Global Journal of Management and Business Research, E: Marketing, Volume 22 Issue 3

The Impact of Inconsistent Tracking on Inventory Management Case Study Societe Buns - Cameroon Dr. Eyong Ako Author: Department; Organisational Sciences University of Bamenda. e-mail: akorolly87@yahoo.com Abstract- As a result of a rapid increase in inventory management and the time required to manage inventory management, many organizations have resulted to the tracking of inventory. Due to this, there should be some means of accurately tracking inventory. Due to this, there should be some means of accurately tracking inventory in order to ease the management of inventory. Some of the most useful methods of tracking inventory are barcodes where every item carries a label that gives information on the items, stock books and the Kanban system. It is against this background that the main endeavour of this project is to investigate if inconsistent tracking has an impact of inventory management with specific objective being to find out the impact of documentation on inventory management. From these objectives the following questions were asked; what impact does inconsistent tracking have on inventory management. The theories adapted to back this work were; The Just In Time theory by Taiichi Ohno (1984), The Wilson’s Model for Inventory Management by R.H Wilson (1934) and the Theory of Constraints by Dr Eliyah Goldrath (1984). The methods of data collection included primary and secondary sources. Conclusions were drawn from the data collected and recommendations were made such as making proper use of the available tracking software. Keywords: inconsistent, tracking, inventory and inventory management. I. I ntroduction he lifeblood of any business is getting your products to your customers on time. And according to (Abby J. 2022), staying on top of your inventory and controlling it effectively and efficiently helps you meet demand and satisfy customers. Inventory control is a daunting task. The process and results impact every aspect of your business. According to (L. Tundura al. 2016), Inventory control is one of the essential management areas in organizations because it plays an internal role in the organizations such as facilitation of continuous production, smoothening of operations and enhancement of customer service. Inventory control is an integral aspect of the inventory management process (Abby J. 2020). It is the daily routine of managing stock within the warehouse. Inventory control activities include receiving, storing and transferring stock, as well as tracking and fulfilling orders and returns. FIFO (First in, First out) – The oldest inventory is used first to fulfill customer orders. LIFO (Last in, First out) – The inventory received most recently is used to fulfill customer orders. FEFO (First expiring, First out) –The inventory closest to its expiration date is used to fulfill customer orders. b) Statement Problem Inventory tracking is very vital in most organizations as it helps in enhancing business operations. Tracking and traceability should be easily done but that is not always the case. Taking SOCIETE BUNS as case study, some project directors are adamant to change and do not follow the company’s stated procedures for inventory management making tracking difficult. Also, the fact that most store keepers do not send all documents used at the sites back to the central store keeper makes inventory recording and tracking difficult. Base on the above challenges, the main reasons for carrying out this research was to investigate the impact of inconsistent tracking on inventory control and specifically we have-To find the impact of documentation on Inventory Management. − To investigate if inventory tracking software’s have an impact on inventory management. − To find out if coding has an impact on inventory management. II. L iterature R eview a) Theoretical Review Theories are assumptions formulated to better explain concepts. In the context of Inventory Management, we shall be expatiating on the theories mentioned in chapter one of this work. b) The Just in Time Theory by Taiichi Ohno (1984) Just in Time (JIT) is a Japanese management philosophy which has been applied in practice since the early 1970’s in many Japanese manufacturing organisations. It was first developed and perfected within the TOYOTA manufacturing plants by Taiichi Ohno as a means of meeting customer demand with minimum delays. T 1 Global Journal of Management and Business Research Volume XXII Issue III Version I Year 2022 ( ) E © 2022 Global Journals a) Some Common Techniques of Inventory Control