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A001213028
Student name:
ADASA EDWARDS
Adelaide/DL/Teaching
Centre:
Course/specialisation:
Subject matter:
(i.e. which subject from the
MBA course is the Project
SUPPLY CHAIN MANAGEMENT
Proposal
mainly
related
NB: If you
are to)
doing a specialised MBA the Subject most related to the Project Proposal
MUST be related to the area of specialisation in order to receive the specialised degree.
An investigation into the Inventory Management System
Title:
employed at Kennscott Limited
Word count:
1459
DECLARATION
By submitting or causing this document to be submitted, you, the above-named student,
confirm that:
1. You understand the consequences of plagiarism and confirm that you have not
plagiarised any other persons work in this Project Proposal and except where
appropriately acknowledged, this Project Proposal is your own work, has been
expressed in your own words, and has not previously been submitted by anyone else.
2. You have obtained consents from the organisation(s) to be studied and will retain
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of consent to this Project Proposal?
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Proposal? For example, the document is saved in the format #A001428504 Jane
Citizen Project Proposal.
A001213028
Adasa Edwards
An investigation into the Inventory Management System
employed at Kennscott Limited
Please answer the following questions, read the ethics declaration and submit
with the Project Proposal.
Yes
No
RISK FACTORS
o Does the project involve experiments or intrusive procedures on human
subjects?
o Can the project cause any conflict of interest, say, where there is a
dependent or unequal relationship (e.g. employer/employee or
landlord/tenant) which may advantage or disadvantage an individual?
o Does the project involve people who may be involved in illegal activities?
o Does the project involve people who are superiors or subordinates of the
researcher?
o Does the project proposal include an effective written section about ethics
relating to this project?
ETHICS DECLARATION
By submitting this form with the Project Proposal, I acknowledge that I have read the
ethics section in the Learning Materials, am aware of the general ethics requirements
relating to research, have designed this project to meet the ethics guidelines and will
conduct the project in an ethical manner.
Research ethics assessment outcome:
(to be completed by the assessor)
Approved
Not Approved
Comments
Outcome:
Approved
Not Approved
Comments
Title
An investigation into the Inventory Management System employed at
Kennscott Limited
Table of contents
6|Page
1 Introduction.......................................................................................................................8
1.1 Background:...............................................................................................................8
1.2 Project Research Problem..........................................................................................8
Focus of the Study...............................................................................................................9
2.1 Purpose of research project........................................................................................9
2.2 Research Questions..................................................................................................10
2.3 Significance of the Project.......................................................................................10
3. Project Related Literature Summary..............................................................................11
3.1 What is Inventory Management...11
3.2 Factors influencing the design of inventory management systems....11
3.3 Types of Inventory Management Systems...12
3.4 Challenges faced in managing inventory and intervention strategies.13
4. Plan Research Methodology..........................................................................................15
4.1 Explanatory/Exploratory Research Study................................................................15
4.2 Data Collection........................................................................................................16
4.2.1 Secondary Data.....................................................................................................16
4.3 Data Analysis...........................................................................................................16
4.3.1 Secondary data collection.................16
4.3.2 Primary data collection....17
4.3.3 Data Analysis...........18
5 Ethical Considerations....................................................................................................19
6.Schedule of Completion.................................................................................................19
References..........................................................................................................................21
Appendix. A.......................................................................................................................23
Client Feedback Survey.................................................................................................23
Appendix B........................................................................................................................29
Individual Interview Structure.......................................................................................29
Appendix C........................................................................................................................32
Consent Form.................................................................................................................32
7|Page
1 Introduction
1.1 Background:
Kennscott Limited is a customer driven company managed by a cadre of
highly skilled technical workers within the catering sector. They provide
catering and ship chandelling services for many companies within the energy
sector of Trinidad and Tobago. A relatively new player in our countrys
thriving energy sector, KENNSCOTT Ltd became fully operational in June
2008, and has already made its mark as a dependable, ethical, efficient and
professional business enterprise partner to several leading energy
companies, both locally and internationally.
fixed ordering cost. The EPQ model developed by Taft (1918) is an extension
of the EOQ model. This classical economic production quantity model (EPQ)
has been widely used and would be instrumental in strategic formulation for
Kennscott Limited.
The purpose of this research is to investigate the existing inventory
management system at Kennscott; to determine the factors contributing to
its ineffectiveness and to make recommendations towards enhancing the
system.
Key areas of investigation will be:
Kennscott is facing.
Assessing the Performance of the present inventory management
systems and the impact on the operational objectives of Kennscott
Limited.
Identify the aspects of the inventory management systems in need of
improving.
Determination of the most appropriate inventory management system
based on Kennscott Limited operations requirements.
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Inventory
Description
managemen
t system
Just-In-Time (JIT)
Economic Order
Quantity
Re-Order Point
factors
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Inventories
of inventories
Demand Forecasting
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Training users
forecasting and
inventory management
software
Change Management
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4.2 Method
The research will adopt a case study methodology with Kennscott Limited
being the case organization. A case study methodology involves an
empirical investigation of a particular contemporary phenomenon within its
real life context using multiple sources of evidence (Robson 2002, p. 178).
This research method will be adopted as it allows triangulation means for
seeking convergence across qualitative and quantitative methods which
gives appropriate allowance to resource information from owners,
stakeholders and multiply data sources (Jick 1979).
