Inventory Management

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Description

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.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: INVENTORY MANAGEMENT

Inventory Management
Student’s name
Institution’s name

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INVENTORY MANAGEMENT

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Inventory Management
Introduction
Inventory management is a component of supply chain management. It involves the
management of stock and records. It has aspects such as controlling order inventory, inventory
storage and control of the product for sale. Apple Company and Walmart Stores are two companies
that rock in inventory management. The aim of this paper is to establish the inventories that these
companies manage. It will analyze the manner by which product and service design concepts are
integrated. The paper will evaluate the role of the inventory in the company’s performance. The
layouts of the two companies will be evaluated as well as evaluation of the supply chain
performance of the two companies.
Types of Inventories
Apple Company
This company currently manages two types of inventory. The first inventory it manages is
the balance sheet inventory. This inventory deal with finished goods and components (work in
process). The inventory that is reported at the end of a particular period is broken down into two
categories. For example, the company reported an inventory of $2.1 billion at the end of its
quarterly findings. This figure was broken down into finished goods, $1.6 billion and components,
$523 million.
The other inventory that the company manages is the off-balance sheet Inventory. This
category is comprised of recognized revenues or expenses which do not appear on the balance
sheet. The company is aware that the revenues do exist, however; the assets or liabilities are not

INVENTORY MANAGEMENT

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recorded on the balance sheet. These assets are not recognized as the legal property of the
company. In the case of liabilities, the company is not recognized as legally responsible for them.
Walmart stores
They manage several types of inventories. They have the finished goods inventory and the
transit inventory. The finished good inventory involves delivery of products to the company’s
stores for operation support. The products are kept in the storage for some short time and then
stored to customers. The finished goods inventory is expected to be restocked often. The transit
inventory has significance in supporting the business operations. It deals absolutely with goods
that are being held in transit. It manages the goods which have already the shipping anchorage of
the seller but are yet to reach the customer’s shipping dock.
The other category of inventory is the buffer i...


Anonymous
Excellent resource! Really helped me get the gist of things.

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