Assignment 2: Inventory Management

Instructions

Research two (2) manufacturing or two (2) service companies that manage inventory and complete this assignment.Write a five to seven (5-7) page paper in which you:Determine the types of inventories these companies currently manage and describe their essential inventory characteristics.Analyze how each of their goods and service design concepts are integrated.Evaluate the role their inventory plays in the company's performance, operational efficiency, and customer satisfaction.Compare and contrast the four (4) different types of layouts found with each company; explain the importance of the layouts to the company's manufacturing or service operations.Determine at least two (2) metrics to evaluate supply chain performance of the companies; suggest improvements to the design and operations of their supply chains based on those metrics.Suggest ways to improve the inventory management for each of the companies without affecting operations and the customer benefit package. Provide a rationale to support the suggestion.Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

Answer

IntroductionWhile it is important to focus on production, sales, and marketing, it is also essential to consider inventory management. Inventory management is an area of significant value to leading manufacturing companies. If it is done right, inventory management has the potential of improving cash flow, propelling a company to better efficiency, and optimization of production. On the other hand, poor inventory management ties up cash, leading to increased waste, higher costs, reduced rates of production as a result of stock-outs, and lower efficiency. To improve benefits and reduce risks associated with poor inventory management, established manufacturing companies, such as Toyota and Pfizer are moving swiftly to adopt agile inventory management systems. Smaller manufacturing companies...
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