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timelines
To assess client satisfaction and areas of
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Purpose in Research
Target
Sources
Survey
Participants
Random 20-25
Questions
participants
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Interviews`
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Four participants
This would
comprise of
the Managing
Director/Own
er, Head of
Operations,
Inventory &
Purchasing
Department
Team Lead
and Finance
Manager.
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5 Ethical considerations
An agreement was made between researcher and the company being
studied that all information that is resourced would be held with the
highest ethical consideration as followed based on ethical clause and
guidelines provided by the Australian Institute of Business.
As agreed via written request each individual interview would be treated with
respect and allowed to present information based on the parameters of
this research therefore no irrelevant questioning that could initiate bios to
this research would be asked.
Appendix includes a signed copy from the Human Resource Manager of
Kennscott Limited as agreement to of companys participation in this
research.
6. Schedule of Completion
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June 302016
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References
Robson, C 2002, Real world research, 2nd edn, Blackwell, Oxford.
Saunders, M, Lewis, P & Thornhill, A 2003, Research methods for business
students, Prentice Hall, London.
Jick, Todd D. "Mixing Qualitative and Quantitative Methods: Triangulation in
Action." Administrative Science Quarterly 24.4 (1979): 602-11. Web.
Baerenholdt, J.O. and Scheuer, J.D. (2010) Design research:
Synergies from Interdisciplinary perspectives. Edited by Jesper
Simonsen, Jorgen Ole Barenholdt, and Monika Buscher. United
Kingdom: Taylor & Francis.
Cheng, T.C.E., Podolsky, S., Jarvis, P., Cheng, P.S. and Jarvis, P.G. (1996) Justin-time manufacturing: An introduction. 2nd edn. London, Angleterre:
Springer-Verlag New York
Brealey, R.A., Myers, S.C., Allen, F. and All.., F. (2007) Principles of corporate
finance with S&P bind-in card. 9th edn. United States: McGraw Hill
Higher Education.
Bozarth, C.B. and Handfield, R.B. (2012) Introduction to operations
and supply chain management. 3rd edn. Harlow: Pearson
Education.
http://userhome.brooklyn.cuny.edu/irudowsky/CIS10.31/articles/EOQ
Model.pdf (Accessed: 27 May 2016).
Managementstudyguidecom. (2016). Managementstudyguidecom. Retrieved 20 April, 2016,
from http://www.managementstudyguide.com/inventory-management.htm
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Anderson, David L.; Frank Britt,; Donavon Favre,. "The 7 principles of Supply
Chain Management.(FUNDAMENTALS)." Supply Chain Management Review.
Peerless Media. 2007.
"Enterprise Resources Planning, Technology", Harvard Business School,
Escalle, cedric X., Mark Cotteleer and Robert D. Austin. 1999.
Introduction to Supply Chain Management Technologies, Second Edition
David Frederick Ross, APICS National, Chicago, Illinois, USA
Richard A. Brealey, 2007. Principles of Corporate Finance, 9th Edition. 9th
Edition. McGraw-Hill / Irwin.
Saunders, M, Lewis, P, Thornhill, A, 2007, Research Methods for Business
Students, 4th edition, Prentice Hall
BusinessDictionary.com. 2016. What is secondary research? definition and
meaning. [ONLINE] Available
at: http://www.businessdictionary.com/definition/secondary-research.html.
[Accessed 17 MARCH 2016].
Creswell, J. W. (2003). Research design: Qualitative, quantitative, and mixed methods
approaches (2nd ed.). Thousand Oaks, CA: Sage
"Ten Ways To Reduce Inventory, While Maintaining Or Improving Service". Shelfplus.com. N.p.,
2016. Web. 29 May 2016.
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Appendix
Appendix. A
Client Feedback Survey
This survey is based on a requirement for fulfilment of a research with strict
ethical guidelines relative to the Astralian Instite of Business, all partiicpants
information wold not be disclosed.
1. Have you ever had any event or service provided by Kennscott
Limited?
o Yes
o No
3
3. How satisfied are you with your services from Kennscott Limited?
o Extremely satisfied
o Very satisfied
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o Neutral
o Very dissatisfied
o Extremely dissatisfied
4
Would you recommend this company to your associates?
o Yes
o No
o Not Sure
5
For your NEXT event/ offshore installations/service request, how likely are
you to procure from Kennscott Limited?
o Very likely
o Somewhat likely
o May or may not
o Somewhat unlikely
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o Very unlikely
o N/A
6
Which of the following modes did you use to place the order for service from?
o Mail order
o Internet
o By telephone
o Fax
o Other
7
What are the THREE main reasons you did not process a service request from
other companies within this sector (e.g JSL, Camquip & Western Shipping?
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What would you change about the process of ordering from the company
(e.g. placing the order, mode of payment, delivery etc) from Kennscott
Limited?
9
Do you think that Kennscott requires quality improvement in their delivery of
services?
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10.
How quick are orders met relative to request?
o Excellent
o Good
o Average
o Poor
o Terrible
o Not Sure
11.
Are all service deadlines met? For events are your requirements exact to
orders placed.
o Excellent
o Good
o Average
o Poor
o Terrible
o Not Sure
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12
Are there any other comments/ recommendations you have for Kennscott
Limited?
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Appendix B
Individual Interview Structure
No
N/A
No
N/A
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No
N/A
No
N/A
No
N/A
No
N/A
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No
N/A
No
N/A
No
N/A
No
N/A
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Appendix C
Consent Form
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