase orders, goods list, receiving lists, sales orders, invoices, revenue and payment receipts. Furthermore to merchandise labels with barcodes, do the job orders for creation inventory assemblies, transfer orders between locations, customers and vendors’ balances and various types of reviews for monitoring your organization, it also facilitates XML synchronization with distant locations. Golden Inventory program works together with MS SQL Server 2000, MSDE and desktop data source files. Golden Inventory program works as a single application or as a client server program and as a distribution data source system. You will be able to work with remote outlets and warehouses also without a reliable interconnection between them. The system uses unique info exchange technology in XML format that allows quickly digesting orders and synchronizing data with your branches.

Figure 3: Screenshot of Golden Inventory System

Features

Golden Inventory

Silver Inventory

User interface

Easy to comprehend interface that can be utilised without need for training.

Application offers a simple to use interface, that may be used to perform tasks with no need of training

Warehouse support

Application can be integrated to aid multiple warehouses for one company

Support for warehouse is merely limited by one warehouse for one company

Point of Sale

System includes a point of sales panel where a sales transaction can be performed in real time

Does not provide features for Point of Sales

Security

Users access functions can be limited according to access level or role

Secure protection prevents unauthorized gain access to from outsiders.

Integration

Supports a multi user environment

Supports a multi consumer environment

Inbound logistics

Systems allow buying for www.testmyprep.com manufacturing operations. In addition, it supports payments for ordered products and purchase orders at the same time reserving inventory for revenue orders

This system allows conducting obligations for obtained items and for ordered goods in the pay for orders. It helps the partial repayments and payment under different orders or receiving lists. The payments arriving from sold products are similarly ensured.

Other features

Inventory reservations for Sale orders

Work orders for manufacture operations

Screen customization support

Export reports in Excel files

Compare and Comparison of Golden Inventory program and Silver Inventory System

When comparing the inventory systems there specific features that characteristic in both devices and there some features that happen to be absent in the various other system. Among the key differences between your two systems is usually that Golden Inventory program supports multiple warehouses for a business meaning the system could be included between all warehouses as one system whereas the drawback to Silver inventory is certainly that it can only be integrated to one warehouse. A similarity between your two is definitely that both can assist multiple companies.

In terms of size and functionality, Golden Inventory system is much superior to Silver Inventory system. Both systems offer the basic concepts of inventory management devices that is, invoicing, product sales orders which is certainly fulfilled by business, purchasing which will be the inbound inventory, barcode scanning whereby the inventory object is automatically identified before it is processed. Depending on the size of the business, Golden Inventory program is best suited for a big size business that could be in neuro-scientific manufacturing, stock supply or production and Silver Inventory is best suited for small to mid-sized business because of the limited functionalities.

Some of the main element features that produce Golden Inventory more advanced than Silver Inventory system happen to be that Golden Inventory program can offer a spot of Sale Alternative whereby a transaction could be prepared at a terminal and the inventory status is updated in real time. Golden inventory program can support information from Microsoft Excel this means it really is integrated with other systems that may be run by a business. The Golden Inventory Program has a feature to manage job orders for manufactures and the display and work permissions by consumer meaning the added reliability whereby the gain access to granted to each user could be defined exactly depending on their level of authority minimizing unauthorized usage of functions and data certainly not linked to that user.

REFERRENCES

http://www.executivpro.com/#silver

Silver Inventory System Program Informer: Screenshots

http://www.softsea.com/review/Golden-Inventory-System.html

http://www.softsea.com/review/Hunter-Perrin%27s-Inventory-Manager-and-Storefront.html

http://www.sharewareconnection.com/golden-inventory-system.htm

http://www.patentstorm.us/patents/6647380/claims.html

http://www.daniweb.com/forums/thread50946.html#

http://findarticles.com/p/articles/mi_m4153/is_6_57/ai_69759746/

http://www.ehow.com/how_4421818_set-up-inventory-control-system.html

http://www.barcodesinc.com/articles/inventory-control-system.htm

http://www.retailsystems.com/retail-inventory-management-system.cfm

http://www.womensenterprise.ca/resources/downloads/inventory-wholesale-retail.pdf

http://www.seminarinformation.com/qqbpml/conference-for-warehousing-and-inventory-control

http://en.wikipedia.org/wiki/Warehouse_management_system

http://www.thefreedictionary.com/inventory+control

http://www.management-hub.com/benefits-of-using-an-inventory-management-system.html

