Benton $(2020)$ stated that material management is a critical component of the supply chain and supports the flow of raw materials through the process of becoming finished products for the end consumers. He additionally indicated that, in alignment with labor, information, technology, and capital, materials are the lifeblood of any organization. Within your reading, you learned that there are five functions of inventory: $(1)$ pipeline inventory, $(2)$ cycle stocks, $(3)$ seasonal inventory, $(4)$ safety stocks, and $(5)$ decoupling stocks. They are fundamental to achieving smooth flow, reasonable equipment use, material handling costs, and good customer service. With changes in consumer behavior, rush orders can cost companies more. Taking into consideration fluctuating order quantities, along with supply chain disruptions, purchasing department managers must be able to make strategic purchasing decisions that become profitable inventory management decisions.

Based on your experience, explain material and inventory management through the information within the required reading and by conducting research online. Explain at least two strategies from the textbook and apply them to an organization you know or an organization you researched. Be sure to separate purchasing and material management strategies.