Browsing Tag

inventory

Vendor Managed Inventory (VMI)

For any organization, managing Inventory is one of the biggest tasks at hand. Ensuring it is under the specified level, simultaneously making sure it does not run out when needed, is a herculean task in itself. WHAT IS VMI: Vendor managed inventory or VMI is an integrated inventory management approach that offers relief from the inventory concerns.…
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Real Time Information Sharing in the Apparel Industry

Defining Real-Time System An IT enabled system that is able to provide necessary information to its users, as sooner as things are rolled on, is called real time system. Having worked in the apparel industry for some time now, I have always thought about the importance and challenges being faced by an apparel exporter in sharing information in real…
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PHANTOM INVENTORY

Have you ever faced the problem in your manufacturing or retail location, when a particular item is showing in the stock in your accounting system and yet you can’t find it anywhere? Is the stock showing in records an illusion or a figment of our imagination, or does it really exist? Inventory that shows to be on-hand in the company’s accounting…
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Just In Time

In order to compete effectively, companies must be capable of manufacturing high-quality products at a low cost and also provide a first class customer services. In addition, they must have the flexibility to cope with short product life cycles, demands for greater product variety from more discriminating customers and increasing international…
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