SC0004 - Inventory Management

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(Spring/Feb 2013)

Master of Business Administration - MBA Semester 3

“Supply Chain Management” Specialization

SC0004 - Inventory Management

(4 credits)

(Book ID: B1545)

ASSIGNMENT- Set 1

Marks 60

Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.

Q1. What are the objectives of inventory management 10 marks(300-400) words

Answer : "Inventory Management"

Inventory management is the active control program which allows the management of sales, purchases and payments.

Inventory management software helps create invoices, purchase orders, receiving lists, payment receipts and can print bar coded labels. An inventory management software system configured to your warehouse, retail or product line will help to create revenue for your company. The Inventory Management will control operating costs and

Q2. Explain the concept of Order-to-Cash (OTC) cycle.10 marks(300-400 words

Answer : Order To Cash (OTC)

e•chain helps in automating the order-to-cash business processes. For most organizations, cash is king, and optimizing the order-to-cash cycle has become a strategic priority. Supply chain execution is managing and coordinating the movement of materials information and funds across the supply chain. The flow is bi-directional. Use the power of e•chain order-to-cash suite to improve customer satisfaction and reduce cost.

·         Inventory

·         Seamless integration with Procurement, Sales, Finance, Production and Planning

·         Dynamic and Configurable Item Codification Structure

·         Multi-Dimensional

·          

·         Q3. What are the approaches to allocate factory overheads . 10 marks(300-400 words

Answer : Traditional Methods of Allocating Manufacturing Overhead

Let’s look at several methods used to allocate manufacturing overhead. Keep in mind that if the method does not allocate the true amount of factory overhead, the cost per unit of product will be wrong and could result in management making a flawed decision. As you review these methods, ask yourself for each given product, will the allocated amount of overhead reflect the actual amount of overhead used in that item’s production? If a cause-and-effect relationship is not evident, is there at least an obvious correlation between manufacturing overhead and the basis for the allocation (such as machine hours)? If there is no

Q4. What are the steps in layout process ?10 marks(300-400 words

Answer : In industrial engineering, process layout is the floor plan of a plant, which is installed by industrial engineers to improve the efficiency by arranging equipment according to their functions. The production line should be redesigned to eliminate waste in material flows, inventory handling and management. In process layout the m/c are not arranged according to a particular product sequence. Instead there is an assembly of

Q5. Discuss code 39 barcode in details 10 marks(300-400) words

Answer : Code 39 (also known as Alpha39, Code 3 of 9, Code 3/9, Type 39, USS Code 39, or USD-3) is a variable length, discrete barcode symbology.

The Code 39 specification defines 43 characters, consisting of uppercase letters (A through Z), numeric digits (0 through 9) and a number of special characters (-, ., $, /, +, %, and space). An additional character (denoted '*') is used for both start and stop delimiters. Each character is composed of nine elements: five bars and four spaces. Three of the nine elements in each character are wide (binary value 1), and six

Q6. Explain the various methods of cycle counting 10 marks(300-400 words

Answer : Cycle counting is an audit technique where inventory is counted on a cyclic schedule and a process of not just fixing the inventory error but understanding and eliminating the root cause for the inventory inaccuracy. It is also a method of measurement so that you have a benchmark for continuous improvement. If not done correctly, this process can be a waste of resources. This article will explore several different types of cycle count methods that can be used.

Control Group Method

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