Please view the following video and comment on the costs and benefits of inventory management (please forgive the music in the background, but it
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<br/> -Please view the following video and comment on the costs and

benefits of inventory management (please forgive the music in the background, but it offers a good overview of this topic). How does inventory management affect capacity planning, ERP, and how can forecasting help in inventory management? http://www.youtube.com/watch?v=PrjRNMJ_dcA



-Each student is to research a current event that is related to one or more of the Course Learning Outcomes (CLO) listed in your syllabus. You should use the Internet; electronic news agencies or journals to research a current event should be 1 to 3 years old. An analysis should be conducted on your researched current event (related to one or more CLO's). Each student must create a discussion response that includes: A summary of the event A brief statement about the relationship of the current event to the CLO (s) As a manager, how would apply what you have learned to an organization.COURSE LEARNING OUTCOMES (CLOS)
A. Identify the three major functional areas of organizations and describe how they interrelate. Explain the key aspects of operations management decision making.
B. Identify similarities and differences between production and service operations. Discuss the importance of legal, ethical, and sustainability considerations in product and service design.
C. Explain the purpose and goal of life cycle assessment. Explain the purpose of methods analysis and describe how methods studies are performed.
D. Summarize the importance of capacity planning. Discuss ways of defining and measuring capacity.
E. Describes the inputs, outputs, and nature of material requirements planning (MRP), manufacturing resource planning (MRP II), and enterprise resource planning (ERP).
F. Identify the elements of a good forecast and outline the steps in the forecasting process. Compare and contrast qualitative and quantitative approaches to forecasting. G. Discuss the key issues of supply chain management. Identify recent trends in supply chain management.

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