Improvement of Inventory Management System at Chris Sports - SM City Lucena
Area of Research
Abstract
ChrisSports,locatedatSMCityLucena,justliketheotherbranchesisaknown
sportinggoods storeinthecountrywithundeniablegrowingdemandfortheproductsitsells.
Overtheyearsofoperatingthebusiness,thesameprocessofinventorymanagementisbeing
implemented.Consideringthesaidgrowingdemand,theresearchershavefoundoutthatthe
existinginventorymanagementcan’tkeepupwiththesituation.Throughaseriesofobservations
andanalyses,theresearchersthoughtofimprovingitsmanualinventorymanagementsystem.
Thestudyisconsideredasaresearchanddevelopmenttypeofstudy.Tocomeupwith
theimprovedinventorymanagementsystem,theresearchersfirstgathereddatathroughactual
observationandconductedinterviews.Tofullydevelopthesystem,theresearchersmadeuseof
differentknowledgetheyhaveacquired,theresearchersalsoapplieddifferenttools,theoriesand
methods,anduseddifferentapproachesandtechniques.Reorderpointplaysavitalroleinthe
developmentofthestudyspecificallyintheimprovementoftheinventorymanagementsystem
atChrisSports-SMCityLucena,usingthistoolhashelpedtheresearchersandthebusinessto
determinethebesttimetoorder.Thereorderpointhashelpedmaintaintheinventoryatdesired
level.TheuseofABCanalysisasacategorizationtechniquehasalsohelpedtheresearchersand
thebusinesstomanageinventorywitheaseandpreventtheoccurrenceofmatterssuchaswrong
locationofstocksandlostorders.AndtheuseofEconomicOrderQuantity(EOQ)madethe
researcherstodeterminethebestquantityofmaterialstoorderonitsmostcheapest.
Keywords
InventoryManagement
ABCAnalysis
EconomicOrderQuantity
ReorderPoint
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APPLIED TECHNOLOGY, SCIENCE , INDUSTRYBUSINESS, ECONOMICS AND INDUSTRY 4.0 RESEARCHBUSINESS, INDUSTRY, LIVELIHOOD and FOOD SECURITYCOMMUNITY DEVELOPMENT and SOCIAL SUSTAINABILITYEDUCATION 4.0 AND WORKFORCE 4.0 RESEARCHEDUCATION and EDUCATION MANAGEMENTENVIRONMENTAL CONSERVATION, PROTECTION and DEVELOPMENTENVIRONMENTAL PROTECTION, DEVELOPMENT, AND CONSERVATION RESEARCHHEALTH and WELLNESS PROGRAM DEVELOPMENTHEALTH RESEARCH, DEVELOPMENT, INNOVATION AND EXTENSIONHUMANITIES, ARTS, CULTURE and TOURISMLEGAL, LAW ENFORCEMENT AND CRIMINOLOGY RESEARCHPOLITICS, SOCIETY, AND CULTURE RESEARCHTECHNOLOGY, ENGINEERING, AND INDUSTRY 4.0 RESEARCH