GSCM206 Discussions Week 6

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GSCM206 Discussions Week 6
Identify the critical role of inventory management for balancing the investment costs with customer service…

 

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GSCM206 Discussions Week 6

GSCM206 Discussions Week 6

All Students Posts 68 Pages 

Inventory Management – 35 Pages 

Identify the critical role of inventory management for balancing the investment costs with customer service. Identify and describe the four types of inventory. Companies often times use what we call a “pull” system to control and reduce inventory. What is the difference between a “push” and a “pull” system? If we do not have any “inconsistencies” in inventory management can we eliminate safety stock? Why or why not?

Companies often times use what we call a “pull” system to control and reduce inventory. What is the difference between a “push” and a “pull” system?  How do you see the company you work for operating; with a Push or a Pull system?  The next question one might ask is if the customer is the only one that authorizes us to produce product, what do the employees do when there are no customer orders?

If we do not have any “inconsistencies” in inventory management can we eliminate safety stock? Why or why not? How does safety stock improve a company’s customer service level?  Is inventory an asset or a liability? How do we determine if it is an asset or a liability? Please provide specific examples…

Materials Requirements Planning and ERP – 33 Pages

Consider the planning process and structure for developing a master production schedule (MPS) and materials requirements planning (MRP). Identify the advances and integration effects of ERP. Has anyone ever participated in a physical count of inventory? If so, how long did it take? Material Requirement Planning systems are only as good as the information that is imputed into them.

If you input wrong information (such as wrong inventory counts), you’re going to get wrong information back.  When this happens, items that are sold are no longer in-stock; even though the system shows it’s available. To help solve this problem, many companies use Cycle Counting.

What is Cycle Counting and what is the advantages of using it? Define what the Bill of Material is?  As a flow-over from the inventory management discussion thread, How does an ABC approach improve inventory management?…