INVENTORY MANAGEMENT OF UNILERVER

Group: Flechazo Inventory Management Duong Khanh Bang - 19124060 Le Thi Quynh Giang - 19124057 Dinh Thi Ha My - 19124051 Tran Ngoc Bao Yen - 19124042 I o f o d e h i t n f d o u l s e t r d y o at m y u r n o i t le n v e e v r n Introduction Founded year September 2, 1929, United Kingdom Company size -Unilever is one of the world's leading multinational companies specializing in personal care, home care and food products -With 149,000 employees worldwide and over 400 brands in over 190 countries Competitors Procter & Gamble (P&G), Nestlé, Kraft Foods, Mars Incorporated, Reckitt Benckiser Henkel Icons come together to shape the Unilever logo Each symbol inside has its own meaning and represents the values and product characteristics and is closely related to the areas in which Unilever operates Unilever's products In June 2021, Unilever has just announced the successful signing of an agreement to acquire Paula's Choice - the world's leading famous cosmetic brand from TA Associates MISSION: To add vitality to life We meet everyday needs for nutrition, hygiene and personal care with brands that help people feel good, look good and get more out of life UNILEVER VIETNAM VISION: Making Vietnamese lives better Introduction about Food and Drink Industry of UNILEVER The food industry is one of the four main lines of Unilever Vietnam The food industry currently includes many of the world's favorite food brands such as Knorr, Unilever Food Solutions, Lipton, Wall's Unilever Food Solution was founded with inspiration from the stories of famous brands: Knorr, Lipton, Best Foods, Unilever Food Solutions is the world's leading provider of culinary solutions for Professional Kitchens It has a business system in 74 countries, with more than 4,700 professional employees, with 230 dedicated chefs, serving millions of delicious meals every day UNILEVER FOOD SOLUTIONS' MISSION IS TO CREATE A PROFESSIONAL KITCHEN ENVIRONMENT THAT CONNECTS AND INSPIRES THE GLOBAL KITCHEN COMMUNITY THROUGH ITS EXTENSIVE CULINARY KNOWLEDGE, MODERN INGREDIENTS, AND CREATIVE FREEDOM FOR CHEFS , EXPERIMENT AND CREATE MASTERPIECES Unilever's inventory model Unilever applies the perpetual method and periodic method of inventory management In addition, operational goals for the inventory are met through just-in-time (JIT) inventory management The just-in-time (JIT) inventory system is a management strategy that aligns raw-material orders from suppliers directly with production schedules JIT is also applied throughout the entire sales process The quantity of goods sold and the flow of dispatched goods will closely match the quantity of goods produced, avoiding capital backlog and unnecessary inventory The important feature of the Just in time model: it is better to apply small batches of approximately the same production scale, to receive materials during the production process, than to produce large batches and then store them in stock capital stagnation Unilever's inventory model Evaluate the effectiveness of inventory management activities Effective inventory management is reflected in reasonable inventory levels, high levels of customer service, and avoid wasting Consumption forecast deviation Factors affecting the management of finished product inventory food of Unilever Vietnam International Co., Ltd Customer service level Supply time Shelf life Operational capacity of the warehouse system Supply reliability UNILEVER STOCK MODEL REVIEW COMMENT Ensure accuracy of production time Strengths Ensure accuracy and quality of products Maximum saving of materials and materials Product life cycle turns quickly because of high labor dispersion Strengths Enhancing competitive value Low inventory ratio Reducing labor costs WEAKNESS if one stage stops working, the whole line will stop working The system of the JIT model cannot work independently if one stage stops working, the whole line will stop working A manufacturing company is required to build a production process to match the JIT system Risk of high transportation costs Putting great pressure on the company's production department Having to redesign the entire production process of the company to fit the JIT system JIT works with weekly orders in smaller quantities to keep inventory costs low 20 / 15 Recommendation The most effective application for units with repetitive production operations Using the Just-in-time (JIT) model requires close coordination between the manufacturer and the supplier Departments need to ensure awareness of the importance of maintaining productivity; quality as well as minimizing waste Enterprises need to synchronously combine many measures: apply a single-product flow line (products are transferred according to the production process, not according to specialized departments to reduce shipping costs), the ability to self-check (the post-testing stage, the pre-acceptance test), the normalization (distributing the work evenly every day) Thank you ! ... inventory model Evaluate the effectiveness of inventory management activities Effective inventory management is reflected in reasonable inventory levels, high levels of customer service, and avoid wasting... Unilever's inventory model Unilever applies the perpetual method and periodic method of inventory management In addition, operational goals for the inventory are met through just-in-time (JIT) inventory. .. The quantity of goods sold and the flow of dispatched goods will closely match the quantity of goods produced, avoiding capital backlog and unnecessary inventory The important feature of the Just