please help me with this question a. In a report you are required elaborate on the critique of strategic importance of procurement and Discuss the roles of inventory in the supply chain (balancing supply and demand and Buffering against uncertainties) in relation to Apple Inc.And please provide references The benefit of keeping inventory levels so low is twofold. First, large inventory balances mean thatcash remains tied up in the supply chain, which is usually not good news. Part of the reason whyApple has managed to generate so much cash in the past decade or more is the company's ability tomanage working capital (which includes inventory) so well.Second, low inventories allow Apple to be more nimble. With the multiple product refreshes eachyear, the Cupertino company can afford to have the latest devices available for purchase withouthaving to discount older models too deeply, or risk having its product stock become obsolete. Apple: Kings of Inventory ManagementAppleApple's fiscal third quarter P&L results were impressive. But one balance sheet item also caught myattention. Despite the COVID-19 disruptions, Apple still seems to be the king of inventorymanagement. When Apple reported fiscal third quarter earnings, on July 30, the conversationrevolved around income statement performance. In other words: how well the iPhone had sold, howmuch revenue growth the services segment experienced, how margins behaved, etc.But one balance sheet item caught my attention. Despite the 11% increase in product revenues in thequarter, Apple's inventory dropped by over 3% year over year. Even in an environment of demanduncertainty and disruptions caused by the COVID-19 crisis, Apple seems to have managed its supplychain tightly.Best-in-classA couple of months ago, I talked about how Apple's inventory management practices have beenworld class. CEO Tim Cook's attitude towards it helps to explain the company's obsession:"Inventory is fundamentally evil. You kind of want to manage it like you're in the dairy business. If itgets past its freshness date, you have a problem."So what?Apple's days inventory outstanding, which measures how long inventory sits in stock before beingsold, also increased slightly in 2020 over last year's levels. Yet, the less than 10 days on average havebeen substantially better than Sony's and Intel's one month or longer.

Strategic procurement refers to the process of checking the supply cycle of the organization in…

In a report you are required elaborate on the critique of strategic importance of procurement and Discuss the roles of inventory in the supply chain (balancing supply and demand and Buffering against uncertainties) in relation to Apple Inc.

In a report you are required elaborate on the critique of strategic importance of procurement and Discuss the roles of inventory in the supply chain (balancing supply and demand and Buffering against uncertainties) in relation to Apple Inc.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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