Company operation management process inventory is all kinds of assets stored by enterprises for sales and consumption. The inventory of general commercial enterprises is mostly commodity inventory, and the inventory of processing enterprises has many types, including raw material inventory, work-in-process inventory and finished goods inventory.
First, the impact of inventory on working capital
The production and operation process of an enterprise is actually a logistics process. In an enterprise, accounts receivable can be zero, but inventory cannot be zero, otherwise it means bankruptcy and liquidation of the enterprise.
The influence of inventory on enterprise funds is twofold: on the one hand, the processing process of inventory is actually the main process of enterprise capital appreciation; On the other hand, excessive inventory has a certain impact on the capital turnover of enterprises. Mainly manifested in excessive inventory, such as excessive raw materials, inappropriate semi-finished products, unsalable finished products, etc., will precipitate the funds of enterprises, affect capital turnover, and affect the solvency of enterprises. The operating ability of an enterprise is mainly manifested in the turnover rate of accounts receivable and inventory. The faster the inventory turnover rate, the stronger the capital operation ability, the easier it is for products to be realized and the stronger the debt repayment ability.
Therefore, enterprise inventory is necessary, but it must be managed reasonably.
Second, the cost of inventory.
1. Purchase cost
Procurement costs mainly include the price of purchased raw materials or products, transportation and miscellaneous fees, etc. Generally speaking, the inventory cost of an enterprise is the purchase cost.
Enterprises usually set up two accounts when keeping accounts. One is the planned price, which guides enterprises to consider the fluctuation of raw material prices under the planned price. The other is the cost difference of raw materials.
2. Ordering cost
Ordering fees refer to travel expenses, negotiation fees, postage, telephone charges, goods acceptance fees and storage fees. The ordering cost is related to the ordering times. The more ordering times, the higher the ordering cost, and the higher the ordering cost. In bookkeeping, these expenses are generally included in the management expenses.
main points
Inventory cost content:
① Procurement cost;
② ordering cost;
③ storage cost;
④ Shortage cost.
3. Custody costs
Storage expenses include storage expenses, handling fees, insurance premiums, interest expenses, deterioration losses, etc. , refers to the expenses incurred in the process of product storage. This fee will eventually be included in the management fee.
4. Shortage cost
Out-of-stock cost refers to the loss that an enterprise can't meet the needs of production and operation due to insufficient inventory, including the loss of expected materials, the loss of fines for delayed delivery, and the loss of corporate reputation. These losses are not direct costs, but equivalent to opportunity costs. This opportunity cost is different from the traditional purchase and inventory cost of enterprises. It aims to calculate the economic lot size, fully consider the ordering cost, and choose the ordering method with the lowest total cost when purchasing.
Third, the evaluation index of inventory
There are two main evaluation indexes of inventory management: inventory turnover rate and inventory turnover days. These two indicators are very key indicators in the project.
1. Inventory turnover rate
Inventory turnover rate refers to the number of inventory turnover per unit time (one year), which reflects the inventory turnover rate. The faster the inventory turnover rate, the stronger the profitability of the enterprise. Therefore, the inventory turnover rate is closely related to the profitability of enterprises.
Inventory turnover is equal to the cost of sales divided by the average inventory balance. The average inventory balance refers to the average daily inventory of an enterprise within one year. The average inventory balance is equal to the inventory at the beginning of the month plus the inventory at the end of the month divided by 2.
Generally speaking, as long as enterprises maintain normal production, they must have inventory. For example, Haier Group adopts the method of order production, reduces the inventory of work-in-process on the basis of reducing the inventory of raw materials, and directly transports it to dealers around the country after the production is completed, but even so, Haier Group still has a certain inventory. Because of the seasonal reasons of production, enterprises will cause the rise and fall of inventory, so the monthly calculation is more accurate.
2. Inventory turnover days
In management, because the inventory turnover rate is too abstract, enterprises sometimes use inventory turnover days to evaluate inventory management. Inventory turnover days refers to the days from the purchasing enterprise to the selling enterprise, which is influenced by the turnover days of raw materials, production cycle and finished goods inventory. The calculation method is 360 (days) divided by the inventory turnover.
Some enterprises tend to be more refined in management, and the inventory turnover days are divided into raw material turnover rate and turnover days, and in product turnover rate, turnover days, finished product turnover rate and turnover days. Compared with the historical level of the enterprise and the calculated average level of the same industry, it reflects the inventory management level of the enterprise.
Different enterprises have different standards for inventory turnover days, such as Yunnan Baiyao and Tongrentang. Inventory turnover days are longer, because the raw materials of these enterprises are mostly traditional Chinese medicine, which is very seasonal. The quantity of one-time purchase shall ensure normal production throughout the year. For a company like Wahaha, the inventory turnover days are relatively short.
Enterprises should try their best to take various measures to speed up inventory turnover, such as subdividing production processes and specialization and cooperation. For example, the inventory turnover days of Beiqi Foton are only over 30 days.
Fourth, the capital limit management of inventory
Inventory fund quota management is a measure of the occupation of all kinds of inventory funds in enterprises, and it is also an effective method to manage the inventory quantity and reduce the occupation of funds. In the traditional way, processing enterprises generally turn inventory into three quotas: raw material reserve fund quota, work-in-process production fund quota and finished product fund quota. After the reform of accounting system, it was renamed as inventory. If an enterprise wants to manage its inventory funds well, it is best to adopt the method of quota management.
