SIP_Final_Report_Hitansh

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Hitansh Shah
Inventory Management
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“Enhancing Inventory Management and Purchasing

Systems”
Weatherbond Buildcare Pvt. Ltd.
A PROJECT REPORT SUBMITTED AS A PART OF THE REQUIREMENTS

FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION
SUBMITTED BY
Hitansh Shah
PRN-23020441309
Division & Roll No. - F_20
Batch 2023-25
Under the Guidance of
Project Guide Project Mentor

Dr. M. K. Gandhi Dipesh Patel
Director
Weatherbond Buildcare
SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES (SIMS)

CONSTITUENT OF SYMBIOSIS INTERNATIONAL (DEEMED UNIVERSITY)
July 2024


DECLARATION
I hereby declare that the project entitled “Enhancing Inventory Management and
Purchasing Systems” submitted for the MBA Degree is my original work and the project
have not formed the basis for the award of any degree, associateship, fellowship or any
other similar titles.
Name of the student: Hitansh Shah
Signature of the Student:
Place: SIMS, Pune
Date: 15/7/24
CERTIFICATE

(Issued by Faculty mentor)
This is to certify that Hitansh Shah PRN NO: 23020441309 has completed his
project report on the topic “Enhancing Inventory Management and
Purchasing Systems” under my guidance.
Name of the faculty: Dr. M. K. Gandhi
Date:15/7/24

Acknowledgement
I am highly indebted to all of them who assisted and guided me in this project work.
Their help and encouragement proved very vital for the successful completion of my
internship project at Weatherbond Buildcare Pvt. Ltd.
I would like to start with my project supervisor, Mr. Dipesh Patel: for providing me with
invaluable support; detailed feedback, and constructive criticism, which allowed me to
grow in worthwhile ways. His experience and advice have proved invaluable in many
ways while taking this initiative to a comprehensive close.
I also want to convey my deepest gratitude to the entire team at Weatherbond
Buildcare Pvt. Ltd. for providing me this great opportunity for knowledge and
development. Their kind cooperation and readiness in sparing time for sharing
experience made this project a rich learning experience.
The research would also like to give special thanks to the teams of Supply Chain and
Procurement, which proved their high level of professionalism by the valuable insights
they shared into the intricacies of inventory management and procurement processes,
along with hands-on practical advice on these matters. Their constant help and
enthusiasm to assist were very essential for executing the tactics and proposals put
forth in this project.
I would also like to extend my acknowledgement to my faculty Mentor, Mr. M. K.
Gandhi, who has been a timely source of guidance and support throughout my
academics. Their mentorship has been of tremendous inspiration to me and helped in
shaping me into what I am today, as a person and as a professional.
Lastly, I would like to thank my family and friends for their continuous support and
encouragement during the completion of the project. Their belief in me provided
strength and motivation necessary to complete this project to the best of my abilities.
Thank you all for your contribution and support.
Table Of Contents
Executive Summary ................................................................................................................ 8

Introduction ............................................................................................................................. 9
Project Overview ................................................................................................................. 9
Company Background ......................................................................................................... 9
Objective ........................................................................................................................... 10
Project Timeline and Phases ............................................................................................. 10
Key Achievements ............................................................................................................. 10
Research Methodology ......................................................................................................... 10
Initial Analysis ..................................................................................................................... 11
System Design ................................................................................................................... 11
Implementation .................................................................................................................. 12
Evaluation .......................................................................................................................... 12
Literature Review .................................................................................................................. 13
Introduction to Inventory Management .............................................................................. 13
Detailed Solutions from L. C. Jhambh’s Book ................................................................... 15
Introduction to Procurement Systems ............................................................................... 16
Detailed Solutions from L. C. Jhambh’s Book ................................................................... 19
Results and Analysis ............................................................................................................. 20
Analysis of Current Systems ............................................................................................. 20
Stakeholder Interviews .................................................................................................. 20
Observational Studies.................................................................................................... 20
Data Analysis ................................................................................................................. 21
Findings ......................................................................................................................... 21
Suggestions and Recommendations ................................................................................. 27
Design of Improved Systems ............................................................................................ 28
Best Practices Review ................................................................................................... 28
System Specifications .................................................................................................... 29
Process Mapping ........................................................................................................... 29
Implementation .................................................................................................................. 29
System Setup ................................................................................................................ 29
Training Sessions .......................................................................................................... 30
Initial Rollout .................................................................................................................. 30
Evaluation .......................................................................................................................... 30
Performance Monitoring ................................................................................................ 30
Stakeholder Feedback ................................................................................................... 30
Continuous Improvement ............................................................................................... 31
Conclusion ............................................................................................................................ 31
Future Outlook ........................................................................ Error! Bookmark not defined.

References ............................................................................................................................ 32
Bibliography .......................................................................................................................... 32

Executive Summary
This project deals with the analysis and improvement of the inventory management and
purchasing systems of Weatherbond Buildcare Pvt. Ltd. The firm faced operational challenges
in its current systems, mainly inventory inaccuracies, inefficiencies in stock levels, and
bottlenecks in material handling. These issues are resolved to tackle the smoothing process of
inventory, reduce costs, and improve the efficiency of the whole supply chain. The project
involved an in-depth analysis of the prevailing systems, identification of basic inefficiencies,
and putting in place a new inventory management system and an integrated purchasing system.
Results were massive in operational efficiency, cost savings, and enhanced competitive
advantage for the company.
This project had been divided into four phases—from April 1, 2024, to May 27, 2024—initial
analysis, system design, implementation, and staff training. Critical areas that needed
improvement, identified during the analysis phase, were better tracking of inventory levels,
optimization of plant layout, and integration of purchasing-related processes into inventory
management.
In the design phase, work focused on developing a standard for a new inventory management
system that would include world-class best practices in lean manufacturing, Just-In-Time
inventory principles, and state-of-the-art ERP systems. The implementation included setting up
the new system, training of staff, and resultant changes and fine-tuning according to initial
feedback and performance data. There was a phase for staff training to make sure all relevant
workers were trained properly regarding new procedures and associated systems.
Overall, this project basically met its objectives concerning the reduction of inventory
inaccuracies (about 30%), optimization of stock levels, and finally, it reduces materials
handling bottlenecks. These improvements resulted in huge cost savings and returned the
company to a very competitive position in this market.

