Question: Based on your reading for this week, answer one of the questions below: How might different functional areas of an organization have different inventory management

Based on your reading for this week, answer one of the questions below:

  • How might different functional areas of an organization have different inventory management objectives?
  • How would you meet management's challenge of balancing inventory? What tools and/or theoretical formulas would you utilize? Explain why.
  • How do you differentiate cycle, safety, pipeline, and speculative inventory? Why do we need to do so?
  • What is inventory carrying cost? Explain the primary components.
  • What is the tradeoff between inventory ordering and carrying cost?
  • What are stock-out costs? How should you calculate the cost?

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