Chapter 3: SOME SOLUTIONS TO IMPROVE EFFICIENCY OF WORKING
3.2. Some solutions to improve working capital management at ANSV company
3.2.2 Improving the efficiency of inventory management
By analyzing the company's inventory in 3 years 2016, 2017 and 2018, we see that the company's inventory accounts for a large proportion. In which, the value of product in progress accounted for a large proportion in 2016 and 2017, especially in 2018, goods accounted for a large proportion. Therefore, it is necessary to focus on solutions to reduce the amount of inventory to a reasonable level so that it is appropriate to the specific characteristics of the Company and the telecommunications industry is to follow each specific project. In addition, the method of inventory management of the company are still lack of professionalism. The company can use the EOQ model to calculate inventory in a reasonable manner. The EOQ method will help the company save storage costs; yards as well as optimizing the amount of capital used to purchase storage materials to avoid the situation at the time of shortage of raw materials and goods inventory affecting the business operations of the company. However, the company also needs to consider carefully when applying the EOQ model, because not all components of the inventory apply this model, only those with fixed suppliers, material needs. data almost unchanged during production and business time.
In fact, in 2016 and 2017 and 2018, the inventory rotation of ANSV is higher than the industry average (6.9) and this proves that the Company calculates the inventory quite well, and at the same time the delivery and installation and real time fast acceptance, making goods without inventory for too long. The company saves storage costs, interest on bank loans.
Improving the process of preserving the inventory of inventories: Currently, according to the list of some materials and products of the Company, the number of technology equipment is outdated due to errors in the process.
Market forecast should have imported large quantities:
(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company
Table 3.1. Table of quality monitoring using inventory, finished products of ANSV Company
Items
Classify
Lot import / production
Quanti
ties Technology Test day Current technology Goods Raw
material 1. A5520 AMS
Core Platform
x 3/15/12/2015 27 ADSL copper
cable technology
31/12/2018 GPON fiber optic technology
2. A5520 AMS Operator Position
x 5/1/9/2016 237 ADSL
copper cable technology
31/12/2018 GPON fiber optic technology 3. A5520 AMS -
NE RTU by release - ISAM
x 9/5/11/2016 48 ADSL
copper cable technology
31/12/2018 GPON fiber optic technology 4. A5520 AMS -
NE RTU by release - PON
x 1/12/2015/8 50 ADSL
copper cable technology
31/12/2018 GPON fiber optic technology 5. A5520 AMS - 1*
NE Subscriber Lic.
- PON
x 15/1/2017/3 20 ADSL
copper cable technology
31/12/2018 GPON fiber optic technology
It can be seen that inventory inspection cycle of ANSV is not really reasonable, only once a month. Compared to the scale of the Company and with the checking frequency, the amount of raw material, finished products will have to be removed very much, causing waste of capital as well as other related storage costs.
Instead, 2 times / month, accounting materials and goods will be coordinated with the deployment department, sales department and technical department to compare books, monitor the situation of changes, to detect numbers raw material, goods in stock, backward technology, ... to take measures to quickly recover capital as well as minimize other costs.
- Use of inventory management software: The company needs to invest in inventory management software such as iBom, Ecount, BS Silver, .. to be able to control the volume of raw material, finished products from that helps
(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company(LUAN.van.THAC.si).working.capital.management.at.advanced.network.systems.vietnam.limitted.company
increase working capital efficiency. The software with the mission of managing all warehouse work from importing, exporting, inventorying, adjusting materials to making reports, managing online orders, ... from then the administrator can propose directions. The most timely warehouse management.