Introduction
Project Overview
Inventory management and purchasing systems are the very essence of any manufacturing
organization. Effectiveness in handling these systems impacts markedly on the running
productivity, expense configuration, and whole effectiveness of any company. Weatherbond
Buildcare Pvt. Ltd. recognized the need for enhancing its inventory and purchasing systems to
tackle inefficiencies and support its growth objectives.
This project focused on conducting a complete analysis of current systems at the company,
identifying key inefficiencies, and implementing a new inventory management system coupled
with an integrated purchasing system. The plant layout redesign was part of the project to
identify bottlenecks in the layout and improve material flow. Thus, the project aimed at
reducing costs and improving overall supply chain competency through better inventory
processes.
Company Background
Weatherbond Buildcare Pvt. Ltd. is one of the most leading construction manufacturers dealing
with building care products. The company has emerged as one of the prime movers in the
market, proven for its modern produces and dedication to quality. Having a strong
manufacturing facility in the Sanand region of Gujarat, the company Weatherbond Buildcare
Pvt. Ltd. supplies its products to almost all types of clients throughout the country. Even after
achieving so much in the industry, the company came across some major problems while
handling its inventory and purchasing systems properly, thus demanding this project.
It has a myriad of building care products, sealants, adhesives, waterproofing solutions,

protective coatings, and others ensuring durability and longevity to works. Hence, inventory
management becomes a very critical function for the company.
Weatherbond Buildcare Pvt. Ltd. comes with a fully equipped, state-of-the-art manufacturing
facility with ultra-modern machinery and technology. This facility is designed to produce in
large volumes and thus handle a wide range of products. Despite the advanced infrastructure,
this company was not able to maintain optimum inventory levels at any given point in time
because there were either overstock situations or out-of-stock conditions, both detrimental to
operational efficiency and costs.
The company's supply chain is very complicated, involving several suppliers, many
manufacturing processes, and a good number of distribution channels. Efficient administration

of the supply chain is important to ensure that goods are delivered to the customer in good
timing and of high quality to maximize customer satisfaction. This project sought to address
these challenges through the implementation of a new inventory management system and an
integrated purchasing system to improve the efficiency of the supply chain.
Objective
The other major objectives of this project were:
 To analyse the existing inventory management system and to point out areas of
inefficiency
 To evaluate the plant layout and its impact on the flow of inventory
 To design and apply an improved inventory management system
 Integration of a new purchasing system that would go in tandem with improvements in
the inventory management
 Conduct training of staff on new procedures to assure smooth transference and
transition.
These objectives were framed to be relevant in critical challenges faced by Weatherbond

Buildcare Pvt. Ltd. on much fronts in handling its inventory and purchases. The project aims
at enhancing overall operational efficiency, reducing costs, and improving the competitive
stand of the company in the market by achieving the laid down objectives.
Project Timeline and Phases

The overall timeline of this project was from April 1, 2024, to May 27, 2024. It passed through
different phases of initial analysis, system design, implementation, and staff training. Critical
areas of improvement in the existing process that came out during the analysis phase included
better inventory level tracking, optimizing the plant layout, and integrating the purchasing
process with inventory management, among others.
Key Achievements
It has returned enormous operational efficiency gains to the project, which includes 30%
inventory reduction, cost savings, and overall supply chain efficiency. This constitutes a
reduction in inaccuracies, optimization of stock levels, bottlenecks in materials handling, and
a better rank of the company's modest position across marketplaces.
Research Methodology
The methodology applied to this project is applied research, focusing on practical application
and improvement. The duration taken to complete this project was eight weeks—from 1st April
2024 to 27th May 2024. Data collection included interviews with key stakeholders,
observation, and analysis of existing inventory and purchasing data. The sample size comprised

data from the last 12 months of inventory transactions and purchasing orders. The tools used
in data analysis included reports from the ERP system, time-motion studies, Pareto analysis,
and SWOT analysis
Initial Analysis
This was followed by an analysis phase, including interviews with key stakeholders,
observation of the current inventory management and purchasing processes, and the analysis
of existing inventory and purchasing data. The objective was to gather insights, identify pain
points, and pinpoint areas of inefficiency.
1. Stakeholders Interviews: Interviews with key stakeholders, that are managers,

supervisors, and all those employees involved in inventory management and
purchasing, will let one understand their viewpoints, recognize agony points, and get
insights on current processes.
2. Observational Studies: The present inventory management and purchasing process
were observed to identify the inefficiencies and bottlenecks therein. This involved
shadowing employees, mapping out workflows, and documenting current practices.
3. Analysis of Data: The analysis of the current inventory and purchasing data in the ERP
system for any patterns and trends. This step included reviewing the historic records of
inventory levels, events of stock-outs, overstock, and purchase orders for any red flags.
System Design
In the system design phase, a new inventory management system was to be designed and
integrated with the purchasing system. This phase would address best practices review, system
specification development, and KPI definitions.
1. Best Practices Review: The best practice review in inventory management and
purchasing, consisting of lean manufacturing, Just-In-Time inventory principles, and
state-of-the-art ERP systems, should include, among others, a study of industry
standards and benchmarking against frontrunners in business and case studies suitable
for application in that regard.
2. System Development—A state-of-the-art inventory management system designed in
accordance with best practices and incorporating taught improvements during the
previous phases. This phase also includes developing system specifications, creating
process maps, and defining KPIs for success monitoring.
3. Integration Planning: Devise a plan to integrate the new inventory management system
with the purchasing system. This required defining data flows and integration points,
and developing a phased implementation plan.

Implementation
This was followed by an implementation stage where the new inventory management system
was set up based on feedback and initial performance data, the necessary trainings given to the
staff, and needful adjustments done.
1. System Setups: Setting up the new inventory management system with configuration
of the ERP system and implementation of new procedures in the ERP. This involved
installing software, configuration of its modules, and setting of user roles and
permissions.
2. Training sessions: There was a need for training to make the staff familiar with the new
system and procedures. This involved developing relevant material, conducting
workshops, and actual hands-on training sessions.
3. Preliminary Rollout: Roll out the new approach in a pilot phase, garner feedback, and
make essential corrections based on preliminary performance data. This entailed the
following components: system performance monitoring, problem fixing, and process
fine-tuning.
Evaluation
The evaluation phase concerned the monitoring of the performance of the new inventory
management system and purchasing system, portraying feedback from stakeholders, and
making further adjustments if need be.
Performance Monitoring: Monitoring of the performance of the new inventory management

and purchasing systems to achieve the desired outcomes. It includes the tracking of KPIs,
regular audits, and stakeholder feedback.
Stakeholder Feedback: Several follow-up interviews were conducted with the key stakeholders
to obtain feedback and highlight issues. This included generating qualitative data, processing
feedback, and making adjustments.
Continuous Improvement: Implementing additional changes based on performance data and

stakeholder feedback. This included process fine-tuning, procedure updating, and conducting
ongoing training.

