After reading this chapter, you will be able to answer the following questions:
- Why do firms carry inventory? What are the various types of inventory carried by an organization?
- What are the components of cost that are affected by inventory decisions?
- How can a firm reduce inventory in the organization?
- How do firms determine the optimum level of cycle stock in chain?
- How do firms decide on the required level of safety stock in chain?
It is not easy to deal with customer dissatisfaction, especially if the customer in question is a 4-year-old boy. Picture this: A petulant toddler demanding the Spider-Man costume for an upcoming party. If he cannot be transformed into Spider-Man, he cannot attend ...