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Explain the concept of inventory management

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Reference no: EM132446698

Deliverable Length: 750-1,000 words

While John Smith considers your recommendations of his company's service-level issues, explain the concept of inventory management as it relates to service operations management. Create an e-mail to him in reference to this topic.

Include the following in your answer:

  • The role of inventory
  • Inventory Strategies (including Vendor Managed, Consignment and Just-in-Time)
  • Lead times and Service levels
  • Economic and cost considerations
  • Specifically address inventory management as it relates to service and Smith's company
  • What are some of the biggest challenges around inventory management, including supplier management (including hardware, software, and other technology solutions).

Reference no: EM132446698

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