Iscom305 wk 3 Taylor Incorporated Inventory Management Challenge

Feb 3rd, 2012
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Iscom305 wk 3 Taylor Incorporated Inventory Management Challenge Taylor Incorporated Inventory Management Challenge ,Inventory is a company’s form of insurance against supply chain uncertainty. “Companies cope with this uncertainty and try to avoid delays with their own form of “insurance,” inventory” (Russell & Taylor, 2009, p. 411). In order to meet customer and self needs, companies maintain inventory. According to Russell and Taylor (2009), there are three costs associated with inventory; carrying costs, ordering costs, and shortage costs.   Carrying costs: Costs of holding items in inventory Ordering costs: Costs associated with replenishing the stock of inventory being held. Shortage costs: When customer demand cannot be met because of insufficient inventory

1. How might materials requirement planning (MRP) be applied to the surgery suite of ahospital, scheduling university classes, a chain of restaurants, and hotel renovations?2. What are the strategic

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