Name:- Manoj Kumar
Title:- Analysis of Inventory Management of COCA COLA –of Agra sales and marketing Service Pvt. Ltd.
This study has been conducted to know about the Inventory Management of Coca Cola-of Agra Sales and Marketing Service Pvt .Ltd. in AGRA.
Management of inventory records and relevant details is an important area of concern for every organization, whether it is large or small. And also calls for efficient planning and maintenance. Think of a situation when you have to look into various registers to find and enter each and every minor mandatory detail. And the situation goes worse when you need to manage a number of such registers. Every register need to be updated to make the records up to date.
Obviously, managing number of such records and registers manually sounds to be truly a laborious job and calls for efficient and effective planning and implementation of effective skills to get the job done. But what for, if not all but a maximum part of the job of management can be done automatically with just the click of a button. In this context, the present study is a humble attempt to study the inventory management system and models in Coke India Limited.
OBJECTIVES OF THE STDY
The present study revolves around the following broad objectives:
- To understand the objective of inventory management of distribution of Coca Cola Agra sales and marketing services Pvt. Ltd
- To indentify how much inventory of 300 ml Bottle of Coca Cola is maintained by Agra sales and marketing services Pvt. Ltd
- To understand the factors which are taken into consideration in design of the inventory management of Coca Cola 300ml bottle of Agra sales and marketing services Pvt. Ltd.
- To finely recommended how Coca Cola can improve inventory management system of 300ml bottle of Agra sales and marketing services Pvt. Ltd.
Inventory is a quantity or store of goods that is held for some purpose or use (the term may also be used as a verb, meaning to take inventory or to count all goods held in inventory). Inaccurate inventory counts can cost you sales and delay shipments past the promise date. Out-of stock items as well as overstocked items in inventory can be devastating to your business. Additionally, an overstated or understated inventory valuation can result in incorrectly reported assets within your financial statements. Inventory Management offers comprehensive reporting capabilities to keep you on top of inventory status. Centralized inventory management consolidates inventory information by tracking lot numbers, on-hand levels and expiration dates, making the re-ordering process more efficient. It also enables simultaneous tracking and documenting supplies during studies to reduce redundant data entry and increase workflow efficiency.
The biggest challenge Coca Cola India had to deal with was managing simultaneous implementation across the locations. While the company put together a competent internal team, they realized that not many members had first hand experience working at these locations nor did they have an understanding of the local systems in place. The company looked for a solution that was universal yet locally adaptable. They evaluated a few options before deciding on Microsoft and SAP Business One. It felt that they provided them the much needed adaptability and flexibility. SAP also inherently possessed control and check features for management control which was important for Coca Cola India, considering their widespread offices and future global expansion plans. Also, SAP was web-enabled, had the necessary reporting capabilities and had local product support at all the locations considered for implementation.
With product lines growing and customer tastes in constant flux, IT Project Manager of Coca Cola India sees the issues of production planning and inventory management growing even more complex—just the kind of environment in which the new system is designed to thrive. They have almost 50 new products coming out over the next year, while at the same time our large retail customers are demanding the most efficient replenishment practices. By tightening their just-in-time processes with real-time information, they can turn this challenge into an opportunity.
Basis my analysis of inventory management in Coca Cola of Agra sales and Marketing services Pvt. Ltd. My suggestion are:
v Improve employee skills
v Provide a training to new employee about inventory manage
v When using the upgrade software for inventory than give the training to employee and aware the about new technology.
v To aware the employee importance of inventory each product.