http://www.management-hub.com/is-it-wise-to-go-for-web-based-inventory-management-solution.html

http://www.management-hub.com/use-of-network-inventory-management-software.html

http://en.wikipedia.org/wiki/Network_management_software

http://www.ricelake.com/docs/prodinfo/white-papers/wp_IMS.pdf

http://www.emco.is/products/network-inventory/advantages.php

http://www.askdeb.com/inventory-management/hosted/

Case Study A WORLDWIDE Investment Marketing Essay

Case Study A Global Investment Marketing Essay

A global expenditure is a difficult mission that requires the assessment of different aspects of potential opportunities in various countries. Moreover, needs significant examination and research of success and failing probability. The objective of this paper is to study the technique of Etisalat, the United Arab Emirates (UAE) telecommunication firm in the Saudi Arabia industry as Mobily. Moreover, explanation, cause and aftereffect of that technique will be mentioned at understand Saudi’s economy also to identify the full total investment in the mobile phone sector. In addition, an effort to examine the efficiency of Mobliy and the obstacles it faced was made. A specially, the difficulty it confronted when it started the business in the Saudi marketplace while trying to capture a part of mobile phone market share, managing its business and communicating with its mother enterprise in the UAE. To overcome these obstacles, Mobily made new providers for personal and firms to add value for its subscribers to achieve its strategy concentrate on. To explain its success in Saudi’s market, some business info will be discussed analyzing its strategy.

Table of Contents:

2- Etisalat’s globalstrategy

3-Claim GOODBYE TO THE MONOPOLY

4-Mobily Ownership Structure

5-Mobily Objectives

6-STRATEGY

7-HAJJ EFFECT ON PROFITABILITY

8-INFRASTRUCTURE

9-Effect of macro-environmental and micro-environmental on Mobily’s advertising mix

2- Etisalat’s globalstrategy

Etisalat is the most significant Arab telecommunications firm in the centre East, with 63 million customers and has introduced the most advanced services to the area.( http://www.etisalat.ae)

Etisalat’s strategy is anchored in expanding in international markets and to be able to be one of many top-10 telecom’s service suppliers in the world. To execute this strategy, Etisalat attempts basically to generate the retail of cellular devices around some says in Africa, Asia and the center East as Saudi Arabia and Egypt because these countries possess shown a rise in GDP, great increase in populace and unemployment and Etisalat try to present telecom companies and alternatives which add worth to consumers and surface area formula for a triangular prism facilitates perfect deal with technology.

3-Express GOODBYE TO THE MONOPOLY

In 2004, the only mobile operator was Saudi Telecom Enterprise (STC). Concurrently, the mobile penetration charge just simply was 40%,and there have been only 9.2 million customers. When Mobily entered Saudi market in 2005, broke the monopoly. The liberalization of the Saudi Arabian telecommunication sector triggered the penetration rate to go up to 109% in 2007, to assure of 50% for clients growth.

Mobily paid out 3.46 billion USD to really have the second mobile permit in KSA in 2005. Mobily was good in covering the majority of Saudi Arabia’s terrain with the GSM insurance policy coverage 97% of populated areas. It was also the first portable Saudi operator to initiate value-added services such as location-based services (Pounds) and MMS.

5-Mobily Objectives

To be the very best work place in the KSA by looking after their employees.

To be NUMBER 1 at enjoyment their clients.

To sustain leadership in data applications and services

6-STRATEGY

Mobily is prosperous attainment its long term vision: to change from a pure cell operator to a multi-practical telecom operator in KSA. Mobily was granted approval by CITC (Connection and Information Technology Commission) to attained 96% of Zajil International Telecom and 99.9% of Bayanat Al Oula which has a WIMAX license, two data service suppliers in KSA in 2008. Mobily is handling the price of existing businesses when its buy of a 66.6% stake from the Saudi National Fiber Network (SNFN) which substitutes the use of STC’s overseas gateway network. The incomes of the SAR2 billion capital increases are used for financing or upgrading. (http://www.mobily.com.sa)

Mobily has built a strong connection with Etisalat of UAE for procurement of source. This connection could possibly be significant for presenting among the finest plan networks on the planet. The revenue of Mobily Company Q2 2010 recorded as 3,972 million showing an increase of 24% over the same quarter this past year. Mobily’s chairman, ENG. Abdulaziz Alsaghyir talk about that the increase of our Q2 earnings is due to the growth in broadband revenues and creating a center of attention extra post-paid consumer, furthermore, Mobily has approved its strategy for five year period know as GED planning expansion, differentiation to supply combined telecom companies constructed about fixed and cellular broadband technologies.