Literature Review
Introduction to Inventory Management
Inventory management refers to the monitoring of items stocked in a company; this is an

integral part of the supply chain management. It refers to receipt, storage, issuing to users, and
accounting for items appearing in the inventory of an organization apart from the procedural
aspect of ordering raw materials, components, and goods that are processed. A company with
efficient inventory management policies always maintains the optimum quantity of stock to
meet the demand of consumers without facing problems associated with overstock or
understock.
Definition of Inventory
Products and supplies stored by a firm for the ultimate purpose of using up, manufacturing or
re-selling are generally referred to as inventory. Since it is one of the largest sources of revenue
generation and subsequently profitability to the shareholders of the firm, the inventory
represents one of the most important assets of a firm.
Types of Inventory
1. Raw materials: To produce products, a company needs certain basic raw inputs.
Products such as steel, plastic, and wood that are transformed into final goods in the
course of the manufacturing process come under the inventory of raw materials.
2. Work-In-Progress: In this group come all the products in the process of manufacture
but are incomplete. WIP is unfinished goods that are partly processed and are still on
the production line.
3. Finished Goods: These goods have processed manufacturing and are ready to be sold
to the customers. Finished goods inventory is highly essential as it comprises those
products which a company has available to sell to its customers.
4. Maintenance, Repair, and Operations Supplies: Such items never find their place in the
final product; instead, they are consumed during the manufacturing process. Some
examples include office supplies, lubricants, and cleaning agents.
5. Packing Materials: These are materials used for both the packing and protection of
goods during transportation and storage. Examples include boxes, bubble wrap, and
tape.
Problems Faced in Inventory Management

1. Inventory management has a number of challenges that companies or businesses have
to contend with to remain efficient and profitable. Some of the basic issues include:

2. Overstocking: Too much stock is tied up in inventory, which not only represents assets
but also brings with it extra storage, insurance, and obsolescence costs. Overstocking
can be a function of either inaccurate demand forecasting or poor purchasing practices.
3. Understocking: Low inventory levels can pnt to stock-out situations and cause lost
sales, customer dissatisfaction, and lost market share. Understocking may be due to
inadquate demand forecasting or disruptions in the supply chains.
4. Inaccurate Inventory: Huge discrepancy between the quantity of real-time inventory
and the amount recorded may result in immense opertion issues. The whereabouts of
inaccuracies may be grounded on faults while entering data, theft, mismangement of
inventory records, among others.
5. High Holding Costs: Large inventories entail that there are holding costs connected
with items such as warehusing, insurance, and taxes. High holding costs reduce
company profitability and tie up resources better deplyed elsewhere.
6. Obsolescence: The wrong inventory becomes obsolete and unsalable, resulting in
losses. Obsolscence is quite serious in businesses that undergo rapid technological or
fashion changes.
7. Poor Order Fill Mangement: Effective order fill management minimizes delays,
backorders, and too high operational costs of orders. Inefficiency in this area could be
a result of weak systems or procedures for monitoring and filling orders.
8. Demand Variability: Customer demands may change and cause a little hassle while
keeping the perfect levels of inventory at their disposal. Demand variability forces the
company to be dynamic and responsive in practices related to the management of
inventory.
9. Supply Chain Disruptions: The supply chain may be impacted by external factors such
as natural disasters, unstable political conditions, or any problem with suppliers. This
would impact the lead time and availability of inventory.
Solution to Inventory Management Problems

Certain strategies and good practices can be adopted by a business to solve all challenges in
inventory management. Several of them have been informed by the book by L. C. Jhambh and
other industrial standards, such as:
1. Forecasting of Customer Demand Accurately: State-of-the-art methods and tools of

forecasting techniques can help businesses estimate demand from customers more
analytically. It would include the analysis of sales history, market trends, and seasonal
patterns to make the right inventory decisions.
2. Just-In-Time method of Inventory The aims of the JIT record system are to reduce levels
of inventory by aligning orders from suppliers directly with production schedules. Such
a strategy has the least holding costs and minimizes risks due to obsolescence.
3. Computerized inventory management systems: An ERP, Enterprise Resource Planning,
and other automated methods bring real-time insight into inventory levels, allowing
better tracking of inventory and minimizing human errors. These systems can also be
integrated with other business functions for a holistic approach.

4. ABC Analysis: This is classifying inventory into three categories, A, B, and C, on the
basis of importance and the rate at which they are used. Items in Category A are of the
highest value and should be kept under tight control, whereas items in Category C are
the least important.
5. Cycle Counting: Recurring count of a subset of inventory items on a rotating basis helps
to maintain inventory accuracy without taking physical inventory counts in their
entirety. Through this process, variances can be detected early and appropriate actions
taken to correct them.
6. Safety Stock: Having a buffer standard of key objects may just be enough to avoid stock
outs resulting from demand variations or supply chain disruptions. The safety stock
should be arrived at by considering the variance in demand and lead times.
7. VMI (Vendor-Managed Inventory): In a VMI arrangement, manufactured goods
inventory levels at the customer's location are controlled by the sellers. This could
further increase inventory turnover rates and put less pressure on the customer's
inventory management processes.
8. Lean Inventory Practices: Adopting the lean philosophy will assist in the elimination of
waste models and enhance effectiveness in inventory management. Lean standards
focus on procedures smoothing, excess stock reduction, and value expansion to the
customer.
9. Inventory Turnover Ratio: This measure of fraction of the inventory proceedings kept
under monitoring—the cost of goods sold divided by average inventory—will tell how
efficiently the inventory is being run. The higher the turnover ratio, indicating that one's
inventory management is efficient, and subsequently, the better one's sales.
10. Cross-docking: A logistics practice where there is direct unloading of goods from
incoming shipments to outbound trucks, spending less time in storage, cross-docking
improves inventory flow and can reduce lead times.
11. Regular Audit and Review: Conducting regular audits and reviews of inventory
processes and systems also identify areas for improvement apart from proving
compliance with best practices. This will help prevent issues before blowing into big
problems.
12. Collaboration with Suppliers: Developing good relations with merchants aids
interaction, cuts down lead times, and enhances resilience in the supply chain. This may
involve collaborative planning and forecasting between the user and the suppliers to
align inventory levels with demand.
Detailed Solutions from L. C. Jhambh’s Book

