Describe an area of improvement for your company or industry of choice. Find two benchmarks for your improvement area:
-in a like company or industry
-in a company or industry that does not participate in the same type of business
I have taken the area of inventory management and the organization is HP. Inventory is an item which is either used for production or can be sold readily. It includes raw material, work in process and finished goods. This Inventory is maintained to take care of fluctuations in demand and lead time. In some cases it is maintained to take care of increasing price tendency of commodities or rebate in bulk buying. 2
HP's inventory turnover is around 13 times which is less than the Industry's inventory turnover of 19 times.
I have taken the company Dell for comparison. Dell's inventory turnover is 35 times which is much higher than HP. Dell's business model is Direct model where it takes customized orders for hardware and software over the phone or via the internet and departing from the route followed ...