Report Essay Example | Topics and Well Written Essays - 2000 words - 5

Report - Essay Example These include; total quality management (TQM), product and process design, design flow, vendor management, and waste elimination. This report is based on existing observable evidence in the use of inventory systems in restaurants, and the resulting impact these systems have in improving efficiency. The conclusion made is that implementing this restaurant management system in this restaurant is feasible, but in order to realize the intended benefits employee training will most likely be required. Otherwise, improper use of the system may lead to incorrect inventory management and subsequent order placing. ... This allows for the business organization to obtain information on the sale levels of the individual products, and to determine the ideal interval for replenishing the stock after predefined stock levels are reached. Trail Stock Levels. Inventory management systems make it possible to tell the amount of stock that a business is left with after sales within a given period, and can start orders for items that are low in stock based on the level of currently stocked items. The advantage brought about by the efficiency of inventory management software is the ability to maintain stock at suitable levels, and in so doing maintain customer loyalty because repeat customers only frequent places where they can find the products they want. The inventory management system can be of great importance in the event of a sale's promotion, as it can detect items that are over-stocked, and that can be included in the promotion. In the event that the promotion breeds demand the products, the system can initiate and modify the product orders to match the demand. Inventory and Sales Reporting. Inventory management systems use merchandise movement reports to facilitate the location of revenues produced by the sale of specific products within a given time frame. From these reports, one can identify the undersold stock as well as make sales forecasts built on past performances. This helps the business in planning for the future as it can make decisions on how to continue stocking its inventory based on these reports. OUTCOMES AND ANALYSIS This report explores three areas of scrutiny. These include: 1. What are the potential advantages and disadvantages of an inventory management system? 2. How can the inventory management system be created for adopted by the restaurant? 3. What