The company has been in operation for a long time hence has enough data to create accurate forecasts of the demand. Especially for the large projects as for hotels, a large order will mean a large price difference for the customer if they have a better operational strategy Finished goods inventory is held by the organization in anticipation of demand.
Due to their wide business they tend to neglect the importance of product inventory.
The objective is to apply the concepts learned during the course on real-life situations. The analysis identifies items, which are: i Seasonal items are available only for a limited period.
Firms in a supply chain relate, transact, and partner on different levels; from product design and development to product delivery.
It is a major portion of current assets and thus there is need to do careful investment in the same. Supply chain management joins clients, acquiring of supplies, generation, fabricating, stock, incorporation and dispersion of supply and management of supplies with countless individuals inside an association The item can be produced in quantities desired there being no restriction of any kind.
Inventory system is a guideline to monitor and control the inventory level, and determine the optimal amount of stock that the company needs to hold in order to satisfy customer demand.