Need for Inventory Management - Why do Companies hold Inventories?

Inventory is a necessary evil that every organization would have to maintain for various purposes. Optimum inventory management is the goal of every inventory planner. Over inventory or under inventory both cause financial impact and health of the business as well as effect business opportunities.Inventory holding is resorted to by organizations as hedge against various external and internal factors,...

Inventory Management Concepts

Inventory management and supply chain management are the backbone of any business operations. With the development of technology and availability of process driven software applications, inventory management has undergone revolutionary changes. In the last decade or so we have seen adaptation of enhanced customer service concept on the part of the manufacturers agreeing to manage and...

Inventory Management

In any business or organization, all functions are interlinked and connected to each other and are often overlapping. Some key aspects like supply chain management, logistics and inventory form the backbone of the business delivery function. Therefore these functions are extremely important to marketing managers as well as finance controllers.Inventory management is a very important function that...

Growth and Historical Evaluation of ERP

Use of computer systems is a post second world war phenomenon. The first working computer was developed by two scientists at University of Manchester, UK. However, commercial applications of computer commenced during 1960s.Pre ERP systemsIn the sixties, computers were bulky, noisy and without the facility of standard operating systems. The organizations used to develop computerized systems that...

Enterprise Resource Planning (ERP)

There are various ways in defining an Enterprise resource Planning System. This is how it has been defined by American Inventory and Production Control System (APICS) dictionary:“Enterprise Resource Planning: An accounting oriented information system for identifying and planning the enterprise-wide...

Covert and Public Service Advertising

As evident from the word “covert”, this type of advertising aims to integrate the advertising with the non-promotional mediums. This practice is most-commonly found in films. For example, billboards of the products may be shown in the film for a prolonged period of time. Or a character in the film may mention the name of the brand again and again. At other times the director may present the...

Outdoor Advertising

Outdoor advertising communicates the message to the general public through highway billboards, transit posters and so on. Outdoor advertising is a very important form of advertising as the ads are huge and are visible to one and all. The important part of the advertising is that the message to be delivered should be crisp and to the point. Though images can be used, but they cannot be used...

Broadcast Advertising

Generally speaking, broadcast advertising is radio, television, and Internet advertising. The commercials aired on radio and televisions are an essential part of broadcast advertising.The broadcast media like radio and television reaches a wider audience as opposed to the print media. The radio...

Print Advertising

Print advertising is a widely used form of advertising. These advertisements appear in newspapers or magazines and are sometimes included as brochures or fliers. Anything written in the print media to grab the attention of the specific target audience comes under the purview of print advertising.People who read newspapers or other publications have a tendency to browse the print ads that they...

Classification of Advertising

Advertising is the promotion of a company’s products and services though different mediums to increase the sales of the product and services. It works by making the customer aware of the product and by focusing on customer’s need to buy the product. Globally, advertising has become an essential part...