Study On Optimizing Inventory Management Of Tennant Company

With the continuous development of the economy,China's cleaning equipment industry is further open after joining the world trade organization,and the rapid development of the cleaning equipment industry makes the market competition more and fierce.In the increasingly fierce market competition environment,the key part for a company to win is to control the cost effectively and reduce the inventory so as to improve the competitiveness of the market.As a famous manufacturing enterprise of cleaning equipment of the market,Tennant company's inventory current situation is not optimistic.The high amount of inventory lead to the increase of inventory holding cost all the time which brings a lot of trouble to the sustainable development of enterprises.This paper takes the inventory of Tennant company as the research object which contains six chapters: the first chapter is introduction,mainly elaborates the research background and significance,related theory research status at home and abroad,research contents and train of thought,research methods and framework;The second chapter starts from related theory,and sets forth the theory of inventory management method,at the same time takes overview on the functions of the inventory management method.Meanwhile,it briefly describes safety stock management and zero inventory management theory from the view of the traditional inventory management method and modern inventory management method;The third chapter starts with the current situation of inventory management in Tennant company,analyzes the problems in the inventory management of Tennant company in terms of the number of months,inventory structure,supplier communication,management methods and information exchange.The fourth chapter analyses ABC classification in Tennant company,finds out the optimized plan for the company inventory management based on the above analysis,and further enhances the level of Tennant company inventory management model through VMI inventory management methods.The fifth chapter is to establish an effective system in inventory structure,demand forecasting,optimizing communication through the establishment of effective supply chain inventory management organization structure,improvement of enterprise inventory forecast level and the ERP system,and provides some reference suggestions to Tennant company and similar companies.The sixth chapter concludes with the analysis of the previous chapters,and provides some suggestions for inventory researches in similar enterprises.