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Resolution of Inventory Management Problem

Resolution of Inventory Management Problem. SYSM 6309 Advanced Requirements Engineering By: Ben Smiley. Background. Local company with unique business model Operating in the electronic component space Solicited help from UTD consulting club for their inventory management problem.

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Resolution of Inventory Management Problem

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  1. Resolution of Inventory Management Problem SYSM 6309 Advanced Requirements Engineering By: Ben Smiley

  2. Background • Local company with unique business model • Operating in the electronic component space • Solicited help from UTD consulting club for their inventory management problem

  3. Problem Description • Inventory consists of hard to find & obsolete parts • High margin business • Extremely slow inventory turnover • Inventory has become unmanageable

  4. Problem Description Cont. • Company is in transition between small to mid sized • Outgrowing their processes and tools • Able to handle 20% of unsolicited sales requests due to problems in inventory mgmt.

  5. Business Cost of Problem • Current annual sales are approx. 6.2M • Potential annual sales are approx. 31.3M

  6. Consultation Process • 1) Conduct interview with reps from all depts. a) Develop understanding of existing process b) Identify pain points for all depts. • 2) Develop process mapping • 3) Consolidate inputs into problem definition. • 4) Prioritize problems by severity • 5) Write requirements to address problems • 6) Present to stakeholders for feedback • 7) Modify requirements as required

  7. Preliminary Findings • Current software system designed Ad-hoc • Inadequate to current needs • Several groups have devised their own system using spreadsheets • User training on processes and software are inadequate • Serious interdepartmental communications issues • Sales • Production • Logistics • Customer Care • Procurement

  8. Next Steps • Develop Requirements for Inventory Mgt. Software • Investigate options • COTS • Internally developed customized solution • Evaluate strengths and weaknesses of options • Present final recommendations to senior management

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