Tuesday 19 May 2015

Inventory Management System-Software Development-Geneotech Services

Inventory Management System-Software Development-Geneotech Services


Inventory Management System-Geneotech Services
• Inventory management simply means the methods you use to organize, store and replace inventory, to keep an adequate supply of goods while minimizing costs.
• In any business or organization, all functions are interlinked and connected to each other and are often overlapping. Some key aspects like supply chain management, logistics and inventory form the backbone of the business delivery function. 
• Any organization which is into production, trading, sale and service of a product will necessarily hold stock of various physical resources to aid in future consumption and sale. While inventory is a necessary evil of any such business, it may be noted that the organizations hold inventories for various reasons, which include speculative purposes, functional purposes, physical necessities etc. 

Purpose of IMS-
• Stocking the RIGHT PRODUCT
• Able to LOCATE the products
• Maintain OPTIMUM LEVEL of inventory

Benefits of IMS-
• Inventory Balance
• Time Saving
• Cost Cutting
• Accurate Planning
• Repeat Customers
• Warehouse Organization
• Inventory Orders
• Inventory Tracking
• Inventory Turnover

Need For IMS- Why do Companies hold Inventories ?
• Meet variation in customer Demand:-
o Meet unexpected demand
o Smooth seasonal or cyclic demand
• Pricing related:-
o Temporary price discounts
o Hedge against price increases
o Take advantage of quantity discounts
• Process & Supply surprises:-
o Internal - upsets in parts of our own processes
o External - delays in incoming goods.
• Reduce Transit Cost and Transit Times

Geneotech is a group of innovative and creative minds based in INDIA. We believe in philosophy of being the best at whatever we step into and that is what our vision of thought is for our clients.
We create Individual Websites, Business Websites, 
E-Commerce Websites (B2B & B2C), Special purpose websites, custom development.
Responsive sites, Dynamic sites, CMS sites.
Web/ Windows Applications
Fore more details

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