Free Essay On Big Data Management Technologies

Type of paper: Essay

Topic: Company, Management, Inventory, Business, Ford Motor, Technology, Information, Time

Pages: 4

Words: 1100

Published: 2021/02/26

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Inventory Management

Knowing what you have and where it is located in a business is important for purposes of business efficiency. Inventory management is one of the strategies that businesses and other non-business entities can apply to determine resources available and where they are located as well as their conditions within a specific period of time (Tempelmeier, 17). The corpus of inventory management basically involves efforts directed towards controlling and overseeing processes of ordering, storage and utilization various materials that an organization intends to use in the production of products and services. Inventory management also entails overseeing and controlling the amount of finished products and services meant to be released to the overall consumers (Muller, 9). Business research indicates that organizational inventories are important assets as they indicate the level of investment within a company until items are sold or used (Tempelmeier, 18). There are various technologies that have been applied in different business environments for purposes of keeping inventories. This paper focuses on a discussion of examples of technologies applied by Ford Motors Company and Toyota Motors Company to manage their inventories. It will also highlight the various benefits that have been associated with the application of the inventory management technologies in the two companies.

Inventory Management at Ford Motors Company

Being one of the Multinational Companies in the automotive industry, efficient operational systems have been the core strategies that have enhance Ford’s competitive advantage (Laudon & Jane, 11). One of the strategies that have been applied to facilitate efficient operations at Ford Motors Company is application of modern technologies to perform inventory management. Ford has applied two main inventory management techniques that have seen its success over the last ten years. Economists have argued that the application of these technologies pulled Ford back from the brink (Laudon & Jane, 11), they include:

Big data basically means large amounts of information that cannot be analyzed through the use of traditional methods. Technological advancements have improved the manner through with automotive industry dealers analyze and apply certain aspects of information. The idea to apply big data management technologies at Ford Motors Company began in 2007 with the introduction of Allan Mullaly (Laudon & Jane, 13). Through his leadership, the company focused on creating an in-house Smart Inventory Management System (SIMS), estimated to be around $100 million. This technology was meant to provide dealers with appropriate data that they could apply to predict they type of vehicles preferred by clients or consumers before accessing the lot in the company. This inventory management technology has been beneficial to the company as it provides the company with adequate time to produce and ship cars to its clients. The success of SIMS was felt in 2009 when the company realized that most of its dealers saved at least 90% per vehicle sold (Laudon & Jane, 13). The company has also recorded that the introduction of the Smart Inventory Management System has reduced time lots, characterized by quicker inventory turnover. Through the Prototype Optimization Model, the company has also been in a position to improve efficiency at its manufacturing floors. This model is a computer program that analyzes data, providing optimal number of could be tested at the assembly floor at a particular period of time.

Implementation of Wireless Tracking at its Assembly Plants

Ford being large automotive manufacturing company had been faced by a challenge of misplaced items, which could disrupt its assembly processes within its 35 plants located in North America. The installation of a Wireless Tracking System, the Real-Time Locating System (RTLS), has enhanced inventory tracking efforts within the company. This is mainly achieved through low power radio frequency that enables the company to track inventory located within 10 feet of their actual location (Laudon & Jane, 16). The other benefit of implementing Real-Time Locating System within the Company has been associated with the fact that it allows workers within the assembly plants to make in relation to fresh supplies. This is due to the fact that it enables workers to determine the exact materials required and how to access it. On the other hand, Real-Time Locating System has enhanced efforts of Ford Motors Company in Tracking of raw materials (Laudon & Jane, 19). This has been mainly achieved by the fact that the technology RTLS facilitates the tracking of each item within located in shipment containers, especially those that are affixed with the RTLS wireless tags, containing a barcode indicating the identification number of the products.
Inventory Management Technologies at Amzon.com Inc.
This is one of the global companies that have dominated online business or e-commerce over the last 20 years (www.rfgen.com). The company focuses on provision of internet based retailing services to clients in various parts of the globe. It is also among the companies that have employed the use of technology in the process of managing their inventories. This is mainly as a result of the fact that it controls and manages a large quantity of goods, from various suppliers and wholesale dealers. The goods are kept in its stores and shipped to clients upon request; this company has implemented inventory management technologies such as:

Use of Hand Held Barcode Scanners Logs

The company manages large volumes of consumer goods and products especially during holidays (www.rfgen.com). However, to ensure that that its stores are equipped with all necessary items that consumer may request, the company has a policy indicating that there should be stock taking of all new arrivals. This process begins by scanning all new items using the hand held barcode scanners logs for purposes of colleting and recording data i.e. the quantity, size and variety of products (www.rfgen.com). The use of hand-held barcode scanning logs has been associated with various advantages in Amazon.com Inc. To begin with, it has facilitated sorting process i.e. sorting goods and products in accordance with their sizes, uses et cetera. On the other hand, the use of barcode scanner logs to collect data concerning certain goods and materials has enabled the company to avoid errors associated with sending clients wrong products (www.rfgen.com). Moreover, the use of hand-held barcode scanning logs has eliminated challenging emerging as a result of under-stocking or overstocking within Amazon.com Inc.
Conclusion

Work Cited

"Amazon's Inventory Management Secrets." RFgen Software | Mobile Data Collection Software Warehouse Automation. N.p., n.d. Web. 17 Apr. 2015. <http://www.rfgen.com/blog/bid/246924/Amazon-s-inventory-management-secrets>.
Laudon, Kenneth C., and Jane Price Laudon. Essentials of management information systems. Upper Saddle River: Pearson, 2011.
Muller, Max. Essentials of inventory management. AMACOM Div American Mgmt Assn, 2011.
Tempelmeier, Horst. Inventory management in supply networks: problems, models, solutions. Norderstedt: Books on Demand, 2011.

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WePapers. (2021, February, 26) Free Essay On Big Data Management Technologies. Retrieved May 11, 2021, from https://www.wepapers.com/samples/free-essay-on-big-data-management-technologies/
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Free Essay On Big Data Management Technologies. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/free-essay-on-big-data-management-technologies/. Published Feb 26, 2021. Accessed May 11, 2021.
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