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Inventory Management System- Ian

The document outlines the importance of an efficient Inventory Management System (IMS) for a manufacturing company to improve supply chain operations and operational efficiency. It highlights the limitations of the current manual system and proposes a technology-driven IMS that includes features like inventory tracking, order management, and demand forecasting. The objectives include optimizing inventory levels, reducing costs, enhancing supply chain visibility, and improving decision-making through data analytics.

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janefrancesndati
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5 views

Inventory Management System- Ian

The document outlines the importance of an efficient Inventory Management System (IMS) for a manufacturing company to improve supply chain operations and operational efficiency. It highlights the limitations of the current manual system and proposes a technology-driven IMS that includes features like inventory tracking, order management, and demand forecasting. The objectives include optimizing inventory levels, reducing costs, enhancing supply chain visibility, and improving decision-making through data analytics.

Uploaded by

janefrancesndati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Inventory Management System

1.0. Introduction:

Inventory management is a critical aspect of any business operation, playing a pivotal role in

ensuring smooth supply chain operations, optimal resource utilization, and customer satisfaction.

In today's fast-paced and competitive business landscape, the need for an efficient Inventory

Management System (IMS) cannot be overstated. An effective IMS enables businesses to

streamline their inventory processes, accurately track stocks, minimize carrying costs and

ultimately improve overall operational efficiency.

1.2. Background Information

The organization is a manufacturing company with multiple warehouses and a complex supply

chain network. The current inventory management system is manual, leading to inefficiencies

and errors. The proposed information system will serve as the backbone of inventory control,

encompassing a wide array of functions such as inventory tracking, order management, demand

forecasting and replenishment planning. By harnessing the power of technology and data

analytics an IMS empowers businesses to make data-driven decisions, automate routine tasks

and optimize inventory levels to meet fluctuating demand patterns. The IMS is intended to

oversee the ordering, storing, and use of components that a company uses in the production of

the items it sells. It ensures that inventory levels are maintained efficiently while minimizing

excess stock and shortages.


1.3. System Objectives

1. Optimize inventory levels by accurately tracking stock levels and demand patterns.

2. Reduce carrying costs and minimize stock-outs through proactive inventory control.

3. Enhance supply chain visibility and coordination with real-time updates and alerts.

4. Improve decision-making through data-driven insights on stock movement and reorder

points.

1.4. Operations

1. Implement barcode scanning and RFID technology for accurate inventory tracking.

2. Set up automated alerts for low stock levels, expiring items and replenishment needs.

3. Integrate with suppliers and distributors for seamless order processing and updates.

4. Utilize forecasting models and analytics for demand planning and inventory optimization.

1.5. Context DFD


1.6. Level Zero DFD

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