Explain why inventory costs and inventory levels have declined relative to GDP over the last 20 years. Is this beneficial to the economy? Why or why not?
Answer to relevant QuestionsExplain the essential characteristics of MRP, DRP, and VMI. How do they operate with each other to provide a systematic approach to managing supply chain inventories? Explain the differences between inventory carrying costs and ordering costs. Describe the major challenges faced by transportation managers in the current environment. What are the primary capabilities, advantages, and disadvantages of direct distribution, DCs, and cross-docks? Discuss the role of logistics variables in the decision as to where to locate a plant or distribution center.
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