Inventory Management and Customer Satisfaction Discussion
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Inventory Management and Customer Satisfaction Discussion
I’m working on a business discussion question and need an explanation and answer to help me learn.
As you learned from the video, inventory management is important to customer satisfaction and the company’s bottom line. Recently your business has been having problems with its inventory management system. Costs are high and turnover is low resulting in a low net income.
As the Operations Manager, it is your duty to try to improve this system. For this discussion, you will appraise the effectiveness of incorporating an inventory management process and examine strategies used to improve a company’s overall viability.
Cachon, G., & Terwiesch, C. (2020). Operations Management. New York, NY: Mcgraw Hill.
Think about the challenges in the scenario above.
- Based on your past experience (if you’ve encountered such a problem) and the readings for this week, explain to your peers how you would address the problem.
- How would you determine the most efficient way to incorporate a process to manage your inventory?
- What inventory management strategies would you apply and why
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