7-HAJJ INFLUENCE ON PROFITABILITY

It is anticipated that around 3 million person check out Saudi Arabia through the Hajj pilgrimage season, which is usually reflected in Mobily’s fourth quarter income. Mobily attained highest quarterly earnings through the fourth quarter.

Mobily Quarterly Earnings

8-INFRASTRUCTURE

Mobily has finished building its own capacity infrastructure to aid itself. Alternatively, when Zain started out their business, has rented transmission ability from both Mobily and STC. This produced yet another flow of cash flow for Mobily and STC depending on Zain’s use capacity. (http://www.gulfbase.com)

9-Effect of macro-environmental and micro-environmental on Mobily’s marketing mix

There are multiple reasons to the macro-environment that may influence the options of the managers of any establishment. New laws, tax adjustments, trade barriers, demographic switch and government policy changes are all instances of macro change. To greatly help analyse these reasons or elements managers can categorise them applying the PESTEL unit. (http://www.oup.com)

Kotler (1998) promises that PEST research is a helpful strategic device for distinguishing market growth or reduction, business location, potential and way for operations.

In examining the macro-environment, it is vital to understand the factors that may in turn affect numerous critical variables that are likely to affect the business’s demand and supply levels (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993).

9.1 Why Saudi Arabia

There are few says to propose secure literary devices in the odyssey materials of inexpensive energy, a geographical starting place to an enormous market and a clients’ requirement to attain the right solution for new experience enterprise or investment. The research has indicated that Saudi Arabia is definitely among the best 20 destinations for abroad direct investment in the globe. Moreover, Saudi Arabia known as the most enterprising nations in the centre East, Saudi’s huge normal strength integration with the long-term impression and strategic planning to make today’s steady, robust economy.

Saudi Arabia is hoping and arranging for numerous regions of future which is even more thorough, expansive, sustainable and put together on both cultural and economic sector. These examples will be increased via Saudi’s experience financing, assessing to determine a nation of regular development. A massive amount of money has been spent by

kingdom of Saudi Arabia to include value proposition to global organization. The government of Saudi has planned goals of varies faceted reform technique that lead Saudi Arabia to be one of the suitable situation in the global to operate business. (http://www.sagia.gov.sa)

At once, Saudi Arabia is normally spending tens of vast amounts of dollars to start out four economic towns in diverse place of the nation to aid economic improvement.

9.3The distributor environment

Mobily attempts quite often to rely upon several suppliers. Mobliy and its suppliers, both parties rely upon the other because of their successful commercial. Even though, both parties are seeking security and stableness from their relationship, nonetheless they are some factors to the dealer environment are at the mercy of change, such as for example some disputes on a sudden raise in material or maintenance agreements rates which controls by suppliers to improve their prices and this will effect very seriously on the company’ professional operations.

9.4 The distributive environment

Mobily’s management is positioned on marketing intermediaries as brokers and distributors to ensure that their products arrive at the ultimate consumer. To Mobily’s operations, it may appear that the conservative approach to distribution in telecommunication is usually relatively static. For the reason that improvements in the distributive environment happen quietly, and there is a threat of marketing companies failing to aware of the commercial change.

9.5 The competitive environment.

The company should be aware about the potential risk of other players marketing similar and substitute companies whether they are of domestic or foreign origin. . In the telecommunication sector in KSA have got simply just three players a potential competitive threat. Whatever the sort, size and composition of the telecommunication sector, Mobily’s marketing management has a full knowledge of competitive forces. Nevertheless, Mobily Known with this expertise, that may have a greater chance to compete effectively.

http://www.da-group.co.uk/index.php?option=com_content&view=article&id=31:micro-and-macro-environments&catid=2:marketing-lectures&Itemid=3

The marketing mix

Price

Mobily used some approaches to price something as the purchase price charged for services and products is defined unnaturally down in thought of gain market share. Once this is attained, the purchase price is increased. In addition, charge an acceptable price when has a strong competitive advantage. On the same time, Mobily attentive about competitors. However, almost all of their prices it really is fair and satisfied for most of the customers.

