Exploration of Inventory Management and Stock Control Practices in the Engineering and Construction Division: A Focus on Pelco I, Sto. Domingo, Mexico, Pampanga
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Effective inventory management is crucial for optimizing organizational efficiency and performance. This study explores key themes in inventory management and stock control practices focusing on workforce planning, employee engagement, communication, risk management, modernization, and strategic planning. The findings indicate that strategic workforce planning is essential for ensuring adequate staffing levels and preventing delays while active employee engagement enhances accuracy and decision-making. Clear communication and interdepartmental collaboration are vital for coordinating efforts and aligning strategies. Risk management practices including FIFO implementation and regular audits are necessary to mitigate risks related to stockouts, damages, and theft. Modernizing inventory management systems and investing in advanced warehouse facilities improve data accuracy and operational efficiency. Strategic material planning ensures timely procurement and prevents shortages. The study concludes that integrating these elements leads to more efficient operations, better risk mitigation, and alignment with organizational goals, thereby enhancing overall performance and competitive advantage. Recommendations include enhancing workforce planning, increasing employee engagement, strengthening communication, improving risk management strategies, investing in modernization, and enhancing strategic planning and allocation. Implementing these recommendations can lead to significant improvements in inventory management practices and organizational efficiency.
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