Description
Based on your reading for this week, answer one of the questions below:How might different functional areas of an organization have different inventory management objectives?How would you meet management’s challenge of balancing inventory? What tools and/or theoretical formulas would you utilize? Explain why.How do you differentiate cycle, safety, pipeline, and speculative inventory? Why do we need to do so?What is inventory carrying cost? Explain the primary components.What is the tradeoff between inventory ordering and carrying cost?What are stock-out costs? How should you calculate the cost?Summarize your thoughts in a Word document. Your answer should be at least 800 words in length.
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Week Two: Assigned Reading
Assigned Readings:
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Piasecki, D. (2001). Optimizing economic order quantity. llE Solutions, 33(1), 30-39. Retrieved
from
http://ezproxy.bellevue.edu:80/login?auth=bb&url=http://search.ebscohost.com/login.aspx?direct=
true&db=edsbig&AN=edsbig.A71123746&site=eds-live
Hill, A., V. & Zhang, W. (2010). Six common misuses of the inventory turnover and days on hand
metrics. Production and Inventory Management Journal, 46(1), 36-45. Retrieved from
http://ezproxy.bellevue.edu:80/login?auth=bb&url=https://search.proquest.com/docview/7613347
41?accountid=28125
Khorrami, B. (2001). Static and dynamic inventory models under inflation, time value of money
and permissible delay in payment (Master’s thesis). Available from ProQuest Dissertations
Publishing (Order No.1405803). Retrieved from
http://ezproxy.bellevue.edu:80/login?auth=bb&url=https://search.proquest.com/docview/3047233
09?accountid=28125
Aswathappa, K., & Bhat, S. (2010). Chapters 6 & 9. Production and operations management.
Himalaya Pub. House. Retrieved from
http://ezproxy.bellevue.edu:80/login?auth=bb&url=https://ebookcentral.proquest.com/lib/bellevueebooks/detail.action?docID=3011444
Kumar, S. A., & Suresh, N. (2009). Chapters 1 & 2. Operations management. New Delhi: New
Age International Publishers. Retrieved from
http://ezproxy.bellevue.edu/login?auth=bb&url=http://search.ebscohost.com/login.aspx?direct=tru
e&db=nlebk&AN=281510&site=eds-live&ebv=EB&ppid=pp_Cover
Muller, M. (2nd ed.) (2011). Chapters 1, 2, & 5. Essentials of inventory management. New York:
AMACO. Retrieved from
http://ezproxy.bellevue.edu/login?auth=bb&url=https://ebookcentral.proquest.com/lib/bellevueebooks/detail.action?docID=678727
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