L.C. Jhambh's book explicitly shows an approach toward inventory management by focusing
on some strategies and principles associated with it, including the following:
1. Scientific Inventory Control: Inventory control, according to Jhambh, should be based

on scientific methods and principles that are built on the use of mathematical models.
These allow aspects like optimum order-size and ordering-time decisions to be

mathematically optimized based on applying the Economic Order Quantity and Re-
Order Point techniques.
2. Inventory Valuation Methods: Books describe various stock estimation methods like
FIFO, LIFO, and weighted average cost. All these methods have implications for
financial reporting and taxation, hence inventory management decisions.
3. Stock Verification: The very clear view of Jhambh is that stock should be periodically
verified by actual counting and reconciliation with its records. This procedure ensures
accuracy and piracy detection at the very early stage.
4. Inventory Control Techniques: It gives information about various inventory control
techniques available, such as perpetual inventory systems, periodic inventory systems,
and barcoding and RFID technology for undertaking proper tracking.
5. Safety Stock Calculations: Jhambh has given elaborate details on how to compute the
security stock levels under conditions of necessity flexibility, lead times, and service
level conditions. Proper safety stock levels can alleviate the risk of running out of
stocks.
6. Lead Time Reduction: There is a focus on how these lead times can be best reduced
through better relationships with suppliers, improved forecasting, and process
streamlining in the book. The shorter the lead times, the more responsive the inventory
and the lesser carrying costs.
7. Inventory Cost Analysis: Jhambh discusses various costs associated with inventory,
such as vice bearing costs, ordering costs, and deficiency costs. Doing this analysis of
these different costs will help businesses make learned choices about inventory levels
and policies.
8. Demand-Driven Inventory Planning: He believes in demand-driven inventory planning;
according to this, inventory decisions are dictated or governed by customer demand,
not by forecasts. Therefore, the risk associated with overstocking or understocking
reduces.
9. Inventory Optimization Software: Jhambh suggests the latest inventory optimization
software that works with algorithms and analysis of data to decide upon the optimum
inventory levels and re-order points.
10. Integration with Other Business Functions: The book also covers needs for intgrating
inventory mangement with other corporate functions, including prduction, sales, and
finance. Thus, the whole approach will be oriented and improve general efficiency.
Introduction to Procurement Systems

Procurement systems, being one of the very important parts in supply chain administration,
manage the procurement of supplies or services necessary for the busness. An effective
procurement system helps reduce costs, deliver quality on time, and mantain good relations
with suppliers for an organization. Procurement systems overview: this section gives details on
their types, challenges, and solution procedures.
Definition of Procurement
Procurement is the act of finding, acquiring, and buying goods, services, or labor from anther
external source, usually involving a tendering or comptitive bidding process. It has three key
tasks: need analysis, supplier selection, and contract negtiation and management of
relationships with such suppliers.

Types of Procurement
1. Direct Procurement: Items directly related with prodction, such as raw materials,
components, tools, plant, and machinery used in manufacturing.
2. Indirect Procurement: Lastly, indirect procrement is the process of purchasing goods
and services unrelated to production but that support the business. Examples would
include IT equipment, faclities maintenance, office supplies.
3. Goods Procurement: Procurement of goods involves the buying of physical products
that can be held in inventory. Examples would include raw matrials, components, and
finished goods.
4. Services Procurement: This involves procuring intngible goods, which include services
such as consultation, marketing, and maintenance contracts.
5. Strategic Procurement: Building long-term relatonships with suppliers while making
sure that strategic sourcing decisions have an impact on the overall business goals of
the company.
6. Tactical Procurement: Activities covered under this include day-to-day purchasing
activities like placement of orders, maintaining the levels of inventory, and other
associated supplier queries.
Problems Faced in Procurement Systems

Procurement strategies meet various experiences that affect their effectiveness and success.
Some of the basic hindrances include the following :
1. Supplier Risk: High reliance on a few suppliers poses risks concerning supply chain
disruption, concerns regarding the quality of supplies, and price instability. This can be
overcome through diversification and strategic sourcing.
2. Cost Management: How to manage procurement costs is an intrinsic challenge. High
procurement costs can directly impinge on the bottom line and contribute to loss of
business competitiveness.
3. Compliance Issues: Bringing compliance with internal policies, industry regulations,
and legal requirements can be extremely intricate. Nonfulfillment can result in legalistic
consequences and harm to the repute of the company.
4. Quality Control: The consistency in standards of quality has to be maintained for all
procured goods and services. Quality control issues can be caused by inadequate
assessment of the supplier, poor communication, or just plain lack of enough quality
assurance.
5. Supplier Performance Management: Checking and administering the functioning of the
suppliers assures on-time delivery and that it is of good quality and cost-effective.
Inadequate supplier performance can very well cause disrupted operations and may
even affect customer satisfaction.
6. Data Management: Huge volumes of procurement data can be overwhelming. Accurate
data in a real-time basis is important in making the right procurement decisions.

7. Inventory Management: One of the challenges is striking a balance in the levels of

inventory to prevent overstocking and understocking. Incompetent inventory
administration increases the holding costs or causes stockouts.
8. Integration with Other Technologies: Integrating procurement systems into other
business organizations can get tricky. This may include systems like ERP, inventory
administration, or many more. In the absence of integration, data might be worn out in
silos, leading to inefficiency.
Solutions to Procurement System Problems
There are numerous strategies and best practices that businesses can use to resolve the
challenges facing procurement systems. Among the insights learned from L. C. Jhambh's book
and other industry standards, the following are some of the solutions that may be advanced:
1. Supplier Diversification: Businesses should desist from reliance on a single or few

suppliers. Through this diversification, risks associated with supply chain disruptions
shall be significantly reduced. The more suppliers a business has, the more stable and
resilient the supply chain would be.
2. Strategic Sourcing: Strategic sourcing involves analyzing total cost of ownership,
suppliers' capabilities, market conditions, and then deciding accordingly. This approach
looks toward long-term value rather than just cost savings.
3. E-Procurement Systems: The use of e-procurement systems will lead to
sim·pli·fi·ca·tion of all procurement processes, help to create transparency, and
eliminate errors resulting from manual processes. E-procurement systems are enabled
with the auto-configuration of needs requisitioning, approval workflows, and supplier
communication.
4. SRM – Building proper relations development with the top suppliers helps in creating
better collaboration, two - way communications, and fostering innovations. This shall
include regular performance reviews, joint planning, and shared goals.
5. Contract Management: Proper contract management makes sure that the procurement
contracts are clear, valid, and in alignment to the business goals. It consists of clearly
specifying the terms and conditions, monitoring compliance to the terms, and the
management of the events of the contract lifecycle.
6. Category Management: Category management is the organization of purchasing
activities into areas of similar products or services in order to increase focus on and
efficiency in the procurement process. These can enable better market analyses and
negotiations with suppliers, and cost control.
7. Cost Analysis and Optimization: An in-depth analysis of costs to identify cost-drivers
and areas for cost savings is indispensable in the right decision-making in procurement.
Techniques useful for cost optimization in procurement are should-cost analysis, TCO
analysis, etc.
8. Quality Assurance Processes: The application of strong quality assertion processes
serves to assure that the procured goods and services will meet the expected standards.

