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Suppose your business model is to buy products wholesale and sell directly to customers through an online selling platform. You are trying to decide what product to sell (Example: office supplies, cleaning supplies, home improvement supplies, groceries, school supplies, etc.).
What type of product would you sell and what type of inventory strategy would you use? Justify your chosen strategy and explain how you would manage your inventory. (Consider "Pressures for Small Inventories" and "Pressures for Large Inventories" in your textbook to help craft your answer). Address the the following questions in your response:
- How will you keep up with demand?
- What are three things you considered when choosing your chosen strategy?
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