Question

-Do you have an ERP system? If so, which one? How long did it take to implement it?
-What kind of inventory control techniques do you use?
-Do you employ ABC technique for inventory management?
-Do you utilize RFID systems?

Answer 1

ERP SYSTEM

ERP stands or Enterprise Resource Planning, every enterprise needs many core processes to complete its operations. it includes

1.finance

2.Human resource

3. manufacturing process

4.supply chain

these are essential for fulfill enterprise operations.so every time an entrepreneur should consider all these, enterprise resourcing system basically coordinating all functions like finance, human resource, and supply chain. basically ERP integrates all systems into a single system through new technologies like machine learning and Artificial intelligence

types of ERP system

1.cloud ERP

2.on premise ERP

3.hybrid ERP

commonly using a hybrid enterprise resourcing system which means run sum of applications using cloud systems and some on-premise. so this is an effective method which can adopt by everyone.it not taking to much time

Inventory control technique to use

there are different inventory control systems can be adopted.

1.just in time

2.ABC inventory control

3.fixed quantity

4.minimum or maximum stock level

ABC system is more effective in the retail industry

ABC INVENTORY SYSTEM

It is commonly using in retail industries.sometime as part of the hybrid system is using ABC method.based on this system inventory divided into three [arts named A, B,C.depenting on actual sales and demand. typically A grade inventory is highly demanded and C grade is less demanded.

RFID SYSTEM

RFID is the technology that simply means physical infrastructure that is the tool used to identify and label the object. this technology encompasses a particular identifier that is transmitted from one device to the reader through radio waves with a code.

RFID allows for warehouse inventory management ensuring that the shipped product conforms to the actual shipping order, preventing the stock-out at the sales level, updating managers the correct phase of production, decreasing paperwork, enhancing the level of productivity, increasing the clarity of the product development process throughout the supply chain and decreasing the cost of labor