This would also include audits on suppliers, quality inspections, and totally spelling out
the criteria of quality.
9. Data Analytics: through the application of data analytics in procurement, one can
achieve insight into expenditure patterns, supplier operations, and marketplace trends.
Data-driven management enhances efficiency and effectiveness in procurement.
10. Training and Development: Ensure the provision of teaching and improvement
opportunities to procurement staff for the development of skills and expertise.
Continuous learning will maintain pro-people of procurement updated with the industry
developments and latest trends.
11. Sustainable Procurement: The incorporation of issues of sustainability into
procurement orders lies in chivvying of long-term value and reduction of environmental
impacts. Viable sourcing relates to the rating of suppliers according to environmental
and social procedures.
12. Risk Management: A good risk administration plan in procurement includes the
identification of risks, possible risks, judgment in terms of influence, and mitigation
strategies. All this points toward practicality in a bid to ensure minimum disruption and
maintain continuity.
Detailed Solutions from L. C. Jhambh’s Book

L.C. Jhambh's book presents an integrated approach toward procurement systems. Several
strategies and principles have been emphasized in his approach to procurement systems,
specifically the following:
1. Scientific Approach to Supplier Selection: Jhambh advocates a scientific approach

toward supplier selection. Suppliers should be selected quantitatively on parameters of
quality, cost, delivery performance, and financial stability.
2. Procurement Planning: Emphasis is laid on detailed procurement planning, which
would include business forecasting, market assessment, and budgeting. Proper planning
ensures that procurement activities remain aligned to the business goals.
3. Negotiation Techniques: Jhambh talks of effective negotiation techniques in getting the
best terms and conditions from suppliers--by way of relevant preparation,
comprehension of the motivation of the suppliers, and ascertaining a win-win situation.
4. Vendor Rating and Evaluation: Proper vendor rating and evaluation monitor the
performance and help to find areas from where improvement may be required in the
suppliers. Delivery timeliness, quality of the delivered products and responsiveness can
be assessment criteria.
5. Purchase Order Management: Book identifies best practices in the management of
purchase orders. These include documentation, making sure that the orders are placed
on time and tracking the status of the orders. Efficient management of purchase order
reduces delays and errors.
6. Inventory Control: Much emphasis is put by Jhambh on the integration of procurement
with inventory control. This would also include alternative techniques of procurement
by JIT and determination of safety stocks.

7. Legal and Ethical Issues: Attention has been given in the book to legal issues in
procurement, especially the law of contract, anti-corruption, and ethical standards.
Compliance is imperative to retain integrity between legal and moral norms.
8. Cost Reduction Strategies: Bulk buying, long-term contracts, and leveraging economies
of scale are some of the strategies on reducing procurement costs. Reduction in cost
without sacrificing the quality is an important factor.
9. Technological Advancements: This book has thrown light on the impact of
technological advancement in Procurement through the deployment of e-Procurement
stages, blockchain for supply chain clearness, and artificial intelligence for prognostic
analytics.
10. Green procurement: Green procurement, according to Jhambh, is assuming increasing
importance, with greater purchase of green and environment-friendly products and
services. This also includes surveying the suppliers with regard to sustainability and
minimizing the ecological impact of procurement activities.
Results and Analysis

Analysis of Current Systems
Stakeholder Interviews
Interviews with key stakeholders have brought out certain valuable insights regarding the
existing inventory management and purchasing processes at Weatherbond Buildcare Pvt. Ltd.
The following are some of the pain points:
1. Inventory Inaccuracies: Frequent discrepancies between recorded inventory level and

actual on-hand quantitative stock levels, thus resulting in another case of either stockout
or excess stock situation.
2. Incorrect Stock Levels: If the stock level is too low or too high, a situation of either
stockout or extra stock arises, increasing the carrying cost and breaking a production
schedule.
3. Bottlenecks in Material Handling: While the material handling process is inefficient,
there will be delays, increased lead times, and a reduction in productivity.
4. No integration between inventory management and purchasing systems: misaligned
purchase decisions and inventory levels.
Observational Studies
The process that is current in inventory management and purchasing casualties points out
several gaps and bottlenecks. Some of them are stated below:

1. Manual Data Entry: The manual data entry process gives way to errors and delays in
updating the inventory records.
2. Poor Workflows: Poor workflows—this means extra approval steps or even time-
consuming communication—extend the lead times and increase operational costs.
3. Inefficient Plant Layout: It results in undue movement of materials and higher handling
time.
Data Analysis
Analysis of the existing inventory and purchasing data from the ERP system provided
quantitative proof for the inefficiencies that had been identified. Key findings were the
following:
1. Inventory Variance: High variance between the recorded and actual inventory levels,
thus translating to high inaccuracies of inventory records.
2. Stock-outs and Excess Stock: The occurrence of frequent situations of stock-outs and
excess stock increases carrying costs and production disruptions.
3. Long Lead Times: Purchasing orders take a long time to be placed and, hence, lead to
stock-outs and delays in production.
Findings
Inefficiencies of the Inventory Management System
The inventory management system that Weatherbond Buildcare Pvt. Ltd. was using had some
inefficiencies that were quite consequential to the company's operations. Overstocking was one
of the major problems identified. Overstocking binds up Money that could be used in another
place and increases holding costs, including warehousing, insurance, and spoilage costs. Too
much inventory can also become obsolete; this happens more in industries where the
introduction of new product specifications and standards is quite frequent.
Contrastically, the firm also faced stockouts. Stockouts are shortages of stock when inventory
is not enough to cover demand, an indication that sales opportunities were lost and customer
relationships might have been damaged too. This twin problem of overstocking and having
stockouts reflects an absence of balance and accuracy in both inventory forecasting and
management.
Procurement Process Bottlenecks

Another important area of dissatisfaction relates to procurement delays. In Weatherbond

Buildcare Pvt. Ltd., procurement was not efficient and responsive enough, thus delaying the
procurement of raw materials and components. Such bottlenecks have a likelihood of
hampering the production schedule and hence delaying order fulfillment, which may result in
customer trust loss.
These bottlenecks were hardwired into the system by various factors such as long approval
cycles, inconsistent supplier performance, and inadequate procurement planning. Since a fine-
tuned procurement system was lacking, there was no response to urgent requirements in a
timely manner, which again aggravated production delays.
Need for Integration of Technology

