Managing INventory Throughtout the Supply Chain
Instructions: Read and review the concepts laid out in Chapter 11. Once you are comfortable with this material, answer the questions below. In 1-2 pages (double spaced, 12ft, Times New Roman), answer the questions completely and thoughtfully using concepts learned in the reading/in class.
1) How has the use of technology greatly improved many firms competency into keeping accurate inventory levels?
2) The book mentions the concept of safety stock. What are the plus and negatives of holding safety stock?
3) Let’s say that you’re a business that stuck with inventory that you can no longer use in its current form. What are some dynamic solutions that can be done to remove this inventory off of your book? Give an example of a product of your choice, think outside the box.