Inventory Management Assignment Example | Topics and Well Written Essays - 1750 words

Inventory Management - Assignment Example ntory management software company and still maintains this as strongest value proposition in its portfolio; yet over time, the company is now able to offer complete end-to-end supply chain solutions through acquisitions and mergers. The company’s most popular and successful product for inventory management is the updated version of inventory management software, which had been its initial product. The inventory management techniques of both companies have been critically analyzed to answer the below mentioned questions. RGIS generally manages a whole range of products ranging from retail to healthcare. It provides clients with technological edge over the competitors, thereby simultaneously reducing the cycle time and stock outs and maintaining a healthy average inventory. The company holds a number of patents in the area of perpetual inventory and specialized software for physical as well as online counting of inventory. RGIS manages inventory of clients through its revolutionary smart warehousing concept through which company utilizes tracking software so as to maintain count of the inventory in warehouses and in transportation throughout the world (RGIS, 2014a). The inventory positioning can be specifically pointed through RFID tags, which are attached to each consignment in transit as well as in-house inventory present in warehouses. Hence, the company provides complete visibility of the entire supply chain to clients. On the other hand, JDA Software offers clients the software, which helps to m anage entire supply chain. The company has been able to formulate innovative inventory management services like, inventory planning and scenario planning. JDA Software helps clients to manage inventory by producing relevant inventory through master production schedules, current inventory levels and materials requirement planning integration. It also uses scenario analysis to enable customers to predict appropriate inventory levels in current market scenarios. Thus, the