1. Executive Management Inventory Presentation

2. Introduction Presentation Rationale Explanation of Current Inventory System Meaning of an Inventory Control System Primary Data Arrangement of Values With At Least one variable Mean, Median, Mode Predictable Error and Extent

3. Inventory System Meaning Reason for the standard procedure Merchandise computer code Radio Frequency Identification or RFID Physical Inventory

4. Raw Data Table 1 UOP Summer Historical Inventory Data Monthly Inventory History Year 1Year 2Year 3Year 4 Jan18,00045,10059,80035,500 Feb19,80046,53030,74051,250 Mar15,70022,10047,80034,400 April53,60041,35073,89068,000 May83,20046,00060,20068,100 June72,90041,80055,20061,100 July55,20039,80032,18062,300 Aug57,35064,10038,60066,500 Sept15,40047,60025,02031,400 Oct27,70043,05051,30036,500 Nov21,40039,30031,79016,800 Dec17,10010,30031,10018,900

5. Finding Center: Mean

6. Finding Center: Median&Mode 10300 15400 15700 16800 17100 18000 18900 19800 21400 22100 25020 27700 30740 31100 31400 31790 32180 34400 35500 36500 38600 39300 39800 41350 41800 43050 45100 46000 46530 47600 47800 51250 51300 53600 55200 57350 59800 60200 61100 62300 64100 66500 68000 68100 72900 73890 83200 Mode = 55,200 Median = 41,575

7. Frequency Distribution

8. Normal Distribution

9. Standard Deviation and Range (Total divided by one less than # of data points) Data Points = 48 15825042448 / 47 = 336703031 Square Root of 336703031 = 18349.469 Standard Deviation of this Inventory = 18,349.47 The Range of the Summer Inventory Data is 10,300 to 83,200 or 72,900

10. Histogram

11. Conclusion Summer Historical Inventory Data of the University of Phoenix used in managing inventory An increase can be expected basing on the trend each year. The RFID inventory management system used by Wal_mart should be used by management.

12. References Lial, M., Hestwood, D., Hornsby, J., & McGinnis, T. (2010). Quantitative Reasoning for Business. Boston, MA: Pearson/Addison-Wesley. LogCluster. (2012). Inventory management guidelines proposal. Retrieved http://log.logcluster.org/../....pdf Microsoft. (2012). Microsoft Excel© [computer software]. Redmond, Washington: Microsoft. Sevilla, A., & Somers, K. (2007). Quantitative Reasoning: Tools for Today’s Informed Citizen. Emeryville, CA: Key College Publishing University of Phoenix. (2008). Summer Historical Inventory Data. Retrieved from University of Phoenix, Materials. QRB/501-Quantitative Reasoning for Business Course Web site. Webster’s Online Dictionary (2012). Common expressions: Inventory control system. Retrieved from http://www.websters-online- dictionary.org/definitions/Inventory+control+system