Part 1 This task is a portion of the inventory management plan that you have been developing for your company. Your inventory management plan should summarize the various components of the plan. The plan will include the following components: Redesign of inventory and supply chain management procedures Growth plan for operations to address the expanding needs of the company Standard operating procedures for inventory control to avoid losses

Part 2 There have been serious overstock and shortage issues in the last 18 months, resulting in lost customers. You have been asked to put together a plan on the following: How can the company better understand the customers' wants and needs? How can this knowledge work within the constraints of the company's current systems?

Part 3 In Part 3 you will put together a plan to do the following: Reduce lead time Reduce stock-keeping units (SKUs) Rank stock Identify obsolete stock Overall, your paper must be an executive-level assessment, strategy, and implementation plan for improving inventory procedures. You must address how this plan will positively impact the bottom line.

Outline

I. Introduction

1. Background information on ABC Company and the issues faced with inventory management

II. Part One - Processes and Growth

1. Supply Chain Management Process Redesign
   1. Current Supply Chain Management process
   2. Redesign of the Supply Chain Management process addressing shortage issues
   3. Benefits of the redesigned Supply Chain Management process
2. Inventory Process Redesign
   1. ABC Company's current Inventory Process
   2. Redesign of the Inventory Process to address overstock and shortage issues
3. Operational Growth
4. Enhancing Infrastructure and Capabilities
5. Boost manufacturing capacity
6. Modernize technology and procedures
7. Invest in research and development
8. Expanding the Client Base
9. Utilizing Present-Day Technology
   1. Invest in automation and artificial intelligence
   2. Data analytics opportunities
   3. Cloud-based services
10. Human Capital Investment
    1. Training and development of current personnel
    2. Leadership and management development investment

III. Part Two - Inventory Control and Management

1. Understanding needs, wants, and demands of customers
2. Plan customers' needs within the constraints of the company's current systems
3. Lead Time Reduction Plan
4. Stock-Keeping Units (SKUs) Reduction Plan
5. Stock Ranking Plan
6. Obsolete Stock Identification Plan

IV. Conclusion

1. Summary of the key findings and recommendations
2. Discussion of the potential impact on the bottom line
3. Recommendations for future work

V. References

1. List of references used in the paper, formatted according to APA style guidelines