Business Offshoring And Inventory Methodology
Business activity varies by a business mission, topic, and variables in a business market. However, conducting an inventory in business requires a significant detective work that will include running and reading thousands of individual program, award data, and different projects. Hence the following type of inventory methodologies set to perform various business activities in a company, (Shara and Sofian, 2002).
Perpetual inventory. A Business companies having an active inventories due to a high number of sales or frequent production are advised to use this inventory to track all good and services moving in and out of their inventories on a daily basis. This inventory methodology is capable of tracking all kind of traffic by using a developed scanning system. Before the end of business activities, business administration has an approximate number of figures of the incoming and outgoing traffic hence the only system they will require is perpetual inventory.
Periodic inventories. This inventory is essential to Small scale business that not often use inventory tools on their daily business activities. This inventory system will help small scale companies to control all the procedures that involves the calculation on how the inventory record has changed over certain period by giving comparison on the starting inventory with fiscal-end inventory
Manual count inventory. This type of inventory is essential to businesses with small inventories. They use this inventory to ensure their inventories are readily available. The business operators can use this inventory to check the expiration dates of given products or ensure they are in legal sales periods while the expired products are sorted out, and finally ensure that there is no theft conducted.
LIFO and FIFO inventory. LIFO mean last-in first-out, this inventory is best on companies selling products that are highly needed or demanded by consumers while FIFO means first-in first-out, it keeps record on products that are removed based on addition day. It Keeps products going continuously to avoid wastage.
Despite all this inventories, I choose the LIFO and FIFO inventory methodology to be more essential in business than all others inventory methodologies, this is because they are active inventories, and they reduce the cost wastage of goods .they provide more room for influx of new goods and get rid of old goods before the expiration dates. However, I advised all business operation to stop wasting their time and resources on using those other inventories and only focus on this type of inventory, (Sirefi and Basheer, 2002).
The reason why I would not like to transfer the labor is, the consequences will cause a spill over the nearby business, to the firm, labor opportunities to the locals, and even industries exposed to greater offspring. This spillover problems will arise as a lot of additional workers, the multinational hire spend their capital and resources at nearby business and other businesses. Employment will decline in my firm, yielding a positive net effect of offshoring companies, and substantial relocation and reallocation of employees.
Selecting the company will affect my decision because the industry-wide responses being captured is that some offshore companies suggest that an increase in offshore companies hiring, leads to a statistically a significant reduction in industry employment level.it is estimated in US alone that 10 percent increment in foreign company hiring among multinational firms lowers the employment by approximately 0.4 percent in industries, (Autor, Dorn, and Hanson 2013).
Some of the ethical issues related to transferring domestic labor to foreign work force are migrant workers are being used by foreign countries to help them plug there labor shortfalls while all migrants remittances gives an essential source of capital and foreign exchange for country of origin. All this happen while the condition in which the migrants live is harsh and isolated one. Some of the migrant workers are cut from social networks, the loved ones, deprived from accessing the local news, are always denied rights that are given to the national workers, they even face exploitation and abuse in their places of work. They are also given dirty, dangerous and demeaning jobs that they may even die or get injured as compared to national workers.
