ISCOM 374 Inventory and Purchasing Considerations -
Based on your Learning Team's earlier work, your department's
forecasting recommendation has made vast improvements to the
Hangzhou, China on-time deliveries. However, the company president
has concerns the resin inventory levels are not ordered in the most
optimal quantities. The purchasing department needs your team's help
on when and how much to order.
Prepare a 700-word paper defining inventory management and how
inventory relates to costs. Conclude with a recommendation to use an
inventory ordering strategy keeping in mind the certainty or uncertainty
of the customer demand at the Hangzhou, China location.
Discuss inventory management and differentiate between carrying,
ordering, and stock-out costs.
Identify and discuss the strategies of when to order (re-order points -
ROP) and how to order (economic order quantities - EOQ).
Analyze the impact that using one of these strategies has on inventory
levels and associated costs.
Format your presentation consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.