Implementing an improved inventory control system in a small company: a case study

Abstract

The paper presents the implementation of an improved inventory management control system in a small company. The project took place at Trojan Mine, a company involved in mining mineral resources. Firstly, a conceptual framework for the design of an inventory control management system is developed. Secondly, a very effective user-friendly inventory control tool for determining the category A items was developed using EXCEL spreadsheet; a tool that is an asset to the company since it can be used in future. Finally, key performance indicators were also established to give benchmark to operations. The improved inventory control management system developed is found to offer improvement to the performance of the company since capital tied up in overstocking items of high annual usage value is released.

Keywords:

• Inventory management
• ABC analysis
• Inventory review system
• Key performance indicators
• Benchmarking