Place

Channel Distribution

Mobily’s distribution technique is driven by three main channels which:

Direct sales: The direct sales channel includes Mobily’s 24 flagship stores and 155 fully branded retailers. The flagship stores are completely owned and employed totally with Mobily personnel, while the fully branded outlets deal with as franchises.

Indirect sales: The Organization depend deeply on its distribution companions to attain wide range distribution at a rapid pace. Mobily has a sign primary distribution agreement with seven major distributors, each which special effects product sales through 149 completely branded, 288 co-branded and 4,000 secondary distributor outlets.

Co-branded: The Company has channelled revenue through ATM and the Internet for top-up of prepaid cards. To be able to focus VIP sector efficiently, the business has begun a separate portion of Corporate and VIP Sales.

Product

Mobily has been obtaining the three levels of product which will be the Core product, the Genuine product, and finally the augmented product. Furthermore, another marketing device for evaluating goods as THE MERCHANDISE Life Cycle (PLC) which based after the biological life routine, and The Customer Life Cycle (CLC) which focuses upon the development of and delivery of lifetime value to the consumers.( http://marketingteacher.com)

Three Degrees of a Product

Mobily Connect: Connect Al Zaeem, Connect Turbo Router, Connect Turbo, Connect Mini WIFI, Ferrari Connect, Connect Foot Ball, Connect Long Tail, Mini Wi-Fi.

Postpaid : Mobily Minute buntes , Blue Wave Mada, Najma,Deeraty, Raqi, Fallah Mobily Khatty and Khatty Plus.

Prepaid: 7ala, Anees, 7ala As well as, Wafeer, Mabuhay Kababayan, Blue Wave, Visitors Collection ‘Rihal’, fallah, I telephone line.

Smart phones :My spouse and i phone 3Gs, Apple i phone 4 4 , BlackBerry,Nokia N8,Samaung Galaxy Tab, Liquid E Ferrari .

Broadband at home, Mobile internet, Internet Roaming(can only just be used outside the kingdom of Saudi Arabia). (http://www.mobily.com.sa)

Promotion

Mobily is using the promotions mix to provide a distinctive campaign as :

Personal Selling. (Mobily tend to be well trainee for their sales personnel in the approaches and techniques of personal selling to meet up high margin in sales).

Sales Promotion.

Public Relations.

Direct Mail.

Trade Fairs and Exhibitions.

Advertising.( Mobily paid for communication to develop attitudes and create consciousness for folks. Furthermore, Mobily utilize the advertising in media such as newspapers (local, free of charge, trade), mags and journals, tv set (local, national, satellite television), outdoor advertising (such as posters).

Sponsorship (Mobily bought for SR 200 million over the five years to associate their brand with Al-Hilal which is one the top rated and well-noted football clubs, not only in Saudi Arabia however in the Middle East and Asia).( http://saudijeans.org)

SWOT Analysis

Strengths

The improvement and focus on impressive products and value-added services.

The experiences change and indirectly backed from the mother company “Etisalat UAE”.

Mobily have been using an aggressive online marketing strategy that enabled it to secure a 30% market share in under 2 yrs of operation.

To decline the price of operation and improve info revenues flow, Mobily is improving a fresh Saudi fibre optic network.

Mobily has been improving the business brand and status, to attract the organization sector in KSA.

Saudi federal government avoids currency risks.

quickly responded to a new competitor Zain by creating roaming agreements with about 100 operators in 56 countries.

Well improved mobile network coverage with 3G services.

Weaknesses

low in the increasing postpaid clients in Mobily’s subscribers

Continuing dependence on high spending for increase the network servers.

High focus of prepaid subscribers, about 90% of buyers signalling lower average earnings for parson.

STC is ranked initial in broadband overall

Opportunities

Due to rising essential oil prices in the world lead to build a strong economy and excessive GDP per person in a region.

A strong population growth, 69% of the population is under the age of 30.

Partnership with parent operator for entering new telecom markets.

Increase market show in mobile broadband.

Saudi government attempts to capture foreign direct investment in the telecommunications organization through improvements in information technology sectors.

Purchase of companies in the value chain.

Threats

Intense competition as a result of entrance of MTC recently, as the 3rd mobile player, is resulting in decreases in average earnings.

Due to better for buyers to transfer from one operator to another that lead to improved competition between operators.

Low demand response to different services.

Decline in margins consequently of price wars.

Failure of open public to adapt to changing technology.