Assignment task: Inventory Management
Effective inventory management requires careful planning and coordination, including forecasting demand, managing orders and shipments, and tracking inventory levels. Inventory management involves managing costs and optimizing inventory turnover to ensure that inventory is being used efficiently. The intersection of information technology and inventory management has enhanced today's supply chain.
Research an organization incorporating an enterprise resource planning system such as SAP, Oracle, Microsoft Dynamics, or Infor CloudSuite.
1. Based on your research, what was the organization deciding factor in implementing an ERP system?
2. To minimize cost, an organization will decide on an inventory system. Contrast continuous and periodic inventory systems. Which system would be ideal for your researched organization?
3. How have advances in information technology impacted the role of inventory management?
Make sure you are supporting your answers fully with research, including citations and references.