Scribd Logo
Upload

Welcome to Scribd!

  • 19 views

    Manual inventory-WPS Office

    Uploaded by

    Hannah Sophia
    research

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Manual inventory-WPS Office

    Uploaded by

    Hannah Sophia
    19 views2 pages
    research

    Original Title

    manual inventory-WPS Office

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    research

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views2 pages

    Manual inventory-WPS Office

    Uploaded by

    Hannah Sophia
    research

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    Manual Inventory

    Manual inventory tracking practices are more susceptible to frequent inaccuracies and hinders the
    visibility of actual inventory in stock (Barratt et al., 2018). A manual inventory management system is
    related to excessive inventory errors. The chance for human errors are increased with the use of a
    manual inventory tracking system in a manufacturing business. Inventory errors consists of
    misplacement, waste, and fraud, which can be costly (Shteren & Avraham, 2017). From an operational
    perspective, businesses should focus on monitoring the costs to efficiently maximize their income
    (Akhtar & Liu, 2018). With a modest amount of cashflow, small and privately owned businesses often
    opt to secure inventories through a manual control system. From maintaining a continuous paper trail to
    formulating basic records, Kroes and Manikas (2018) Expressed businesses are more sensitive to
    unforeseen loss and theft of inventory items. The prolongation of unforeseen inventory losses are costly
    for any business trying to access the root cause and rebuild from making poor inventory decisions (Yan
    et al., 2019).Several businesses have the means for technological investments, but still prefer to
    preserve capital and find sustainability in a manual inventory system (Yan et al., 2019).

    Inventory

    Inventory is money for any manufacturing company and inventory is necessary to financially sustain the
    business. Therefore, management should have procedures in place to safeguard the inventory
    movement throughout the supply chain and have actions to promote accountability (Ciftci & Darrough,
    2019)

    REFERENCE:
    Akhtar, S., & Liu, Y. (2018). SMEs' use offinancialstatements for decision making: Evidence from Pakistan.
    Journal of Applied Business Research (JABR), 34(2), 381-392. doi:10.19030/jabr.v34i2.10138

    Barratt, M., Kull, T. J., & Sodero, A. C. (2018). Inventory record inaccuracy dynamics and the role of
    employees within multi-channel distribution center inventory systems. Journal of Operations
    Management, 63(1), 6-24. doi:10.1016/j.jom.2018.09.003

    Ciftci, M., & Darrough, M. (2019). Inventory policy choice and cost of debt: A private debtholders’
    perspective. Journal of Accounting, Auditing & Finance, , 148558. doi:10.1177/0148558X19848881

    Kroes, J. R., & Manikas, A. S. (2018). An exploration of 'sticky' inventory management in the
    manufacturing industry. Production Planning & Control, 29(2), 131-142.
    doi:10.1080/09537287.2017.1391346

    Shteren, H., & Avraham, A. (2017). The value of inventory accuracy in supply chain management: Case
    study of the Yedioth communication press. Journal of Theoretical and Applied Electronic Commerce
    Research, 12(2), 71-86. doi:10.4067/S0718-18762017000200006

    Yan, H., Yano, C. A., & Zhang, H. (2019). Inventory management under periodic profit targets. Production
    and Operations Management, 28(6), 1387-1406. doi:10.1111/poms.12986

    You might also like