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Discussion: How Do We Fix It? Inventory Management

Introduction As you learned from the video, inventory management is important to customer satisfaction and the company's bottom line. Recently your business has been having problems with its inventory management system. Costs are high and turnover is low resulting in a low net income. As the Operations Manager, it is your duty to try to improve this system. For this discussion, you will appraise the effectiveness of incorporating an inventory management process and examine strategies used to improve a company's overall viability.

Instructions

Think about the challenges in the scenario above. Based on your past experience (if you've encountered such a problem) and the readings for this week, explain to your peers how you would address the problem.  How would you determine the most efficient way to incorporate a process to manage your inventory?  What inventory management strategies would you apply and why?

Respond to two of your peers and discuss the effectiveness and efficiency of their solution. How does it differ from yours? Discuss alternative solutions for you both.

Evaluation

The following materials will outline the structure of a discussion, how to submit and reply to a discussion posting, and how your work will be evaluated using the rubric grading tool. Please review them carefully and post any questions you have in the module Q&A discussion forum. Review the rubric carefully and contact your instructor if anything is unclear to you.

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