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2. Solution
Therefore, to solve the company's problems, the solution was developed in Microsoft Office Excel . A customized inventory management tool specific to the company. This way, it is possible to record the inputs and outputs of products in the production processes. It also informs when and how much to buy a certain product, in addition to providing visual and useful analyses for the customer to support their decisions and is one of the practices to reduce costs in companies.
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To achieve this, the project followed the following steps.
2.1 Inventory Management: Data Collection and Processing
First, the distributor's product mix was collected, along with its sales history and current inventory. This information could be processed and analyzed for the next steps. The company then uses sales software to record all this information, which facilitates its processing and use for inventory management.
In addition to the data provided by the software, the client provided information about their suppliers, specifically their delivery time, as the business's inventory management may vary depending on this.
2.2 Inventory Management: Demand Study
For more assertive inventory management, the business demand was studied according to product categories and gases sold. In this way, it was possible to extract its average demand and standard deviation, that is, the error for more or less demand;
2.3 Inventory Management: Defining the Replenishment Model
Above all, when analyzing the products and their demand, the use of safety stock and replenishment point was defined . As well as, a replacement model, to meet the needs of lack of product in ready stock. And lack of knowledge of when to place a new order for a certain product;
2.4 Inventory Management: Tool Development
Therefore, to offer something visual and practical, a spreadsheet was developed where the client could register products, suppliers and employees and record the inputs and outputs of their products.
Therefore, when registering a product, the customer should mainly inform its demand category and supplier, as this data is used to calculate the Safety Stock and Resupply Point, which indicate the current state of the stock and when it should be replenished.
After all, a video tutorial was also created to maintain knowledge within the company in case any doubts arise or new employees join without knowledge of the production processes.
3. Results and benefits of inventory management
Today the company:
Know the amount of stock needed to meet your demand;
It has a basis for placing replacement orders with its suppliers;
And consequently, lower costs with unnecessary stock of some products;
It has a specific control tool that provides quick and visual analyses. For example, which products have stock alerts, what % of your stock is comfortable and even the current value of your stock.
