INVENTORY MANAGEMENT STRATEGIES
INVENTORY MANAGEMENT STRATEGIES
- Develop innovative and sustainable solutions to strategic and global operations management challenges.
- Apply theories, models, and practices of global operations management to address business problems.
More specifically, you will:
- Develop approaches to operations management to respond appropriately to strategic business needs.
- Formulate solutions to inventory management problems.
Activity InstructionFor this discussion, refer to Chapter 13 of your Operations Management: Creating Value Along the Supply Chain textbook, and review the case study Scientific Glass, Inc.: Inventory Management (2011) by Wheelwright and Schmidt. Respond to the following questions:
- Identify the two basic decisions addressed by inventory management and discuss why the responses to these decisions differ for continuous and periodic inventory systems.
- What were the problems facing Scientific Glass, Inc. in January 2010?
- How much external funding would have to been raised in 2010 in order to finance operations?
- How do Scientific Glass, Inc.’s problems illustrate the relationship between the number of warehouses and inventory levels?
- What alternatives are available for dealing with the inventory problems? How would you evaluate the alternatives?
- What actions should Eva Beane have proposed to Eric Gregory and Melissa Hayes?
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