We will divide our forum this week in two parts:
The review of the key concepts in inventory management, and
Your simulation exercise
Let us start with the next set of questions from your reading for last week. You can add your experience to your answers.
You can bring your own questions as well as sharing any practical experience you may know and consider relevant to the inventory manament topic. References to publications or videos related with inventory management best practices are welcomed.
The next set of questions are based on your readings from Managing Inventory by Janice H. Hammond.
Do you agree that a firm´s inventory strategy can be a key driver of its success or failure? Do you have an example?
What performance metrics are impacted by the firm´s inventory strategy?
Refer to the attached reading