Professional Diploma in Logistics and Transport
Assignments
Unit Title: Inventory
Reference: AO/QUA/0250
Notes to Learners General:
- Your initial submission must include ALL assignments. If one or more assignment(s) are referred, you can re-submit these on an individual basis, but not in the first instance.
- The questions are designed to test your understanding of the theories/principles involved and their application.
- The answer should be relevant and concise.
- Examples are always welcome and, if specifically asked for, they must be included.
- The marks will be based on your knowledge of fundamental elements, use of programme content, your conclusions/recommendations and presentation.
- Each assignment is marked out of 100, with a 50% pass mark. Full marking criteria can be found at Appendix A.
- You must not copy or reproduce material from another source without using appropriate referencing, see notes on referencing below.
- Referencing: Your work must be referenced and there are a number of referencing systems but the Harvard system is recommended. Harvard: author and date must appear in the text and again in the references at the end of your work in alphabetical order of author's surnames. Do not keep web references separate and do include the date accessed. Do not put references in footnotes.
- Remember, you are aiming for accuracy and consistency.
Expected Assignment Format:
- Each assignment should consist of between 2,500 and 3,000 words. You must clearly show the number of words used (excluding appendices, diagrams, cover sheet etc.).
- Each assignment should be submitted with a separate cover sheet included here at Appendix B. Section A of this cover sheet must be completed, in full, prior to submission.
- You must ensure the correct assignment number, title and assignment question are included on the cover sheet.
- You should use font 12 point Arial, 1.5 spaced and standard margins.
- Assignments should be stapled in the top left hand corner.
Assignment 1 - Stock Management
Element: PD05-1 What is Inventory Management?
PD05-3 Modern Inventory Systems
For a supply chain or warehouse of your choice:
a) Briefly describe the supply chain or warehouse and then carry out a Pareto analysis on the inventory holding and present the results.
b) Analyse and discuss these results and explain the implications on your inventory planning policy.
c) Devise two more sophisticated and modern tools/techniques to manage the inventory and choose one of these for use in your warehouse, justifying the reasons for your choice.
Assignment 2 - Inventory Principles
Element: PD05-1 What is Inventory Management?
PD05-2 Inventory Principles
A new Director of Logistics has been appointed in your electronics consumer products company and you have been asked to write a briefing report about the inventory held within your supply chain. He has asked that the report meets the following requirements:
a) Discuss and define the types of inventory which are held at each level of the supply chain and give justifications for the necessity of holding the stock.
b) Compare the costs of holding this stock with the risks of the supply chain breaking down and justify the inventory policy employed.
c) Demonstrate how this inventory policy supports the overall company financial objectives and the performance measures that illustrate this.
Assignment 3 - Managing Inventory Systems
Element: PD04-2 - PD05-2 Inventory Principles
PD05-3 Modern Inventory Systems
You have recently been appointed Supply Chain Manager for a small, but rapidly growing specialist retail store. The organisation has previously relied on manual stock recording methods using stock cards. The directors have recently invested in e-tailing, initially using an e-auction outlet, but have now invested in a full retail website. This has resulted in a significant increase in sales volume and the directors now want to expand the product range extensively to boost the sales. They have asked you to write a plan of how the inventory systems will be managed through this expansion programme. In a report format:
a) Describe the limitations of the current inventory control system and propose the changes you would recommend to modernise and upgrade it.
b) Critically compare methods that could be used to calculate the re-order point for product lines. Summarise your choice and how this would benefit the company.
c) Discuss your plan explaining the risks to a successful implementation, and how these risks can be limited and controlled.
Assignment 4 - Strategic Systems Development
Element: PD05-3 Modern Inventory Systems
PD05-4 Managing Through a Network
A multinational consumer electronics company sells via wholesale worldwide and through a network of its own retail stores in the UK. The company has set up a new retail division which allows customers to configure their own products from a menu of options and place orders online for delivery direct to the customer.
a) Evaluate the effectiveness of the current network business model prior to the addition of the new on-line retail division and explain your view of the impact on likely inventory models.
b) Discuss the benefits and risks to the effectiveness of inventory systems of the new division including any impact on efficiency.
c) Compare and contrast alternative e-commerce inventory/distribution strategies the company may adopt which will reduce costs whilst maintaining the service levels in the existing business model.