Explain the different types of inventory

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1. Explain the different types of inventory, the challenges of inventory management and the reasons for the existence of inventory. Then explain how firms such as Amazon, Walmart or Apple control their inventory.

2. Discuss the different types of demand forecasts and the different forecasting methods. Why do forecasts fail - think of political elections that predict a winner who doesnt win?

3. From your experience and by conducting research online explain how you can negotiate within your supply chain order to reduce your costs. Explain how you will work within your supply chain to lower your costs and how you will properly calculate your pricing strategies in order to maximize profitability.

Reference no: EM132174195

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