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Essay / Research Paper Abstract
This 8 page paper looks at the way in which an investment new inventory control system may be assessed and planned. The benefits of an equity order quantity system are assessed. The value created is then determined with a net present value calculation and a Gantt chart is developed for an implementation. The bibliography cites 5 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEassinvcnt.doc
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Unformatted sample text from the term paper:
there will be a number of tools and systems that provide information which can be used to aid with strategic decision making. One area that is often overlooked is that
of inventory control, taking place at an operational level it is often one for the processes that is simply seen as a support process and not necessarily one that is
suited to the attention of strategic planning. However, it is a potential area of savings. For example, in research by Putzger (2005) it was estimated in 2004 that US businesses
had approximately $1.63 billion of capital tied up in their inventories. He 2004 represented an 8.9% increase on the 2003 figure (Putzger, 2005). This increase had a high associated cost;
the cost of for warehousing alone increased by $4 billion to $82 billion (Putzger, 2005). This may be seen as presenting a huge potential opportunity cost, tying up capital where
it is not needed, preventing it being used elsewhere (Nellis and Parker, 2006). When looking at information regarding inventory control this means looking at information regarding the current and other
potential systems. There are different approaches a firm may adopt to approach the subject of warehouse and stock control. They may consider methods of lowering the level of stock
held, and as such the amount of capital and the associated costs incurred by looking after the inventory. For example, shifting the inventory holding to another party, or reducing the
overall level overall (Grant, 2007). The second approach might be the acceptance that the stock is required onsite, and consider how best to manage it at the same levels to
increase efficiency and/or reduce costs. Good innovatory management will result in the right stock being in the right place at the right
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