1) What inventory controls does you company use? Compare them to those of a competitor, or that a company in a similar industry uses
2) Which costs of inventory does your company incur? With an example, please quantify them.
3) What project management tools does your company use? With an example, describe how you, or someone in your company has used these tools.© BrainMass Inc. brainmass.com October 9, 2019, 6:20 pm ad1c9bdddf
1) What inventory controls does you company use? Compare them to those of a competitor, or that a company in a similar industry uses.
Inventory control is also concerned with minimizing the total cost of inventory.
It is about how to maintain a suitable level of inventory, to meet the customer demand but at the same time, won't have too many inventories in hand that will led to higher cost!
My company I worked for before basically adopted the following approaches:
Don't stock anything you can get in an hour or less.
Never promise a job in less than an hour.
Never buy anything that can't be returned (unless the customer pays up front).
Do a physical inventory at least once a year. Return anything that's still here.
Compute margins ...
Simple, direct responses (about a paragraph) and an article for further reading.