OUTSOURCING INVENTORY MANAGEMENT
"Effective inventory management is all about knowing what is on hand, where it is in use, and how much finished product results. It allows an organization to meet or exceed customers' expectations of product availability with the amount of each item that will maximize the organization's net profits."
At "GLOBAL OUTSOURCING TO INDIA" our trained and qualified workforce in the task of inventory evaluation and reporting understands the functioning and other aspects of clients’ company and provides reliable inventory valuation services for evaluating the cost assigned to raw materials inventory, work in progress and finished goods. We provide complete solution for your order fulfillment including Inventory management
INVENTORY MANAGEMENT
Inventory Management must be designed to meet the dictates of market place and support the company’s Strategic Plan. The many changes in the market demand, new opportunities due to worldwide marketing, global sourcing of materials and new manufacturing technology means many companies need to change their Inventory Management approach and change the process for Inventory Control.
Inventory Management system provides information to efficiently manage the flow of materials, effectively utilize people and equipment, coordinate internal activities and communicate with customers. Inventory Management does not make decisions or manage operations; they provide the information to managers who make more accurate and timely decisions to manage their operations.
INVENTORY is defined as the blocked Working Capital of an organization in the form of materials. As this is the blocked Working Capital of organization, ideally it should be zero. But we are maintaining Inventory. This Inventory is maintained to take care of fluctuations in demand and lead time. In some cases it is maintained to take care of increasing price tendency of commodities or rebate in bulk buying.
SERVICES PROVIDED BY GOTI:
- We provide you Updated list and records of your organizations.
- Updated record on purchase & sale.
- Updated record on in & out of goods.
- Updated record & intimation for obsolete stocks as per your requirements.
- Maintenance of stock record on desirable format.
- Classification of items as it demands.
- Vendor Inventory Management
- Retail Inventory Management
- Inventory Asset Management
- Warehouse Inventory Management
- Offsite Inventory Management
- Purchasing And Inventory Management
- Database Inventory Management – MDB
- Small Business Inventory Management
FEATURES OVERVIEW
- Purchase Order Processing
- Inventory evaluation
- Stock Management
- Sales Order Processing
- Bill Passing
- Bar Coding
- Asset Tracking
- Warehouse Inventory Management
- Export / Import
- Sales & Distribution Management
- B2B for PO & SO Management / EDI
WHY OUTSOURCE TO “Globaloutsourcingtoindia”?
"Globaloutsourcingtoindia" has a vast experience in inventory management with qualified team across the country. We helped firms improve their productivity and profitability through better inventory management. OUR team is equipped and dedicated to help organizations provide outstanding customer service while maximizing the return on their inventory investment.
It is critical in these challenging economic times that:
- Only an appropriate number of rupees are invested in stock inventory
- Every rupees works as hard as possible to maximize the profitability and productivity of your investment.
"So WE have our own certain ways developed by experiences and as per the client work frame." These are:-
- Obtain management commitment - Management must clearly communicate the company's vision, strategy, and short- and long-term goals and objectives. Many functional areas impact inventory, yet no one functional area owns the inventory process. To improve the inventory management system, senior management must lead the way; be highly visible; communicate clearly; and deliver focused, full-time leadership which is provided by US.
- Develop process objectives and deploy the team – WE develop the process and make team accordingly from each functional area, including sales and marketing, engineering, purchasing, planning and production, and finance and cost accounting. Once the team for each functional area has been established, the group should determine process objectives, milestones, and due dates.
- Identify the process - The team should identify and evaluate all the inventory-related activities within the functional area. Benchmark data should then be acquired for all key processes or activities, and comparisons should be made between current activities and those of the best in class.
- Define the process - Team members should familiarize themselves with the processes that affect inventory for each functional area. The team should then diagram the process and document its impact on the company's inventory. Every step of the process should be included. Sticky notes on a wall may be a useful tool for creating the diagram which would help out in making decision quickly.
- Assess for improvement - The team should evaluate the results of the functional process reviews and determine a rough order magnitude for potential inventory reduction and increased operational efficiencies.
- Communicate the results - The team should communicate the results of the functional review to each functional area manager and request feedback on the assessment. We consolidate the assessment results from each functional area and prepare a consolidated operational report with a recommended action plan to upper management.