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Assignment 2: Inventory Management

Due Week 8 and worth 300 points

Research two (2) manufacturing or two (2) service companies that manage inventory and complete this assignment.

Write a six to eight (6-8) page paper in which you:

  1. Determine the types of inventories these companies currently manage and describe their essential inventory characteristics.
  2. Analyze how each of their goods and service design concepts are integrated.
  3. Evaluate the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.
  4. Compare and contrast the four (4) different types of layouts found with each company; explain the importance of the layouts to the company’s manufacturing or service operations.
  5. Determine at least two (2) metrics to evaluate supply chain performance of the companies; suggest improvements to the design and operations of their supply chains based on those metrics.
  6. Suggest ways to improve the inventory management for each of the companies without affecting operations and the customer benefit package. Provide a rationale to support the suggestion.
  7. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Evaluate the processes used in designing and producing goods and services.
  • Determine four layout patterns and when they should be used.
  • Utilize the concept of supply chain management.
  • Employ the concept of capacity management.
  • Evaluate the management of inventories and resources.
  • Use technology and information resources to research issues in operations management.
  • Write clearly and concisely about operations management using proper writing mechanics.

Click here to view the grading rubric for this assignment.

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Explanation & Answer

COMPLETED: Kindly confirm the paper and let me know if its okayIn case of anything, I am waiting to fix it right away.

Running head: INVENTORY MANAGEMENT

Inventory Management: Volkswagen and Nokia
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INVENTORY MANAGEMENT

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Introduction
Every company irrespective of the type of product or service that it sells holds a form of
inventory in its daily business operations. There are various ways of holding inventory, such; in
the form of finished goods or work in progress. Work in progress is a measure of how far or how
much-unfinished products are available, especially in terms raw materials in the manufacturing
sector. Inventories lie in the category of current assets of a company since they have a defined
economic value and can also be itemized in every book of account (Yu-Lee, 2002). However, it
is not advisable to hold excess inventory since it can lead to unnecessary cost such as holding
cost as well as affecting working capital of a company. This can greatly affect the normal
operation of a company. Each company should ensure that at any given time, its inventory is at
optimum and holding fewer inventories that are required. Holding less inventory may lead to
disruptions in supply to clients which may result in a company losing its market share to its
competitors. There should be an inventory management unit whose responsibility is to
continuously monitor inventory levels, planning, and advising decision makers in matters
relating to inventory and the overall management of a company (Production and inventory
management, 1991).

Types of inventories currently manage by Volkswagen and Nokia

For this discussion, I have decided to choose two reputable multinational companies, and
they include Volkswagen and Nokia. This two companies like any other company manage
inventories in their daily business operations. Volkswagen is a multinational company that is
based in Germany which deals in automotive. Nokia, on the other hand, is a company based in
Finland and it deals with telecommunication equipment. Both of these companies are market

INVENTORY MANAGEMENT

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leaders in their respective industries and has remained in the market for some time. These
companies’ deals with different products and even their assembling processes are also different
in many ways. Eac...


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