HAdams_InventoryDescription_022711 - Inventory Description...

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Inventory Description 1 RUNNING HEAD: INVENTORY DESCRIPTION Inventory Description Helen Adams Rasmussen College
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Inventory Description 2 Operations Management Project - Inventory Description Introduction The costs associated with inventory maintenance, such as transportation and storage fees; do not add value to the company. The inventory management system eliminates many of these costs by reducing the amount of inventory maintained at any one time and in any one location. The just-in-time system also eliminates wasted inventory through tight control of what is needed at which location and the delivery of only those supplies or parts needed at the right moment. The just-in-time system results in smaller production lots and batch sizes, improved efficiency, better quality control, and better customer response times. Beginning with the development of the Universal Product Code in the 1970s, distribution centers and grocery stores began using food scanning technology to better forecast sales and control inventory. Scanning also allows the
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This note was uploaded on 04/30/2011 for the course ECON 101 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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HAdams_InventoryDescription_022711 - Inventory Description...

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