Inventory System

Topics: McDonald's, Fast food restaurant, Inventory Pages: 7 (2567 words) Published: January 18, 2013
Inventory management is vitally important for any business that sells a physical product. An inventory system must balance having enough inventories on hand to meet the demand of customers while investing as little money as possible in inventory. Perishable products add another dimension of management considerations because they must be cycled through the inventory system more quickly and stored in a way that preserves their value. An inventory control system is an integrated package of software and hardware used in warehouse operations, and elsewhere, to monitor the quantity, location and status of inventory as well as the related shipping, receiving, picking and put away processes. In common usage, the term may also refer to just the software components. An inventory control system may be used to automate a sales order fulfillment process. Such a system contains a list of order to be filled, and then prompts workers to pick the necessary items, and provides them with packaging and shipping information. It is a supervision of the supply and storage and accessibility of items in order to insure an adequate supply without excessive oversupply. Inventory management systems are software programs used to maintain, gather and track inventory from the moment it reaches a retail setup to the moment it is sold. Automation has increased the efficiency and accuracy of inventory management, allowing companies to get information about a particular product's sale levels and whether it is time to reorder at the very moment the item reaches a predefined stock level. The McDonald’s started in 1954. Raymond Kroc who is the founder saw a hamburger stand in San Bernardino, California and visualized a nationwide fast food chain. Kroc tested himself as an ancestor who revolutionized the American restaurant industry. Actually, Raymond Kroc is esteemed being the Farther of Industry. It became a popular and profitable teen hangout. In 1948, the brothers closed and reopened the restaurant to sell only hamburgers, milkshakes and French fries. As per the information of the McDonald’s history, the major revenue came from hamburgers, which were sold at a nominal price of 15 cents. The restaurant gradually became famous and the McDonald brothers begin franchising their restaurant in the year 1953. The first franchise was taken by Neil Fox and under it; the second McDonald’s restaurant was opened in Fresno, California. It was the first to introduce the Golden Arch design. The third and fourth restaurants were opened in Saginaw, Michigan and Downey, California, respectively. The latter is the oldest McDonald’s restaurant still in operation. In 1954, an entrepreneur and milkshake-mixer salesman, Ray Kroc, acquired the franchise of McDonald’s restaurant for outside California and Arizona. In effect, Kroc opened his first and the overall ninth restaurant in Illinois, Chicago, and gave birth to McDonald’s Corporation. In 1958, the restaurant chain sold its 100 millionth hamburger. In 1960, Kroc renamed his company as ‘McDonald’s Corporation’. In 1961, Kroc convinced the McDonald brothers to sell the business rights to him for a sum $2.7milion. Later that year, the Hamburger University was opened, which gave away McDonald's restaurant Bachelor of Hamburgology degrees to students. In 1963, the mascot Ronald McDonald was born as a part of a marketing strategy in US. In 1967, the first restaurant outside US was opened in Richmond, British Columbia. In 1974, the 3000th restaurant opened in Woolwich, United Kingdom, which is the first of the country. Happy Meal was introduced in US in 1979. In 1984, the company became the main sponsor of the Summer Olympics. The year was also marked by the death of Ray Kroc. In 1988, the first restaurant opened in a communist country in Belgrade, Yugoslavia, followed by the first Soviet restaurant in Moscow (1990). In 1992, the largest McDonald’s was opened in Beijing, China, having over 700 seats and was later...
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