Lesson 2.4- Inventory

  • Lesson 2.4- Inventory

    Learning Goals: By the end of this lesson you will be able to

    Understand the different systems of inventory control (e.g., just-in-time inventory, warehousing, overstocking, understocking);




    • Application Question: submit  the answer in the Discussion forum .

      Imagine you are the operations manager of a retail company that sells electronic gadgets. The company is considering adopting a new inventory management strategy to enhance efficiency and reduce costs. Based on the comparative analysis of Just-in-Time (JIT), Warehousing, Overstocking, and Under stocking, provide recommendations for the most suitable strategy for the company. Consider factors such as cost, efficiency, risk, and the specific nature of the electronics retail industry.

      Instructions:

      1. Discuss the key considerations for each inventory management strategy (JIT, Warehousing, Overstocking, and Understocking).
      2. Evaluate the potential benefits and drawbacks of each strategy in the context of the electronics retail industry.
      3. Provide a recommendation for the most appropriate inventory management strategy for the company, justifying your choice with reference to the analysis.


    • Discussion Forum 2.4 -

      Submit your application question here.

    • Read chapter 14


    • HOMEWORK

      Report due 16th Nov.

      Oral assessment and rough draft due Friday 15th Nov.

    • Lesson 2.4 Part 2
      The Impact of Technology on Channels of Distribution and Inventory Control Systems

    • Group Activity 

      • Divide students into small groups.
      • Assign each group a technology (e.g., GPS tracking, smart shelving).
      • Task: Research how this technology impacts distribution or inventory control, and present a brief explanation.