P and Q Inventory Management Systems Essay Example | Topics and Well Written Essays - 500 words

P and Q Inventory Management Systems - Essay Example The model also plays an important role in order to monitor the current ‘in-stock’ items and reduce the risk of ‘stock-out’ of the items (The McGraw-Hill Companies, 2011). The P system of inventory management possesses various similarities as well as dissimilarities to the Q system inventory model. The model is used to record the time in which the product or the item should be in stock and are ready to be employed. In this context, the monitoring and ordering processes are performed when the level of the items reduces to the minimum quantity. The items are ordered at certain intervals of time, for instance, in very specific day of a month or week. This process is often convenient while ordering a group of products at the same time (The McGraw-Hill Companies, 2011). According to the Q-system of inventory control, the order quantity of the items is fixed and the interval period of ordering depends on the level of reordering of the items. However, the reordering in the P-system is fixed and the quantity of ordering items varies in different review cycles. Continuous monitoring is speculated to be highly required in the Q-system of inventory control. On the other hand, the P-system of inventory control attempts to purchase inventory at a specified gap taking greater time for reviewing and recording the stocks in comparison to the Q system (Gopalakrishnan, 2004). Hence, the fundamental difference between the Q system and the P system can be identified as the treatment of highly demanded commodities (in case of Q system) and other goods (in case of P system). It has often been noted that inventory management not only reflects the efficiency of an organization in waste management or resource allocations but also exhibits its flexibility in dealing with alterations related to customer purchase behavior. As the process tends to operate to the coordination of

Management Article Example | Topics and Well Written Essays - 250 words - 2

Management - Article Example Techniques associated with training fall under two categories the first one being on-the-job method and lastly off-the-job method. On-the-job techniques include orientations, job rotation while the ones relating to off the job are lectures and conferences (Griffin, 395). Considering the fact that I am a new employee, orientation focusing on the mission, rules, regulations as well as a comprehensive outline of my responsibilities will enhance the performance of my present job. Coupled with the interactive nature of orientation is demonstration where the leader to whom I report to illustrates the use of both the tools and equipments necessary in the performance of my roles (Griffin, 401). Job rotation that involves changing duties is a training aspect that will grow my skill set in a series of tasks thereby improving on my efficiency and increasing my knowledge base. Moving on to the off-the-job training methods, lectures that integrate power point presentations enhance the understanding of important topics and provide an opportunity to ask questions that maybe instrumental in the practical environment (Griffin, 393). Conferences and discussions provide relevant information in an equal measure. In both, experienced experts are able to convey information on various ways of minimizing risks while performing duties effectively. This will go a long way in enabling me to solve challenges and meet the expectations of my job performance. The benefits of training in the job environment are substantial because training increase the morale of workers, reduces supervision and minimizes errors that may hamper smooth operations. Other than increasing efficiency, which translates to higher productivity, training offers an opportunity for career growth and