Project Management
Project Management
Final Report
Inventory Management System
(IMS)
Company:
Dewan Farooque Motors Limited
(DFML)
Table of Contents
An Introduction to Dewan Farooque Motors Limited (DFML)
- Inventory
- Introduction to Inventory Management System (IMS)
- Project Description
- Project Team
- Project Team Responsibilities
- Problem Identification
- Purpose of the Project
- Reasons for Changing Inventory Management Systems
- Scope
- Objectives
- Need & Expectation of the User
- Platform to be used for the Project
- Activity Scheduling
- Activity Duration Estimation
- Cost Estimation
- Work Breakdown Structure
- Gantt Chart
- Deliverables
- Constraints, Assumptions, Risks
An Introduction to Dewan Farooque Motors Limited (DFML)
On December 25, 1998, Dewan Farooque Motors Limited entered into Technical Licensing Agreement with Hyundai Motor Company of South Korea for assembling and manufacturing of Hyundai vehicles in Pakistan. The project cost was approximately Rs. 1.8 billion financed on a 58:42 Debt to Equity ratio, with the assembly plant’s installed capacity of 20,000 vehicles annually in two shifts.
An independent team of professionals in the areas of Marketing, Finance and Production are working on the project. The vision of the group is to expand activities gradually in the automobile industry with the introduction of a range of different vehicles. DFML has the advantage of introducing a superior quality and cost competitive product to a market that was dominated by Japanese manufacturers.
DFML has a long-term vision and plans to expand activities gradually in the automobile industry, i.e. the mother of engineering industry; as a number of other sectors of the economy depend on it, directly or indirectly, for their income. Some of these sectors are engineering, electronics, metal, rubber and plastic. The ultimate aim is to achieve 90% localization by 2015.
The company also imports and market “HYUNDAI” Commuter Vans, which are not being manufactured in Pakistan. The sale of these vehicles is supported by complete after-sales service, through a 3’S dealership network. The company has a total of 22 dealers nationwide.
Short-term objective is to achieve a sales target of 25,000 Hyundai vehicles by the year 2005. This can easily be achieved on the basis of the demands of the Pakistani buyer and the fact that per person car ownership in Pakistan is amongst the lowest in the region and expected to rise in the near future.
The product line of DFML is
- Santro, Shehzore and Grace Van by HYUNDAI
- Sportage, Classic and Spectra by KIA
Dewan Farooque Motors Limited (DFML)
DFML offers a wide range of superior quality and cost competitive products to a market that was dominated by Japanese manufacturers.
Inventory
Introduction to Inventory Management System
(IMS)
Definition: Inventory Management is an enterprise-wide discipline concerned with the identification and tracking of Inventory Information Services (IIS) inventory and production line assets. Its three main areas of concern are:
- Acquisition
- Redeployment
- Termination
Acquisition procedures are established to assist personnel in procurement of inventory and production line products. Its main purpose is to ensure that proper justifications are performed and that financial guidelines are followed.
Redeployment procedures are responsible for ensuring that assets are tracked when moved from one location to another and that budgetary considerations are adjusted as needed. Should a product be moved in conjunction with its original owner, then the Inventory System is updated to reflect the new location. Should a product location and owner change, then the Inventory System must be updated to reflect the new owner and their location. In this case, the old product is deleted from the original owner's budget and added to the new owner's budget.
