​Management of Inventories

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Wfnjlre4

Business Finance

Description

Management of Inventories" Please respond to the following:

  • From the first e-Activity, examine the best practices found in the video on inventory management.
  • From the second e-Activity, choose two service companies that manage inventory and compare and contrast their inventory management systems.
  • Based on your evaluation of both inventory management systems from Part 2 of this discussion, propose suggestions to management that would ultimately lead to improve operations.

These are from the e-Activity


  • Use the Internet to research service or product companies; take a note on how they manage their inventories. Be prepared to discuss.

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Explanation & Answer

Attached.

Running Head: INVENTORY MANAGEMENT

Management of Inventories
Name
Institution
Date

1

INVENTORY MANAGEMENT

2

Inventory management is the process of overseeing and managing the stocks and
inventory of a company through ordering, storing, controlling and supervising their flow from
the manufacturing process to the warehouse until they are sold. It is a process that involves
establishing, reporting and provision of the correct measures to be taken in the event that
stocks are depleted, changes in design, defects discovered, misplacement of inventory, and
shrinkage of the inventory (Bauer et al., 2012). Effective inventory management can results
to improved customer service due to the availability of inventory and timely distribution, time
and costs saved reduction in the value of the inventory is avoided as well as unnecessar...


Anonymous
I was having a hard time with this subject, and this was a great help.

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