Inventory Management

Inventories are an important component in organizations and one of the most expensive assets in an organization. Therefore, organizations should have a system whereby inventories are accounted for from the time they are acquired until the time they are used or distributed. Managing inventory levels is a critical activity in organizations.

Your essay assignment is to use the Internet to research proven strategies that organizations can use to manage inventory. In your paper, compare and contrast at least four strategies. In addition, choose an organization and 1 of the 4 strategies and describe how the organization could benefit by using the strategy chosen. Also provide explanations regarding why the other three strategies were not chosen.