What role does inventory management play in an overall business plan and describe the benefits of just in time inventory management. Describe one of the methods for managing cash disbursements or cash receipts and how it impacts profitability.
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What role does inventory management play in an overall business plan and describe
the benefits of just in time inventory management.
Describe one of the methods for managing cash disbursements or cash receipts and
how it impacts profitability.
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Solved in 2 steps
- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.Explain how inventory expenses must be balanced and kept to a minimum through inventory control?Explain what are the advantages of inventory control?
- What is inventory management? Why is it important? Identify an example of a inventory system with which you have worked (You can even describe one you use at home for groceries or other items). Discuss how it was managed. Could you have used any of the models discussed in this unit? please send new answer. Thank you so much!Briefly describe the concept of inventory management and how it can help the organization in supporting effectiveness and efficiency?1. What is the main source of income for a buying and selling company? 2. Between the operational cycle of a service company and a buying and selling company, which is the longest? 3. What inventory systems do you know are used in a buying and selling business? 4. What are the important factors in using a perpetual inventory system?
- Expound to management at First Bite, the best practices to consider prior to acquiring the automated inventorymanagement system.Why would a "Just in Case" or traditional inventory management practices be preferred to a "Just in Time" inventory management?How do you assess the criticality of the inventory shortage as a store manager?
- H&M, a Fashion Giant, Has a Problem: $4.3 Billion in Unsold Clothes. This was reported by the New York Times on March 27, 2018. Here is a short excerpt. I have provided the full story in a Word document attached to this discussion. It is a little dated but again inventory issues continued during the pandemic. Overall, this exemplifies the challenges of maintaining correct inventory levels since there is a lot of money held in excess inventory. “In the world of fashion retailing, where shopping is fast moving online and stores try to keep inventories closely matched to sales, even a small stack of unsold clothes can be a bad sign. What about a $4.3 billion pile of shirts, dresses and accessories? That is the problem facing H&M, the Swedish fashion retailer, which is struggling with a mounting stack of unsold inventory. Signs of its expanding unsold inventory began emerging last year, when it reported an unexpected quarterly drop in sales. The decline was the first in two…H&M, a Fashion Giant, Has a Problem: $4.3 Billion in Unsold Clothes. This was reported by the New York Times on March 27, 2018. Here is a short excerpt. I have provided the full story in a word document attached to this discussion. It is a little dated but again inventory issues continued during the pandemic. Overall, this exemplifies the challenges of maintaining correct inventory levels since there is a lot of money held in excess inventory. “In the world of fashion retailing, where shopping is fast moving online and stores try to keep inventories closely matched to sales, even a small stack of unsold clothes can be a bad sign. What about a $4.3 billion pile of shirts, dresses and accessories? That is the problem facing H&M, the Swedish fashion retailer, which is struggling with a mounting stack of unsold inventory. Signs of its expanding unsold inventory began emerging last year, when it reported an unexpected quarterly drop in sales. The decline was the first in two…What are 3 potential risks associated with replacing the inventory management system, and how can they be mitigated?