Question.658 - Inventory is expensive. Consequently, companies are looking for ways to reduce inventory yet maintain high levels of customer service. In a short paper, evaluate strategies and approaches companies could use to possibly reduce inventory levels while maintaining competitive customer service levels. In the paper, be sure to include: Discuss how improvements in forecasting demand affect inventory decisions. Discuss how reductions in lead time can provide opportunities to reduce inventory without compromising customer service levels. Discuss how the use of technology could help to better control and manage inventory. Discuss how strategies such as vendor-managed inventory can be used to better control inventory costs.
Answer Below:
Inventory xx one xx the xxxx important xxx beneficial xxxxxxxxxx of xxxxxx chain xxxxxxxxxx Without xxxxxxxxxxx a xxxxxx chain xxxxxxx becomes xxxxxxxxxx Inventory xxxxxxxxxx is xxx supervision xx the xxxxxx chain xxxxxxx in xxxxxxxxxx the xxxx of xxxxx from xxx manufacturers xx the xxxxxxxxxx Inventory xxxxxxxxxx is xxxxxxxxx to xxxx sure xxxx all xxxxx and xxxxxxxx are xx stock xxx not xx dearth xx order xx meet xxx demands xx the xxxxxxxxx Demand xxxxxxxxxxx is xxx of xxx essential xxxxxxxxxx in xxxxxxxxx management xx ensure xxx stock xx the xxxxxxxx Through xxxxxx forecasting xxx customers' xxxxxx need xxx demand xxx any xxxxxxx and xxxxxxx is xxxxxxxxx and xxxxxxxx which xxxxx to x better xxxxxxxxxxxxxxx process xxxxxx Therefore xxxxxxx demand xxxxxxxxxxx supply xxxxx management xxx monitor xxx keep x tab xxxx the xxxxxx and xxxxxxxx which xxxxxxx manual xxxxx and xxxxx time xxxx will xxxxxxxxxxxx help xx generating xxxx revenues xxx improve xxxxxxxx service xxxxxx Lead xxxx has x direct xxxxxx on xxx inventory xx supply xxxxx management xxxxxxx when xxx lead xxxx is xxxx the xxxxx in xxxxxxxxx should xxxx be xxxx and xxxx will xxxxxxxx shipping xxxxx Therefore xxxx there xx a xxxxxxxxx in xxxx time xxxxxxxxxx will xx prevented xxxx Time xxxx time xxxx be xxxxxxx by xxxxxxx off xxx activities xxxx add xx value xx the xxxxxx chain xxxxxxx alternating xxx shipping xxxxxxx from xxxxxxxx to xxxxxxxxxxx getting xxxxxx to xxx raw xxxxxxxxx locally xxx not xxxxxxxxx on xxx international xxxxxxxxx because xxxx will xxxxxx lead xxxx by xxxxxxx off xxx transportation xxxxx Lead xxxx Moreover xxxxx placing xxx orders xxxxxxxx the xxxxxxx gets xxxxxxxx because xx delayed xxxxxxxxx or xxxxxx to xxxxx the xxxxxx on xxxx or xxxxx stock-outs xxxxxxxxx when x company xxxxxxxxxx a xxxx for xxxxxxxxxx the xxxxxx it xxxxxxx the xxxx time xxx this xxxxx to xxx reduction xx inventory xxxxxxx compromising xxxxxxxx services xxx to xxx advancement xx technology xxx world xxx come x long xxx and xxxx has xxxxxx easier xxxxxxx the xxxxxxxxxxxxxx of xxxxxxxxxxxx Similarly xxxxxxxxx management xxxxxxx more xxxxxxxxx through xxx use xx high xxxxx For xxxxxxxx the xxxxxxxxx process xx placing xxxxxx is xxxx through xxxxxxxxxx and xxx manually xxxxx will xxxx the xxxxxx chain xxxxxxx to xx smooth xxx not xx out xx stock xxx this xxxx increase xxx productivity xxxxx and xxxxxxx the xxxxxxxxx along xxxx reducing xxx lead xxxx Technology xxxx help xx organizing xxx warehouses xxx improve xxx efficiency xx customer xxxxxxxx Foster xxxxxxxxx the xxxx important xxxxxxxx that xxxxxxxxxx will xxxxxxx in xxxxxxxxx management xx to xxxxxxxx the xxxxxxxx and xxxxxxxxxxx process xxx strategies xxxx would xxxx in xxxxxxxxx the xxxxxxxxxx of xxxxxxxxx management xxxx One xx the xxxxx aspects xx inventory xxxxxxxxxx is xxxxxxxx the xxxxxx So xxxxxxx a xxxxxxx level xx stock xxxxx help xxxxxxxx the xxxxxxxxx management xxxxxxx when xxx level xx stocks xx feasible xx will xx easier xx fill xxx stocks xxxxxx it xxxx out xxxxxx Before xxxxxxxx the xxxxxxxxxxx it xx important xx understand xxx learn xxxxxxxxxx about xxx supply xxxxx process xxx have x good xxxxxxx into xxx process xx have xxxxxxx over xxxxxxxxx management xxxxxx Reducing xxxxxxxxxx is xxxxxxx effective xxxxxxxx to xxxxxxx inventory xxxxxxxxxx Cutting xxx the xxxxxxxxxx will xxxxxx a xxxxxxxxxxx path xxx the xxxxxxxxx to xxxx on x particular xxxx and xxxxxxxx productivity xxxxxx References xxxxxx S xxxxxxxx Supply xxxxx and xxxxxxxxxx nd xx Pearson xxxx Time xxxxxxxxx Finance xxxxxxxxx Retrieved xxxx https xxxxxxxxxxxxxxxxxxxxxxxxx com xxxxxxxxx knowledge xxxxx lead-time xxxxxx J xxxx to xxxxxxx Inventory xxxxxxxxxx Red xxxx Fulfillment xxxxxxxxx from xxxxx redstagfulfillment xxx -ways-improve-inventory-managementMore Articles From Operation Management
.ico)
.ico)
.ico)
.ico)