Quota standard belongs to the basic work of management, and it is an essential work to provide information, basis, the same standard and basic means for realizing the business objectives and management functions of enterprises.
1. Make a reasonable capital occupation quota.
Enterprises should formulate reasonable capital occupation quotas, including raw material quotas, work-in-process quotas and finished product quotas.
It is best to adopt the method of combining the upper and lower levels when formulating the capital quota: the financial department puts forward the methods and requirements for formulating the quota to all departments, mobilizes all departments of the enterprise to formulate their own capital quota according to the actual situation, and then the financial department summarizes and balances it, and then formally implements it after further examination and approval.
There are many advantages for each department to set the capital quota: first, it is faster, and it is not necessarily accurate to set the quota of the whole company only by the strength of the financial department; The second is to improve the initiative, and the quota will be determined by each department, so it will be more active in the implementation process.
In this process, the financial department mainly plays the role of auditing and warning, which is manifested as: auditing whether the quotas formulated by other departments are reasonable; In the process of implementation, once the funds of any department exceed the limit, the financial department can sound an alarm.
Under normal circumstances, an enterprise may not be comprehensive enough when it initially formulates its capital quota, but as long as it insists on revising and supplementing it year after year, it will certainly be able to master the correct method.
2. Control the expenditure and occupation of funds
After the capital quota is worked out, enterprises should control both expenditure and occupation. Capital quota must be combined with cash receipts and payments. The capital occupation and expenditure of enterprises should be based on the capital quota, and all aspects of capital occupation should be measured. Those exceeding the capital limit should be strictly controlled.
3. Strict assessment and management of funds.
After an enterprise sets a capital quota, it must have certain standards to measure it, otherwise the previous work will be invalid. Budget has three major functions: setting targets, allocating resources and assessing basis, among which assessing basis is the most important. It can be said that budget management and performance appraisal are unified.
Enterprises should link their interests with their work through assessment, and so should capital quotas. After setting the capital quota, enterprises should use it to assess their employees, and put the responsibility on each unit and individual, implement hierarchical management, conduct monthly inspection and assessment, reward those who strictly control the occupation of funds, and give appropriate punishment to those who occupy funds beyond the quota.
At this time, it should be noted that there is a process for enterprises to strictly assess the amount of funds: first, analyze the inventory situation, deduct the inventory accumulated for many years, and find ways to reasonably arrange the inventory generated by production command or market changes in future production and make full use of it.
Verb (abbreviation of verb) inventory management decision
Enterprise's inventory management decision mainly focuses on three issues: whether there is inventory, how much inventory there is, and the decision to deal with inventory backlog.
1. When do you need inventory?
Enterprises can't be out of stock, but this problem should be decided according to the supply situation. Based on whether the continuity of production can be guaranteed, if the enterprise can ensure the continuity of production, it can have no inventory.
For example, Haier Group has established a cooperative relationship with suppliers, requiring suppliers to supply according to the demand of production lines and deliver raw materials before starting production. The raw materials on the assembly line belong to Haier Group, and those under the assembly line belong to suppliers. In order to meet this requirement, Haier leased the warehouse around the new production line to the supplier, and all the goods in the warehouse belonged to the supplier. After years of running-in, Haier has formed a relatively stable relationship with suppliers and achieved zero inventory production.
If there is no inventory, enterprises can greatly reduce costs, and ordinary enterprises can also learn from Haier Group's practice and sign long-term contracts with suppliers to find ways to minimize inventory.
2. How much inventory do you need to keep?
Enterprises should adopt the economic batch method when determining the inventory quantity. Work in process is mainly affected by two costs: one is the adjustment cost, and the other is the storage cost. Therefore, when determining the inventory quantity of WIP, the economic batch method should be adopted.
In production, enterprises can also use the order point method. Order point refers to the order point to produce a batch of work-in-process products and ensure the normal production of this batch of products. Some enterprises also use stacking method, that is, the raw materials used to produce a batch of products are divided into three piles, and the first two piles are used up, leaving one pile to ensure normal production. During this period, enterprises can buy the next batch of raw materials.
The inventory of finished products should be based on the statistical data of market research and the management methods of enterprises should also be considered comprehensively. For example, the inventory of general clothing enterprises accounts for more than 30% of current assets, while the inventory of Bosideng Group only accounts for 18% of current assets because of correct management methods.
3. Disposal of overstocked and expired inventory
Sometimes, the products produced by enterprises do not meet the market demand, which will cause a backlog. When dealing with this problem, enterprises have a general principle-try to realize the inventory as much as possible while minimizing losses, and if necessary, dispose of the losses as long as they can recover the funds.
This method was not recognized by everyone in the early years, but it has been adopted by the majority of enterprises in recent years. For example, at the end of the year, clothes are often sold in Shanghai, Shenzhen and other places.
Using this method, even if there is a loss at the beginning of the year, the enterprise can invest in the production of new products with the money obtained from handling old products, which may make up for the loss at the beginning of the year at the end of the year. When solving this problem, it is more appropriate for enterprises to compare the amount of losses and the situation of capital occupation in advance. For example, some products can be used continuously for many years, but most of them are still sold normally.
This decision should be made by the top leaders of the enterprise, who should be enlightened and take reasonable measures in time, otherwise it will cause a greater burden to the enterprise.