Wal-Mart Inventory Management Document
Aiming at the inventory problem of Wal-Mart, this paper introduces ABC classification theory, applies the advanced concept and basic principle of ABC classification theory, and tries to maximize the potential of Wal-Mart in combination with the market development, so as to promote the all-round development of Wal-Mart.
Keywords: inventory management; ABC classification; cost control
From the account information, inventory is an important part of the unit item in the balance sheet, accounting for a large proportion of the total current assets. Therefore, in the process of implementing inventory management, Wal-Mart must use extremely accurate inventory management methods to ensure the quality and efficiency of inventory management. In practical work, high-quality inventory management can not only ensure the normal operation of Wal-Mart's internal funds, but also effectively improve the utilization rate of Wal-Mart's funds, thus improving Wal-Mart's economic benefits. From this point of view, inventory management plays an extremely important role in the management of Wal-Mart in China, and will certainly play a more important role in the future development of Wal-Mart management in China.
Research background and present situation of 1
19th century, with the further development of western industrial economy, economic growth meets the requirements of inventory management, and the research on inventory theory will not increase, and gradually get attention and attention. In recent years, in China, scholars have made more and more research achievements, and more new research innovations are needed to meet the practical needs of Wal-Mart's inventory management. In 1990s, with the progress of science and technology and the deepening of production and inventory control, a new generation of management theory-Wal-Mart resource planning ERP came into being. In western countries, Wal-Mart's management history developed earlier and its system was relatively sound. Now they generally adopt tag system and ABC classification in inventory management. ABC classification was first put forward by Italian economist Pareto in19th century. From the research of inventory management theory in China, although the relevant departments in China have paid more attention to inventory management and all aspects of research work are being carried out in an orderly manner, the overall level is still difficult to reach the level of advanced countries in the world. The introduction of ABC classification theory has effectively improved the present situation of inventory management research in China. Miao Yan experts use ABC classification to set high and low inventory, thus effectively reducing the production of sluggish inventory. Cui Aiping combined the traditional ABC classification with fuzzy cluster analysis and applied it to inventory management, realizing the specific classification of ABC.
2 the meaning of inventory management
Inventory management mainly includes inventory information management and decision analysis, so as to effectively control inventory, thus achieving the ultimate goal of Wal-Mart and improving its economic benefits. Experts believe that inventory management is the comparison and process of supplier's inventory strategy and value chain analysis. One method is called reaction method, which is based on the needs of customers and promotes the delivery of products through some distribution channels. The second method is called planning method, which is formulated according to the demand of production and the nature of transportation and distribution of products in the middle of channels. There is a third way called hybrid method, which is the ability of logical reasoning. Among these two methods, the inventory management methods that must analyze and deal with the product and market environment are analyzed. The function of inventory management. In the process of Wal-Mart's production and operation, inventory mainly has the following functions: First, strengthening Wal-Mart's inventory management can effectively maintain the balance needed in Wal-Mart's production and operation. For Wal-Mart engaged in production and operation, the necessary inventory reserves are conducive to the sustainable development of Wal-Mart, enabling Wal-Mart to provide goods to the market at any time and meet the market demand. Secondly, strengthening Wal-Mart's inventory management is the result of fully considering the procurement cost, and it is also the need of the procurement cost itself. Wal-Mart usually determines the quantity of inventory goods by managing costs and benefits when choosing the procurement method and determining the quantity of inventory goods. Finally, strengthening Wal-Mart's inventory management can make Wal-Mart more handy in the process of coping with market changes. If Wal-Mart wants to achieve sustainable development and gain sufficient market competitiveness, its senior managers must conduct fixed-point inspections on the market, systematically analyze and judge the obtained data, determine the price of Wal-Mart products, predict its market sales prospects, occupy the market as quickly as possible, and seek the greatest economic benefits.
3 the necessity of adopting ABC classification
Wal-Mart's growing business needs, the traditional inventory management methods clearly exposed the shortcomings of the past, which obviously does not meet the requirements of modern inventory management. ABC classification adopts mathematical statistics method, and classifies all kinds of things and related factors into three categories: A, B and C according to different requirements of things or attributes or weights, and gives corresponding auxiliary management with different emphasis. Corresponding to inventory management, ABC classified management is a method to divide the inventory items occupied by funds into three levels: special inventory (Class A), general importance inventory (Class B) and inventory (Class C), and then manage and control the different levels respectively.
3. Advantages of1ABC classification. 1) savings. Greatly improve the management of Wal-Mart's inventory turnover rate, so as to reduce the pressure of capital flow, convert it into cash, reduce interest expenses, reduce costs, and save a lot of money and relatively preserved loan interest occupied by inventory. 2) Reduce the shortage. Minimize the inventory level and strive to improve the speed of correct inventory. Using ABC classification can minimize the shortage rate. At the same time, if there is sufficient inventory of Class C goods, Class B goods and shipping dates can be arranged, and reliable control parts can be centralized for processing, control and turnover, so that the inventory of such stocks can be found in time and corrected quickly.
3.2 Problems that should be paid attention to in implementing ABC classification. 1) The classification of ABC analysis is artificial, and the analysis objects are generally divided into three categories: A, B and C. 2) ABC analysis mainly realizes the key management of funds in the warehousing system, not the importance of the items themselves. 3)ABC classification is based on certain basic statistical data, which should be dynamically analyzed and adjusted at any time to obtain the maximum actual inventory results.
3.3 Control the inventory cost of Wal-Mart. 1) Do a good job in post division and strengthen storage control. Distinguish work responsibilities and establish inventory business; Be careful of owing money; Report the loss of goods in time and carefully. 2) Supervision and inspection. Establish relevant Wal-Mart, and regularly check the inventory and business personnel; Regularly check the implementation of the inventory business authorization system; Regularly check and implement the system of receiving, sending and storing inventory; Regularly check the implementation of the inventory handling system; Regularly check the implementation of inventory accounting system.
3.4 Realize the inventory information management of Wal-Mart. 1) adopts barcode technology. The application of barcode technology solves the problems of data entry and data collection, improves the accuracy and efficiency of inventory management, and provides effective technical support for the bottleneck problem of modern commodity circulation and supply chain management. 2) Establish a computer inventory management system that adapts to the development. According to the unified accounting system of accounting, timely, accurate and complete inventory accounting can deepen the understanding of Wal-Mart's information dynamic inventory and improve the efficiency of inventory operation. On this basis, the inventory management method based on ABC classification theory is defined, and in view of the use and existing problems of this management method, the methods of side exposure and problem solving are put forward. In the future research and development of Wal-Mart's inventory management in China, we must give full play to the role of information technology, keep up with the pace of the times, and promote the upgrading of Wal-Mart's inventory management from the perspective of networking, informationization and scientificity, so as to effectively reduce the operating costs of Wal-Mart. The purpose of strengthening Wal-Mart's inventory management is to reduce the comprehensive cost in its production and operation, so as to realize the long-term, stable and sustainable development of Wal-Mart, promote the optimization and improvement of its inventory structure, and further improve the efficiency and quality of its inventory investment. In the future development of Wal-Mart, it is necessary to strengthen the supervision mechanism of Wal-Mart's inventory management, so as to improve the operating efficiency of Wal-Mart.