Question: Project Title: Optimizing Inventory Management in a Manufacturing Company Project Overview: In this project, you'll explore various aspects of materials management and inventory control within

Project Title: "Optimizing Inventory Management in a Manufacturing Company" Project Overview: In this project, you'll explore various aspects of materials management and inventory control within a manufacturing company. The goal is to analyze existing inventory practices, identify inefficiencies, and propose solutions for better management. Project Tasks: 1. Inventory Classification: o Research different inventory classification methods (e.g., ABC analysis, XYZ analysis). 2. Inventory Replenishment Strategies: o Investigate common replenishment strategies (e.g., reorder point, economic order quantity). 3. Technology Solutions: o Explore inventory management software systems (e.g., ERP, WMS). o Compare different software options and their features. 4. Risk Management: o Identify potential risks related to inventory (e.g., stockouts, overstocking, obsolescence). Deliverables: A comprehensive report detailing your findings, recommendations, and implementation steps. Visual aids (charts, graphs) to support your analysis. A presentation summarizing key points for stakeholders

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