Balancing Customer Needs
Business Finance
Overall 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.
3-4 pages not including title and reference pages. APA format w/ in-text citations.
Please reference attached documents to assist with completion of below assignment.
Part 1
This task is a portion of the inventory management plan that you have been developing for your company. Utilize your work from Weeks 1–3. 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
