Inventory Management Optimization of Pla Ralon Nikhom Songkhro Community Enterprise Group

Abstract

At present, the market situation is fiercely competitive in business. From such a situation, it may have a severe impact on product manufacturers. This is because customers can choose to use the services of manufacturers that can respond to their needs efficiently. And a wide variety of customers with high demand and bargaining power leads to pressure on prices. Product manufacturers have to adapt to strong competition and must bear the cost of management from adapting for the survival of the organization. The efficient inventory management is an important part of managing the operating costs of the organization. Therefore, this research aims to study the inventory management process and reduce the cost of inventory management of Pla Ralon Nikhom Songkhro community enterprises. In inventory management of Pla Ralon Nikhom Songkhro community enterprises by collecting unstructured data from interviews. Which gathered information, financial and accounting documents of community enterprises to calculate inventory prioritization according to ABC Analysis. Inventory is categorized into groups according to the value of the products circulating during the year into 3 groups, namely Group A, Group B and Group C, in order of importance. Classifying inventory into groups allows inventory managers and community enterprises to prioritize inventory differently. In order to bring the results of inventory grouping according to ABC Analysis can define policy to inventory control for each group. And save a time to control inventory and also save money that over of necessary of community enterprises to create maximum benefits.