How to Create Efficiency in Inventory Control
FACULTY OF BUSINESS
BACHELOR OF BUSINESS
341.733
WORKPLACE ACCOUNTING PROJECT
RESEARCH REPORT DRAFT
GREENSTONE ENERGY LTD
HOW TO CREATE EFFICIENCIES IN INVENTORY CONTROL
TABLE OF CONTENTS
PAGE NO:
ABSTRACT
INTRODUCTION
BACKGROUND
RESEARCH QUESTION
AIM OF THE STUDY
LIMITATIONS
METHODOLOGY
COLLECTION OF DATA
FINDINGS
DISCUSSION
CONCLUSION
RECOMMENDATION
REFERENCES
ABSTRACT
In this research project, I will explore the need for a new system to replace the core inventory ordering systems at Greenstone Energy. I will be comparing the current system against a new system and in particular, focus on how the implementation of the new system will benefit the organization as a whole especially in the Inventory department which is the critical part of the day-to-day of the business as we only need to carry what we sell. . The decision to change any system within an organization is one of the most critical business assessments and therefore needs proper research. By doing extensive and proper research as this is the most critical part of the company, my intention is to provide information to the Area manager and the Retailer which will be fundamental before embarking on a system change. (Gupta .S, Landon .G, (personal communication, March 26, 2011).
Inventory management in its most efficient form incorporates many different technical applications of inventory management models.
”(According to Qualitative Research International 2011)”, Such concepts as safety stock, economic ordering quantity, cost of goods, inventory turnover, customer managed inventory and a vendor managed inventory, whole spectrum of underlying inventory management tools play