5.4 Computerized Inventory Management Systems.
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4 INVENTORY MANAGEMENT COMPUTER SYSTEMS
It is a program, used by means of a computer, that allows you to control and manage the
products that are inside a warehouse.
It usually records the inputs and outputs of products, also keeping track of the costs for each
inventory movement.
It can also manage products being transferred between warehouses and the more
sophisticated ones can handle virtual warehouses and mobile warehouses for JUST IN TIME
deliveries.
These systems can generate accounting policies and statistical information on the behavior of
the products that are stored, in order to see the inventory rotation and avoid obsolescence.
In relation to inventories, there are a huge number of computer programs available that
facilitate this management. Some of the most recent computer systems for inventory
management are the following:
Integrated inventory management
The goal is to have the right merchandise in the right place at the right time. Stock keeping
units (SKUs) are used to record items upon arrival at the store and at the time of sale. With a
simple scan of the barcode at the point of purchase, the SKU number, product name, sales
price and cost are recorded in the company's databases.
For example, if a hypermarket like Wal-Mart anticipates a shortage of an item, its employees
or managers can use Wal-Mart's item locator program with a palm to find inventory at other
locations. A phone call is then made to order the SKU.
The database is connected to 2,500 of Wal-Mart's 10,000 suppliers, including Warner Lambert.
To help Wal-Mart and its suppliers adjust to fluctuations in demand, a database is maintained
covering 65 weeks of sales for each product.
Dynamic Inventory Optimization (DIO)
It is a highly effective technique in stock management. It allows the management and control
of stocks of finished products that are acquired to be used or sold, and that have the
characteristic of having an uncertain future demand.
It is also defined as an extremely useful technique for reducing inventories, since it informs
when is the appropriate time to replenish stock and what quantities to order, values that are
dynamically optimized based on the periodic update of demand forecasts.
Warehouse Management System (WMS).
This system allows for the organized management of all merchandise movements from one or
more warehouses, including third-party warehouses, which guarantees the optimization of
storage techniques and the technological and human resources involved in the process. To do
this, the software must be integrated with tools such as laser barcode readers, radio frequency
data transmission terminals and have Internet access integration.
In addition to reducing costs and controlling warehouse movements, WMSs allow you to
control stocks in real time, consult the warehouse layout, view the different areas on screen,
evacuate certain places for maintenance or cleaning, and obtain various statistics, among
other functions.
Advanced Planning and Scheduling Systems.
APS (Advanced Planning and Scheduling) systems are computer tools that consist of using
optimization techniques to obtain an “intelligent solution” in supply chain management. To
this end, the programs use techniques such as linear programming, ABC inventory
classification, heuristic models, and the theory of constraints approach, among others.
Through this type of systems
Demand estimation can be linked to the company's aggregate plan and supply, plant
and distribution logistics.
Material requirements can be generated based on resource availability and any other
constraints that may exist.
the effects of any disruption in the supply chain can be known in advance (shortages,
strikes, machinery failures, warehouse accidents, etc.)
