Question: Inventory management is critical for having sufficient quantities available to meet demand. Review what you know about customers and the influences on their buying behavior,

Inventory management is critical for having sufficient quantities available to meet demand. Review what you know about customers and the influences on their buying behavior, the competitive environment, and distribution decisions you've already made. Are there certain occasions or times of the year when it's particularly important to avoid running out of products? For example, should retailers have extra inventory to meet holiday-shopping demand during November and December? Remember that having a lot of inventory means investing heavily in goods well in advance of when they'll sell, if your organization can afford to do this. Also keep your marketing objectives in mindbecause if you don't have sufficient inventory at the right time, you can't meet your sales objectives, for example. Now write 2-3 sentences about your ideas for inventory management, plus a sentence about the implications for the timing of implementation.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!