I Need help with IP-5
Parts 1 and 2
This task is a portion of the inventory management plan that you have been developing for your company. Utilize your work from Weeks 1–4, incorporating feedback from your instructor and peers. Your inventory management plan should summarize the various components of the plan.
The plan will include the following components:
- Redesign of inventory and supply chain management procedures
- Growth plan for operations to address the expanding needs of the company
- Standard operating procedures for inventory control to avoid losses
- How the company can better understand the customers' wants and needs and utilize this knowledge within the constraints of the company's current systems
For the final component of your Key Assignment in Week 5, you will put together a plan to do the following:
- Reduce lead time
- Reduce stock-keeping units (SKUs)
- Rank stock
- Identify obsolete stock
Your final paper must be an executive-level assessment, strategy, and implementation plan for improving inventory procedures. You must address how this plan will positively impact the bottom line.
The final Key Assignment is a compilation of your work from Weeks 1–5