Inventory Management (graded)
What is inventory management? Is inventory management really any more than just counting what is available in the warehouse and reporting that to operations? It’s a matter of buying more when you are short, and holding what you have for an emergency, right?
What kinds of inventory can we expect to manage? How are they different?
Just what is cycle counting? Do all companies need or use it? Provide an example of how your company or another company does or could incorporate cycle counting into its inventory system.
What are the functions of having inventory to start with? What’s good about having inventories and what, if anything, is bad about having inventories.
How do we use an ABC Analysis to manage our inventory?
What techniques can we use to control our inventories and insure the inventories are accurate?