Integration of ERP and an optimal plan for inventory layout

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At present the primary challenge for the industry partner, ACQBUILT, Inc., is not only to improve its**manufacturing process in order to reduce time and cost, but to improve inventory management in accordance**with the JIT principle (which can also provide significant benefits such as increased cash flow by reducing the**inventory holding cost), and to establish real-time data collection for more effective decision making. Although**these inventory management operations are supportive services considered vital from a management**perspective, ineffective control of inventory and internal supply chain can disrupt the company's cash flow and**lower its productivity. Hence, the industry partner is seeking to improve the performance of inventory**management such that real-time data collection can be achieved in terms of both field operation and**administrative aspects of the ERP system. In order to improve the current state, a four-step methodology is**proposed that will be carried out over six months in collaboration with the industry partner.**STAGE 1: Analyze the efficiency of the current state of inventory management and processes; STAGE 2:**Develop a real-time data acquisition system to collect real-time data for inventory management; STAGE 3:**Plan and develop an integrated material management system to collaborate with the existing ERP system;**STAGE 4: Plan an optimal inventory layout based on cost-benefit analysis, and identify avenues for future**research**A material management system can capture all dynamic data in real time and effectively synthesize it along the**internal supply chain associated with various types of resources. With the assistance of a feature-based**modelling method, real-time information collection can be merged into an ERP system. For these reasons, this**research will benefit the industry partner (and the construction manufacturing industry in general), and enhance**its inventory and supply chain management practice in order to further leverage the benefits of a construction**manufacturing approach.