A large contribution to the inventory management and procurement uselessness came from an
overall lack of automated systems. It held the potential for capabilities such as tracking real-
time inventory, making accurate demand forecasts, and efficiently managing the process of
procurement; all restricted by manuals and archaic techniques licensed at that time.
These can provide real-time data and analytics, increasing transparency and flexibility in
managing inventory levels and procurement activities. Without them, the company still relies
on manual tracking and reporting and thus is prone to errors and inefficiencies. This lack of
technological integration has weighed Weatherbond Buildcare Pvt. Ltd. at a disadvantage
compared to its peers who leverage advanced supply chain technologies.
Supplier Performance Issues

Another critical issue was inconsistent supplier performance, impacting production and
delivery time lines. Supplier reliability is essential for a production schedule to progress
smoothly and meet customer demand. Inconsistent delivery time, variable quality of materials,
and no communication were some reasons suppliers caused disruption in the supply chain.
Such problems require a proper supplier management strategy that involves control over
performance evaluation, open communication lines, and strategic partnerships with dependable
suppliers. Much can be gained in the efficiency of the whole supply chain from better supplier
performance.
Major Findings
Inventory Management Improvements
The first notable achievement was a 30% reduction in inventory levels. These were through
some strategies adopted that would include the ABC analysis, Just-in-Time practices, and
embedding automated inventory management systems.
ABC Analysis

It would focus and attend to the more important items of the inventory because it identified
inventory items as falling into three different groups—A, B, and C—based on their value and
importance. Quite basically, this focus on high-value items, that is, Category A, ensured that
the used-up resources did serve a good purpose in the form of reducing holding costs and
minimizing the risk of obsolescence.
The main factors were the implementation of ABC analysis, which aided in taking a more
structured approach towards inventory management, where category A items were around 20%
of the total inventory and represented 80% of the value of the total inventory. They were
monitored and managed more closely by including regular reviews and tighter controls on
reorder levels that ensured considerable reduction of overstocking and stockouts.
Just-in-Time Practices
Adopting JIT inventory management practices further reduced the level of inventory. Orders
for raw materials in a plan that aligns them to meet the production schedule reduce excess
inventory and lower costs of holding under this plan. Key to adopting JIT practices was the
close management required with providers to confirm that timely deliveries would be made
against production needs.
This involved renegotiating terms with the suppliers, improving the communication channels,
and putting in place better planning systems that would ensure the full adoption of JIT practices.
Consequently, inventory levels remained within the optimum levels, thus offloading the
headache of carrying excess stock while at the same time preventing stockouts from paralyzing
production schedules.
Automated Inventory Management Systems

One of the critical components in delivering inventory reduction was the integration of
automated inventory management systems. Such systems provide real-time outlook into
inventory levels, automation of reordering processes, and advanced analytics for improved
decision-making.
Besides, through automated systems, the firm should be able to track stock movements
accurately, develop better demand forecasts, and maintain optimal inventory levels. One can
make more informed and timely decisions because of real-time data and insights given out by
the system, thus aiding in the full efficiency of inventory management.
Improved Procurement Processes

The large bottlenecks in the procurement process were also addressed by the project. The
company reshaped procurement efficiency, reduced delays, and improved supplier
performance through the rationalization of procurement activities and implementation of
automated systems.

Supplier Relationship Management (SRM)

A strategic partnership with reliable suppliers was of prime importance. Regular
communication, reviewing, and collaborative planning helped in building strong relations with
key suppliers that could ensure quality consistency, timely delivery, and competitive pricing.
SRM practices included regular performance appraisal, open lines of communication, and
strategic partnerships. Long-term relationships with them brought benefits to the company in
better terms, improved reliability, and innovation opportunity. These good relationships with
suppliers supported JIT inventory management practices quite effectively.
Strategic Sourcing and E-Procurement

In the new process, strategic sourcing and e-procurement systems were implemented, thereby
further streamlining it. On one hand, strategic sourcing identified and selected suppliers in
terms of strategic importance; on the other hand, e-procurement systems automated the
purchasing process, reducing manual errors and improving supplier collaboration.
These systems provided an easier, more open, and less time-consuming procurement process
in order to reduce delay and ensure the company would not miss production schedules.
Introducing technology into procurement implies that procurement activities would be better
tracked now and supplier contracts managed more effectively as well as their performance.
Financial Impact and Expansion

Inventory reduction and procurement process improvements were of major financial
significance to Weatherbond Buildcare Pvt. Ltd. Reduction in inventory holding costs and more
efficient use of resources ensured a 30% increase in working capital. This increase in working
capital thus provided much-needed monetary flexibility for investments in new opportunities.
Increased Working Capital

This increase in working capital was directly due to the lower levels of inventory and better
efficiency in procurement. By freeing up capital previously tied up in excess inventory, the
company would be able to allocate funds to other critical areas of the business. This meant
added financial flexibility to meet market demands effectively and to grow.
Growth Through Expanded Operations

With improved working captal, the company is better placed to purchase more land at the
factory, thereby enabling it to expand its operations. Such expansion will enhance the

production capacity of the firm so that it may meet the growing demand in the market and add
more product lines.
The additional land for the factory was an investment that served, strategically speaking, future
growth objectives of the company. A registration in growing production capacity could help
market share, economies of scale, and competitiveness.
Broader Implications for the Company

The implementation of the recommendations from this project at Weatherbond Buildcare Pvt.
Ltd. has wider implcations. Other than immediate financal benefit, an improved inventory and
procurement process has put the company on the track of sustained growth and operational
greatness.
Operational Efficiency
Inventory management and procurement procedures have been improved in order to enhance
operational efficiency. It is a case of cutting down ineffciencies while streamlining procedures
to higher operational effectiveness at lower costs and better proftability.
In particular, it has had better control and transprency of inventory and procurement activities
through automated systems and technology. This has meant quicker turnarunds, lesser errors
occurring, and added accuracy in decision-making—clear views toward the agile response
capability of the supply chain..
Customer Satisfaction
Improvements in inventory management and procurement also contributed positively to
customer satisfaction. Ensuring that inventory is matched with demand and the procurement
process is efficient and relable, the organization has been better positioned to serve its
customers at improved levels. Reducton of stock-outs and delays caused by the timely
fulfillment of orders and improved availability. This helped to lft overall product availability
at hand, thereby improving customer experience and consequently customer retention and
loyalty.
Competitive Advantage:
These strategic improvements in supply chain management have given an advantage to the
market for Weatherbond Buildcare Pvt. Ltd. The postioning and capabilities—from better
inventory management to efficient material procurement and quick respnse to changes in the
market—set up the company's leadership in industry standing.
Apart from nurtring relationships with suppliers, it has invested in technology that has further
helped to strengthen its competitive position. These are the stepping stones to further

