Problem
A. You are an inventory control manager and would like to maintain a high level of accuracy and not cost the company any money. How much inventory should you order at one time and when would you place an order? Provide a detailed explanation.
B. In the linear supply chain, there is supply and demand between two business units. How is inventory related and how can it be affected?
C. What are the costs associated with inventory and order quantity? How and when will they increase and/or decrease?
D. Imagine a scenario when an inventory manager is about to order products; how would you use the following terms and concepts - Order point, Safety stock, Stockout, Service level, and Lead time? Please use these concepts in a way that shows complete understanding of what happens in the inventory control department.
E. When talking about a warehouse or a distribution centre we are referring to a place or a business unit that stores the products. Some of the main functions are receiving, put away of products, picking, packing and finally shipping. How would you explain these steps in detail?
F. What is SKU? Why is it important? When exactly is it used in a warehouse environment?
G. What is cycle counting? Why is it important? What are some of its advantages?
H. The moment the product is physically entered into the warehouse, what technology can be used to receive the product, pick it and then ship it?