Inventory Systems Summary

Inventory Systems Summary

Inventory Systems Summary

Learning Team A has come together and discussed this week’s team assignment to analyze, compare, and contrast four different inventory systems in which we are familiar with. The systems we have chosen to discuss are Advanced Tracking System, Just In Time Inventory Systems, Radio Frequency Identification (RFID) Inventory Tracking System and Speculative Buying System. In this paper we will give a brief summary of each system as well as a comparison which will provide the advantages and disadvantages of the four systems.

Advanced Tracking System

In today’s world most Inventory control systems are mainly used for tracking purposes of a company’s materials or products. When this system was not available companies could not easily see how many products they had readily available, so they needed to manually keep a count. With today’s technology we are able to use a small device to check how many products and in what location we have it available.

“The Advanced Tracking System (ATS) for Inventory is a complete system that operates standalone or as a front-end that interfaces with almost any company information system. It automates data collection and provides a fast and easy place to view critical inventory activity in real time.” (barcodesystem.com, 2010). ATS has become very popular in many organizations such as UPS, Medical Offices, Schools, Government Agencies and FedEx as they have helped these organizations with providing quicker data and information to their customers as well as been able to provide availability of their products to their customers online or by phone. With the ATS system it has helped with the boost of productivity, the improvement of customer service as well as provided more stability to organizations and their workflow. With ATS organizations are also able to provide quicker and more accurate inventory status on their products. Although there are many different types...