Strategic Inventory Management
VerifiedAdded on 2019/10/18
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AI Summary
The assignment content discusses the importance of strategic purchasing and logistics in a supply chain, particularly with regards to inventory management. Inventory management is crucial for organizations to operate efficiently and achieve optimization in business operations. It also helps in managing customer relationships and balancing demand and supply. The content highlights two current trends in inventory management: manufacturing resource planning (MRP) and Just-In-Time Production (JIT). MRP improves organization functionality by planning resources, while JIT eliminates waste from overproduction, processing, and inventory.
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