This task is a portion of the inventory management plan that you have been developing for your company. Utilize your work from Weeks 1–3, incorporating feedback from your instructor and peers. Your inventory management plan should summarize the various components of the plan.
The plan will include the following components:
Redesign of inventory and supply chain management procedures
Growth plan for operations to address the expanding needs of the company
Standard operating procedures for inventory control to avoid losses
There have been serious overstock and shortage issues in the last 18 months, resulting in lost customers.
You have been asked to put together a plan on the following:
How can the company better understand the customers’ wants and needs?
How can this knowledge work within the constraints of the company’s current systems?
In Part 3 you will put together a plan to do the following:
Reduce lead time
Reduce stock-keeping units (SKUs)
Identify obsolete stock
Overall Your Phase 4 IP paper must be an executive-level assessment, strategy, and implementation plan for improving inventory procedures. You must address how this plan will positively impact the bottom line.
Your Phase 4 IP Key Assignment is a compilation of your work from Weeks 1–4 and you can use week 5 assignment.
Your plan should be 10-15 pages in length, not including title or reference pages.
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