Inventory Management for Planning and Control - myassignmenthelp

Question: Discuss about theInventory Management for Planning and Control. Answer: Activities regarding planning and Control Andy cement is a cement manufacturing company, as per the analysis it is seen that the company puts much effort on the process of proper planning and execution of such plans by Appling proper control and achieve the organizational goal. As Slack, Chambers and Johnston (2010) said, Planning and control activities provide the systems, procedures and decisions which bring different aspects of supply and demand together (Lee, Bagheri and Kao, 2015). Planning is that integral part of management which is concerned with the determination of the business goal, how that will be directed in future to achieve better profitability. Implementation of such plans under proper supervision is controlling. Planning and control are concerned with mainly with 4 activities (Jacobs et al.,2014) . The activities are product loading, Sequencing them, scheduling, monitoring their work and controlling all the activities. Andy cement performs a very high consistent loading of the produced goods that is about 1400 to 1600 tons of cement per day. There loading generally depends on the amount of product demanded by the customer, there is no limitation to it. There are various methods of sequences that can be followed for example FIFO, LIFO, Customer priority sequencing, due date sequencing, physical constraint, longest operation time and shortest operation time among this the method used in sequencing is First in first out (FIFO). But this depend on the customers requirements, the customer that will finish loading first will get the first in product available. As per the sequencing the next step that the company takes up is decision making of appropriate working schedule. Specifying, what work is to be done when is known as scheduling. Andy cement follow backward scheduling method to stop being late. The company keeps the stock of the product but if they can produce more the start producing without any hindrance of other variable factors. After completing all the steps of planning the company goes for monitoring and controlling the planned operation to achieve the desired result. The process of monitoring of this cement company is calcified under few steps. Firstly, the company checks the quality of the cement, its fineness, in every 2 hours the SO3 is checked before packing. There is a continuous QC range for monitoring the product. QC 1, is the check of the Gypsum and clinker which is received at the jetty, QC 2, checking the cement during processing, QC 3 checking of the combined sample of the product, QC 4, checking the total quality just before supplying them to the customer (Hugo et al.,2016). Secondly, quality controls by minister of public work for checking whether the product is of perfect standard and meet the requirement properly or not. Thirdly, thirdly the quantitative value is also authorized, if there is any complain from the retailer or any other related party then the related department discuss and ta ke decision. The management is responsible for every happening in the company, if anything goes wrong the management is answerable (Kalsaas et al.2016). At the scenario of Down Time the company stops producing due to some reason it can be any reason like machine break down and other production related problem. In this cement company once the machine spare parts got burnt and the management was questioned as the problem made a hindrance to production. The production stopped for over one month and the company had to compensate a huge amount of loss that was incurred. The pressure of the whole scenario fell on the employee. If a stock is maintained then at the time of such pressure the quality of the product that is delivered to the customer will not be affected. But huge stock can also be a problem as the products can perish by passing time. References Hugo, G.B., Fettermann, D.C., Tortorella, G.L. and Testoni, M., 2016. Inventory Management: a Case Study in a Small Enterprise of the Electronics Sector.Produo em Foco,6(02), pp.66-74. Jacobs, F.R., Chase, R.B. and Lummus, R.R., 2014.Operations and supply chain management(pp. 533-535). New York, NY: McGraw-Hill/Irwin. Kalsaas, B.T., Bonnier, K.E. and Ose, A.O., 2016. Towards a Model for Planning and Controlling ETO Design Projects. Lee, J., Bagheri, B. and Kao, H.A., 2015. A cyber-physical systems architecture for industry 4.0-based manufacturing systems.Manufacturing Letters,3, pp.18-23.