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Inventory and Control

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  • July 2011
  • 734 Words
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This paper is the study of Harvey Industries, a Wisconsin company which specializes in the assembly of high-pressure washer systems and in the sale of repair parts for these systems, Due to the recent death of the owner, the trust department of a Milwaukee Bank (as trustee for the estate) has taken over the company’s affairs and has appointed a new company president. The new president has identified many problem areas- one of which is improper inventory control. The new president retained my services as a consultant to present specific recommendations concerning a revised inventory control system and my reasoning for such recommendations. The first action item, I would create separate departments for each service and products. These would include the pressure washers and the coin operated car wash systems, as well as any others that the company may maintain. Most of the organizations have a separate department or job function called inventory planners who continuously monitor, control and review inventory and interface with production, procurement and finance departments. (cited in Inventory Management, Secondly, each piece of inventory, whether it be a pressure washer or something as small as a nut, each piece of inventory should have a valid bar code so that the inventory can be deducted from the inventory system. These bar codes will allow for automatic identification as soon as the bar code is scanned. By using bar codes to scan the items for each transaction, you are ensuring that the correct information is recorded thereby preventing mistakes in both shipping and data entry. Obviously, prior to obtaining these inventory bar codes, you will need to have an inventory software system to track these bar codes. These bar codes will then go into the computer system. Thereafter, it should allow you to automatically order inventory when it is necessary, as opposed to being automatically ordered....

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