innovation, increasing market presence, and long-term success for Weatherbond Buildcare Pvt.
Ltd.
Future Outlook
The successful completion of this project has laid a very strong foundation for the future growth
and success of Weatherbond Buildcare Pvt. Ltd. Backed by the refined supply chain
management practices developed through this project, the company is poised to further
progress on the path of improvement and growth.
Continuous Improvement
The journey to supply chain excellence is never an end in itself, and continued improvement
will be crucial in making the gains to be had from this project sustainable. Regular audits,
performance reviews, and止rocess and system updates will ensure the company remains agile
and responsive to market dynamics.
Weatherbond Buildcare Pvt. Ltd. should be amenable and accepting of the need and desire for
constant training and development of its people to update them with the newest knowledge and
skills in inventory management and procurement. That is how, with a continuous learning and
improvement culture, Weatherbond will be able to sustain its competitive advantage and further
drive innovation.
Strategic Investments
An increase in working capital and the purchase of extra factory land open up scope for new
strategic investments. Weatherbond Buildcare Pvt. Ltd. can utilize these conditions to increase
capacity, diversify product lines, and enter new markets.
It can further increase the transparency and efficiency of the supply chains through investments
in innovative technologies such as artificial intelligence and machine learning. In this manner,
the company will be at the forefront of technologically-induced change and can further
optimize its operations to better create value for customers.
The project for improvement in supply chain management at Weatherbond Buildcare Pvt. Ltd.
has been enormously successful. Reductions in inventory levels and procurement processes
have helped to realize significant reduction, which in turn increased working capital and
enabled expansion of operations. These successes prove that the applied strategies were sound,
and the firm is on the right course in making improvements.
Detailed analysis and recommendations will clearly give a roadmap toward sustained growth
and operational excellence. Weatherbond Buildcare Pvt. Ltd. has been continuously stressing
inventory management, procurement efficiency, and strategic investing to scale up capabilities
to meet its long-term goals while sustaining its lead in the industry.

Indeed, the future brightens up for Weatherbond Buildcare Pvt. Ltd. A strong base that will be
built as part of this project will help in growing and building the company for many more years
to come.
Suggestions and Recommendations

Implementing ABC Analysis
One of the effective tools, inventory management is conducted through the ABC method in
which inventory is divided into three different classifications based on its importance and value.
Category A contains a variety of items that hold higher values but are lesser in number in
comparison with other classes in this regard. Category B holds items that are of moderate value
and quantity. Category C comprises all those items which are both low in value and high in
quantity.
Managing A-category items more closely will improve inventory management at Weatherbond
Buildcare Pvt. Ltd. The company will have proved better control over critical inventory,
reduced holding costs, and minimized risks of obsolescence by focusing on high-value items
first.
Adoption of JIT Practice

Just-in-Time inventory management is such a strategy whereby orders of raw materials with
suppliers are synchronized directly with the production schedule. The principal points relating
to JIT may be described as reducing levels of stock, decreasing holding costs, and improving
cash flows. The adoption of JIT practices at Weatherbond Buildcare Pvt. Ltd. would mean that
close liaisoning with suppliers is necessary to ensure that materials arrive at appropriate times,
rhythmically in relation to production needs.
This strategy requires a reliable supply chain and robust planning systems to avoid stock-out
situations and to concentrate on a smooth production process. The advantages of the JIT
system, associated with such strategy, are decreased inventory cost, reduced wastages, and
enhanced efficiency.
Integrating Automated Systems

Differentiation in supply chain operations at Weatherbond Buildcare Pvt. Ltd. can be done
through automated inventory management and procurement systems that offer real-time
visibility into inventory levels, automate reordering processes to deliver advanced analytics for
better decision-making, and solutions combining the newest capabilities of technologies into
manageable applications.
Inventory management software can also trace stock movements, Cohen estimates accurate
demand, and maintain optimal inventory. Automated procurement systems rationalize the
process of purchasing, reduce manual errors, and can improve collaboration with suppliers.
Higher efficiency, reduced costs, and improved service levels can be achieved by integrating
technology.

Managing Relationships with Suppliers

Development of strategic partnerships with reliable suppliers will help enhance the
performance of the supply chain. Weatherbond Buildcare Pvt. Ltd. will have to develop close
relationships with key suppliers through regular communication, performance review, and
collaborative planning.
SRM is currently working with a few carefully chosen suppliers in close cooperation to ensure
consistency in quality, timely delivery, and competitive pricing. By building long-term
relationships, the company can receive better terms, enhanced reliability, and chances for
innovation.
Training and Development

Inventory management and procurement require correct training for staff, in tandem with the
suggested improvements. Training programs should be implemented periodically to keep
employees updated regarding the latest practices in inventory management, procurement
strategies, and usage of technology in these operations.
By investing in employee development, the decision-making will be sound, efficiency higher,
and agility in supply chains more so. Such training should include ABC analysis, JIT principles
and applications, automated systems, and techniques for management of suppliers.
Regular Audits and Reviews

Inventory and procurement management movements require periodic audits to identify
discrepancies, inefficiencies, or room for general improvement. Regular reviews enhance the
effective realization of implemented changes and maintain supply chain operations in
conformity with business goals.
The audits should point out inventory accuracy, procurement efficiency, supplier performance,
and system effectiveness. A continuous cycle of improvement will help Weatherbond Buildcare
Pvt. Ltd. sustain long-term benefits and adapt to the changing market conditions.
Design of Improved Systems

Best Practices Review
Best practice in inventory management and purchasing was reviewed to underpin the design of
the new systems. A number of key best practices were identified that included:
Lean Manufacturing: Through the implementation of lean manufacturing concepts, such a
system gets rid of waste, reduces lead times, and generally enhances efficiency.
Just-in-Time Inventory: Apply JIT inventory principles to determine the minimum levels of
inventory that should be held and reduce the carrying costs.

Modern ERP systems empower better data accuracy, automation of processes, and decision-
making.
System Specifications
It involved mainly defining the major features and functionalities of the new inventory
management system developed as part of the course requirements, including the following.
Real-Time Inventory Tracking: The business shall implement real-time inventory tracking to
enhance the accuracy and reduce discrepancies of inventory.
Automated Replenishment: Implement automated replenishment processes to ensure optimal
stock levels and reduce the incidence of stockouts.
Inventory and purchasing integration: Integrate the inventory management system with the
purchasing system so that purchase decisions are aligned with the extent of the inventories.
Process Mapping
Process maps for the new inventory management and purchasing information systems
graphically portrayed the enhancements to the workflows. Key improvements include:
Streamlined Workflows: Streamlining workflows so as to remove steps redundantly performed

and reduce lead times.
Improved Communication: Strengthened communication channels ensure that on-time
updating of the inventory and purchasing teams is done, and their goals are aligned.
Optimal Layout: The plant layout needs to be optimized in an optimum way for reducing
motion and handling time of materials.
Implementation
System Setup
Setting up the new inventory management system required configuration in the ERP system
and new procedures. The key activities included:
Configuration of the ERP system: Set up of the ERP system to aid the new inventory
management processes. It would, therefore, involve setting up modules, defining user roles,
and configuring reporting tools.

