Introduction

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Table of Contents

Introduction. 2

Reflective Report on Inventory Basics for Production Research. 2

Conclusion. 4

Reference list 6

Introduction

The reflective report on inventory basics for production research is a single echelon model. This report reviews the single echelon inventory management system on perishable products. This report included a range of parameters and helped to reach a suitable position where this model is much more effective and covers realistic situations for the management. This report also helps to assume that total cost or profit should be used and how much to order the replenishment question. This report also helps to present a method to compare multi-metric performance in this model and with the traditional cost. Characteristics of inventory basic problems

Reflective Report on Inventory Basics for Production Research

The report of inventory basics for production refers to many differences as per this management system. This management system defines time and quality for replenishment. This management model is also famous for its fewer stocks of safety for the customers and their services. A range of characteristics depends on the inventory basics for production. Those characters play a huge role in inventory problems. Here, demand distribution reflects on the inventory problems. It is important to develop the concept regarding self skill development process (Jenkinson, Taylor & Laws, 2018). When demand is uncertain or unknown to all, this time this model proceeds. Product lifetime or lifetime depends on the structure of this model. A product that has an undetermined or uncertain time to stock that is product lifetime. These things affect the inventory structure. Shortage situations also create problems in the inventory structure. If a customer searches for a specific kind of bread that is not available in the store, this is called a shortage situation. Through influencing the production system it is possible to boost industrial performance (Sgarbossa et al., 2020). This situation affects inventory production. Stock issuing policies also create a problem in the inventory of products. The product is stored which is still until its disposal or required, that is a stock issue.

The basic structure of the inventory management system

The inventory management system is very useful for the automated sales order fulfilment system. This structure assures a structure to promote the sales employee to select their items and mark their packaging and shipping information. The structure of an inventory system assures many kinds of proportions to achieve. Those are such as network inventory, stand-alone inventory, web-based inventory and many more. It is important to understand the relationship between adopting useful tools (Buer, Strandhagen & Chan, 2018). Those all are dependent on the management system process. The network inventory management system is based on the network by using mobile and many more. The stand-alone inventory system is used by employees for their businesses. This business might be small or medium size.

Figure 1: Growth graph of industrial productivity after influencing organisational performances

Source: (Staedele, Ensslin & Forcellini, 2019)

This system is an offline system and it is not connected with other systems. Web-based inventory management systems can be accessed by computer or any kind of web connection. This management system is very useful in the current business structure because this system can be a smart step for the business to store data, share files and accessibility to manage the data and many more. All of the management systems help to store data such as customer information, address and updatation and many more which is very helpful for the production process. This management system helps to enhance the business structure in a logical way and helps to centralise information which is a great step for inventory. 

The usefulness of inventory management system

The inventory management system is very useful to utilise a business structure. In this current situation, every business needs to focus on its product and its utilisation concept. This system creates a structure of inventory for a business and achieves success in this business journey. Through the inventory management system, everyone expands their business. Through this management system, a company or organisation creates a structure to enhance its business. Anyone stores data and information of customers, product cost, product making items and many more. Through the inventory management system, an organisation achieves a report on working. In order to develop the business performances market analysis is required (Staedele, Ensslin & Forcellini, 2019). Inventory management systems also maintain the success of manufacturing, wholesale and retail businesses. A proper inventory report helps an organisation with proper planning, inventory tracking transparently, organised categorisation and many more. It is very useful because it summarises a business current inventory in a certain time by a stock. Through this management system, any person can achieve quick details on product structure such as which product is able to sell and which is needed to order. This is significant because through this management system a firm avoids stock out and overstocking which is very useful to business structure. In order to boost the productivity industrial inventory resort must be caret (Rauch, Linder & Dallasega, 2020). A better inventory report helps an organisation to tie up its capital in various products and barcodes. This is very helpful for the organisation to reorder points, budgeting, forecasting and many more. 

There are a few types of inventory reports which play a significant role in business growth. Those reports also affect the business structure of an organisation. Those reports are such as performance report, profitability report, product value report, stock level report and many more. Those reports create a straight path for business growth. Through this report, a person can easily clear their concept of how many products in each store and how many need to prepare. This management system is very helpful for the proper growth of an organisation.

 Conclusion

According to the study of inventory basics for production, inventory management systems are a powerful process to achieve growth in a business structure. Every business needs to maintain a process about production, delivery, sale, store, repair products and many more. Those all issues are related to the making process and maintaining the process. Inventory management systems create a structure to utilise the journey and gain more profit for the business structure. It is a very useful process because through this an organisation easily accesses their production and profitability and many more things which is a very enhancing thing for a business structure. This management system also overlooks the item stock of an organisation that helps the firm to keep their stock control which is very effective to run a successful business. Through this management system, an organisation expands their business effectively and easily and gains profit on production.

Reference list

Buer, S. V., Strandhagen, J. O., & Chan, F. T. (2018). The link between Industry 4.0 and lean manufacturing: mapping current research and establishing a research agenda. International journal of production research, 56(8), 2924-2940. Retrieved from: https://ntnuopen.ntnu.no/ntnu-xmlui/bitstream/handle/11250/2581150/Authors%27+postprint+-+Investigating+the+link+between+I4.0+and+LM_final.pdf?sequence=1

Jenkinson, P. M., Taylor, L., & Laws, K. R. (2018). Self-reported interoceptive deficits in eating disorders: A meta-analysis of studies using the eating disorder inventory. Journal of psychosomatic research, 110, 38-45. DOI: https://doi.org/10.1016/j.jpsychores.2018.04.005

Rauch, E., Linder, C., & Dallasega, P. (2020). Anthropocentric perspective of production before and within Industry 4.0. Computers & Industrial Engineering, 139, 105644. DOI: https://doi.org/10.1016/j.cie.2019.01.018

Sgarbossa, F., Grosse, E. H., Neumann, W. P., Battini, D., & Glock, C. H. (2020). Human factors in production and logistics systems of the future. Annual Reviews in Control, 49, 295-305. DOI: https://doi.org/10.1016/j.arcontrol.2020.04.007

Staedele, A. E., Ensslin, S. R., & Forcellini, F. A. (2019). Knowledge building about performance evaluation in lean production: An investigation on international scientific research. Journal of Manufacturing Technology Management. DOI: https://doi.org/10.1108/JMTM-12-2017-0277