Post Module Assignment. Business & Marketing Coursework

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Question 2
Company profile
Our company is well known as Abracon LLC. It was founded in the year 1992. The Company is headquartered in Spicewood in Texas and it is a private venture that is a leading global manufacturer. It specializes in the manufacture of synchronization facilities, electromechanical timing, power and energy, RF solutions as well as connectivity facilities such as antennas, capacitors and thermometers (Lyalin, et al, nd). The company is an SME with employees ranging from 51 to 200. It is a private venture operating in an electrical and/or electronic manufacturing industry.
To be specific, they make products such as Antennas, LAN transformers, Capacitors, Resonators, RF inductors, Thermistors, Bluetooth modules among many other items which are currently used widely in the whole world. Abracon LLC is a company just like any other company and encounters operational successes and difficulties from its environment which comprises of competitors among other factors.
The supply of stock currently produced in the company is meeting the demand of the market hence making the company earn great returns over years. This is a clear indicator that the Abracon LLC is trading well.
The company since its foundation has been of great help in ensuring the world reaches its connectivity goals. It has facilitated engineers to change their ideas into many kinds of products that would transform or cater for opportunities in the future. Its existence is made applicable into various areas that comprise of networking, automotive, smart meter, connected lighting, internet of things and any form of wearable.
Inventory management
There are activities that should always be done in order to ensure the correct number of each stock item is maintained. All these have to do with the Inventory management. No company of course, will undertake Inventory management without a purpose. Our objective therefore, is mainly to provide continuous production, sales and consumer service levels at the minimum cost possible.
Lack of proper Inventory management can bring about losses. This is due to the fact that inventory is the largest current asset item in the balance sheet and failure to manage it properly can be disastrous as noted earlier (Gallino, et.al, 2819).
The success of Abracon LLC is not only based on the well-designed products but also in the inventory management strategies. The company identified the right balance of inventory in locations around the globe. This enabled them to control costs and at the same time meet consumer’s demands.
Something is clear in technology companies that inventory depreciate very fast. This brings in the idea of reducing the inventory, also cutting down on warehouse and make the suppliers start own competitions. When there is very little inventory to deal with, warehouse costs are reduced. This idea is one of the best because due to the highly competitive nature of industries, it is not advisable to keep a lot of stock by the manufacturers.
This means that aspects of forecasting must be put in place so as to accurately check on sales in order to have limited inventory because once there is a new product in the technology industry the old ones tend to fade away (Parpia, Ijaz & Gurdip, nd). The plan to get a central warehouse unit is beneficial to Abracon LLC. This leads to a small number of stock keeping units which make the forecasting accuracy better. Again, inventory management should be well managed to reduce on overproduction, underproduction and also possibilities of stock outs. Stock outs tend to cause the biggest alarm because they contribute no goods to meet instant demands from customers. Abracon LLC should focus on ensuring a balanced inventory management to hedge against disappointment of its customers globally.
Analysis of the Application of Technology
The technology that a company bears is an outcome of innovation and knowledge work applied that shows its technological innovation capabilities (Kummetz, et.al, nd). Abracon LLC can utilize Radio Frequency Identification Technology (RFID) in its inventory management. This is a form of technology which where data is captured by a reader through radio waves. The data captured is stored in database of a host computer where it can get analysed at a convenient time. RFID technology involves very little human intervention because of use of antennas and other RFID methods that utilize air waves to collect data and transfer it to the computers for analysis.
This is a technology almost equivalent but more advanced than barcoding...