Study Guide
In the textbook PPT, learn the types of inventories and the cost implications of keeping such inventories.
Read textbook about EPP in slide 9 and compare it with fair trade practice we learned earlier of Starbucks purchasing programs. Learn the topics in slides 14 and 18. Skip the rest of the slides.
In my PPT, I repeated the types of inventories, expanded the decisions and costs of inventory management, and added examples of ABC, Lean, and JIT.
Read up and Google these terms. Please also try to make sense of the retail inventory trends in slide 6.
Watch the two videos on Amazon, what are the emphases in receiving and order fulfillment? What management practices do you see?
Watch the videos on managing stock-outs. What are the consequences of a stock out?
Learn how Frito Lay manages its inventory in different stages of being finished and sold. What are the lessons learned.
Learn about VMI, ABC inventory management, and JIT.
Does it make sense to buy in bulk as depicted in the video Big Bang Theory? What type of products would make sense to buy in bulk? What are the benefits for the manufacturer and the consumer with bulk purchases?