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Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. [1] It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages.
Manufacturing execution systems (MES) are computerized systems used in manufacturing to track and document the transformation of raw materials to finished goods. MES provides information that helps manufacturing decision-makers understand how current conditions on the plant floor can be optimized to improve production output. [ 1 ]
Radio-frequency identification and barcodes are two common technology methods used to deliver traceability. [1] RFID is synonymous with track-and-trace solutions, and has a critical role to play in supply chains. RFID is a code-carrying technology, and can be used in place of a barcode to enable non-line of sight-reading.
In systems engineering and software engineering, requirements analysis focuses on the tasks that determine the needs or conditions to meet the new or altered product or project, taking account of the possibly conflicting requirements of the various stakeholders, analyzing, documenting, validating, and managing software or system requirements.
In software development, a traceability matrix (TM) [1]: 244 is a document, usually in the form of a table, used to assist in determining the completeness of a relationship by correlating any two baselined documents using a many-to-many relationship comparison.
A traceability analysis is then used to ensure that each requirement is fulfilled by the source code, that each functional requirement is verified by test, that each line of source code has a purpose (is connected to a requirement), and so forth. Traceability analysis accesses the system's completeness.
Requirements traceability is a sub-discipline of requirements management within software development and systems engineering.Traceability as a general term is defined by the IEEE Systems and Software Engineering Vocabulary [1] as (1) the degree to which a relationship can be established between two or more products of the development process, especially products having a predecessor-successor ...
Inventory Turn is a financial accounting tool for evaluating inventory and it is not necessarily a management tool. Inventory management should be forward looking. The methodology applied is based on historical cost of goods sold. The ratio may not be able to reflect the usability of future production demand, as well as customer demand.
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