Critical Reflection on Inventory Management and Challenging Beliefs

This assignment presents a student's reflection on inventory management and organizational beliefs, drawing insights from chapters discussing inventory management's importance and the misconceptions surrounding established principles. The reflection highlights the challenges of maintaining adequate stock, especially during high demand, and the complexities faced by retailers, wholesalers, and manufacturers in managing inventory. The student emphasizes the concept of 'compensating feedback' and the importance of addressing the root causes of problems. The reflection concludes with lessons learned about supply chain management, the dangers of unchecked growth, and the cautionary tale of Enron, advocating for a balanced approach to organizational development and learning.

Chapter 3 and 4 reflection
The two chapters I read related to inventory management and various misconceptions
regarding beliefs in life. The third chapter suggests that Inventory management is a vital part
of any business and can be critical for its success, while the fourth chapter clarify that the
numerous principle that we have been thinking holds true in the real world, seems to be a
myth.
The chapter was a revelation regarding the hard work and the challenges of maintaining an
adequate supply of stocks, especially during high demand periods. I was shocked with the
confusion that can happen at stocking up inventory and the struggle that goes along with it.
The chapter described the inventory management from various perspectives – the retailer,
wholesaler and manufacturer. It helped me to understand the psyche that goes in maintaining
a decent stock of products in a warehouse. With the help of the concepts learned from this
chapter, I can implement a better management of stocks and inventory control in any future
organisation that I work for. (Senge, 2014)
The most astounding part of the chapter had been the “compensating feedback”. I was
surprised to know that the efforts we put in, are generally not reflected in the positive
outcome or benefits accruing from the same. Probably, such case is because the expectations
are more than the real outcomes derived from the efforts out. Further, numerous times we feel
that we have solved a certain problem, but only discover that it reappeared in a different
form. Thus, one needs to get to the root cause of an issue, especially at a workplace, and
solve it so as to ensure that it does not repeat itself again. (Senge, 2014)
To conclude, the chapters made it clear to me that I should not take for granted the supply
chain, and should place my orders immediately when the demand seems to rise. Further, the
faster an organisation grows, it is clear the sooner its downfall will come. Enron Corporation
is a classic example of the case (CNN, 2018). Hence, greed is not good, and one should take
their own ace to grow and learn in the process.
Reference –
CNN. (2018). Enron Fast Facts. [online] Available at:
https://edition.cnn.com/2013/07/02/us/enron-fast-facts/index.html [Accessed 27 Mar. 2019].

Senge, P. (2004). THE FIFTH DISCIPLINE: THE ART AND PRACTICE OF THE
LEARNING ORGANIZATION. Sydney: CURRENCY and DOUBLEDAY.