Title :
Design of an Inventory Order Management (IOM) system: A case study of Pak Yuen Tong Traditional Medicine Factory Ltd.
Author :
Yung, Spencer K C ; Tam, Migar M C ; Chu, K.F.
Author_Institution :
Dept. of Ind. & Syst., Hong Kong Polytech. Univ., Hong Kong, China
Abstract :
This paper articulates the concept of Inventory Order Management (IOM) as a model for company executives to improve stock utilization through effective information exchange No doubt that inventory acts as a critical parameter affecting cost and order fulfilling lead time of a company. Contradiction appears all the time between inventory cost and order fulfilling lead time In order to enhance competitive competence and balance inventory cost and order fulfilling lead time, IOM is a possible solution.
Keywords :
costing; inventory management; order processing; personnel; company executives; competitive competence; information exchange; inventory cost; inventory order management system; order fulfilling lead time; stock utilization; Companies; Copper; Manufacturing; Patents; Production; Raw materials; Consume unit; Inventory; Inventory Order management; Supply unit; repeating unit;
Conference_Titel :
Supply Chain Management and Information Systems (SCMIS), 2010 8th International Conference on
Conference_Location :
Hong Kong
Print_ISBN :
978-962-367-696-0