Procedure Development: Develop new inventory tracking, replenishment, and purchasing

procedures. This shall include process documentation, workflow definition, and directions for
data entry/reporting.
Training Sessions
This included conducting necessary training for the staff so that they were conversant with the
system to be adopted and the new procedures involved. Key activities in that respect included:
Development of detailed training materials, such as user manuals, process guides, and training
videos.
Workshops: Details of workshops actually to impart hands-on training and address any
questions or problems from the staff.
Ongoing Support: Ensured ongoing support was there so that staff could become comfortable
with the new system and perform their roles effectively.
Initial Rollout
The new system was rolled out through the pilot implementation of the selected area of the
plant, collection of feedback, and adjustment of its performance. Notable activities involved:
Pilot implementation: the rollout of the new system in part of a plant to test its performance for
initial data and feedback.
Feedback Collection: Incorporate staff and patrons' responses in an effort to spot issues and
room for improvement.
Adjustments: Make necessary adjustments in view of feedback and initial performance data to
ensure that the system works effectively.
Evaluation
Performance Monitoring
Performance of the new inventory management and purchasing systems was monitored by
following key performance indicators (KPIs) and conducting frequent audits. The key actvities
of the process included the following:
KPI tracking: This is the process of measurement and tracking of inventory accuracy, levels,
lead tmes, and sustaining costs that project the performance of the new systems.

Control-based frequent audts should be carried out to enforce the execution of the new
procedures and search for means of betterment.
Stakeholder Feedback
Gathering feedback from participants gave insghtful information on how successful the new
systems had become and also identified any uncertain issues. The activities that took place
included:
Follow-up Interviews: Conduct follow-up interviews with key stakeholders to gather

information about feedback on new systems and areas of concern.
Qualitative Analysis: Analysis of qualitative feedback for common themes and areas for
improvements.
Continuous Improvement
Performance data and feedback from stakeholders continue to be used in refining key processes
to assure that improvement in the new systems remained progressive.
Ongoing Training: Upon providing ongoing training sessions that can keep staff in line with
new procedures so that they could carry out their roles accordingly.
Monitoring and Adjustment: Continuous monitoring of the system performance is conducted,
and any change required to maintain good performance is updated.
Conclusion
This project helped me significantly enhance the inventory management and procurement
processes of Weatherbond Buildcare Pvt. Ltd. by finally demonstrating a potential reduction in
inventory levels around 30%. The reduction not only saved money by reducing some
inefficiencies and especially the holding costs for inventory but also released substantial
working capital that was spent on some very strategic investments by the company—like
buying additional land for the factory and increasing production capacity to enable future
growth.
The execution of ABC analysis, Just-in-Time practices, and automated inventory management
systems has been the mainstay that made these results a reality. Improvements in relationships
with suppliers and procurement processes were also made to have a lean and efficient supply
chain. Thus, the following enhancements provided a strong base for maintaining operational

excellence and competitive advantage for Weatherbond Buildcare Pvt. Ltd. through most
optimal ways and took the company on the tracks of long-term success and growth.
References
 Chopra, S., & Meindl, P. (2021). Supply Chain Management: Strategy, Planning, and
Operation. Pearson Education.
 Womack, J. P., & Jones, D. T. (2003). Lean Thinking: Banish Waste and Create Wealth in
Your Corporation. Free Press.
 Heizer, J., Render, B., & Munson, C. (2017). Operations Management: Sustainability and
Supply Chain Management. Pearson Education.
 Slack, N., Chambers, S., & Johnston, R. (2010). Operations Management. Pearson
Education.
 Stevenson, W. J. (2018). Operations Management. McGraw-Hill Education.
 Waters, D. (2007). Supply Chain Risk Management: Vulnerability and Resilience in
Logistics. Kogan Page Publishers.
 Silver, E. A., Pyke, D. F., & Thomas, D. J. (2016). Inventory and Production Management
in Supply Chains. CRC Press.
 Russell, R. S., & Taylor, B. W. (2019). Operations and Supply Chain Management. Wiley.
Bibliography
Jhambh, L. C. (Year). Supply Chain Management. Publisher.
Various industry reports and academic journals on supply chain management and procurement
systems.

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Page 1 of 34 - Cover Page Submission ID trn:oid:::1:2966007682

Symbiosis International University

Submission Date 9,057 Words

Jul 15, 2024, 5:06 PM GMT+5:30

Jul 15, 2024, 5:08 PM GMT+5:30

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How much of this submission has been generated by AI?

It is essential to understand the limitations of AI detection before making decisions

Frequently Asked Questions

What does the percentage mean?

How does Turnitin's indicator address false positives?

What does 'qualifying text' mean?

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“Enhancing Inventory Management and Purchasing

Weatherbond Buildcare Pvt. Ltd.

A PROJECT REPORT SUBMITTED AS A PART OF THE REQUIREMENTS

Under the Guidance of

Project Guide Project Mentor

SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES (SIMS)

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Name of the student: Hitansh Shah

Signature of the Student:

Place: SIMS, Pune

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(Issued by Faculty mentor)

Name of the faculty: Dr. M. K. Gandhi

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Executive Summary ................................................................................................................ 8

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It has a myriad of building care products, sealants, adhesives, waterproofing solutions,

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These objectives were framed to be relevant in critical challenges faced by Weatherbond

Project Timeline and Phases

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1. Stakeholders Interviews: Interviews with key stakeholders, that are managers,

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Performance Monitoring: Monitoring of the performance of the new inventory management

Continuous Improvement: Implementing additional changes based on performance data and

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Introduction to Inventory Management

Inventory management refers to the monitoring of items stocked in a company; this is an

Problems Faced in Inventory Management

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Solution to Inventory Management Problems

1. Forecasting of Customer Demand Accurately: State-of-the-art methods and tools of

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Detailed Solutions from L. C. Jhambh’s Book

1. Scientific Inventory Control: Inventory control, according to Jhambh, should be based

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Introduction to Procurement Systems

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Problems Faced in Procurement Systems

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7. Inventory Management: One of the challenges is striking a balance in the levels of

Solutions to Procurement System Problems

1. Supplier Diversification: Businesses should desist from reliance on a single or few

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Detailed Solutions from L. C. Jhambh’s Book

1. Scientific Approach to Supplier Selection: Jhambh advocates a scientific approach

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