Business Operations Management DB4

May 14th, 2015
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Using the Library, corporate websites and other online resources, locate a firm that incorporates inventory management. 1. Identify the type of inventory system (fixed order quantity system, fixed order period system, or a hybrid system) it uses. 2. Indicate the type of inventory issues the firm has such as stock out costs, carrying costs, order quantity issues, safety stock and EOQ issue. 3. In your opinion, is their system appropriate for the firm’s business?

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Business OperationsBusiness Operations Management DB4NameClassDateProfessor1Business Operations2Business Operations Management DB4In order to prevent loss a company needs to employ an effective inventory managementsystem. In order to effectively manage inventory the inventory management system must meetthe needs of the organization in managing inventory levels and provide cost of goodscalculations. The two most common types of inventory systems used to manage the inventorysystems of the organization include the fixed order quantity system, fixed order period system ora hybrid system developed by the organization.In the fixed order period model the product or inventory is replaced within a specific timeinterval. The orders are placed for the items that need to be replenished within the time intervalthat has been assigned. Applebees employees the fixed order period interval inventorymanagement system to ensure the needed inventory is available to the customer. BecauseApplebees functions based on a menu the products for that menu and to service the needs of thecustomer must be filled on a weekly basis in order to meet the orders they place in the resta

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