explain the process reducing in different type of inventory an organization
Answers
it is inadequacies in cross-functional business processes that cause ... By streamlining the entire supply chain, a company can reduce inventory.
Basic types of inventory
Raw materials.
Work-in-progress (WIP) inventory.
Finished goods.
Maintenance, repair & operations (MRO) goods.
Packing materials.
Answer:
The following are a dozen ways to reduce inventory, suggested by supply chain consulting firm Cornerstone Solutions:
Reduce demand variability
Improve forecast accuracy
Re-examine service levels
Address capacity issues
Reduce order sizes
Reduce manufacturing lot sizes
Reduce supplier lead times
Reduce manufacturing lead times
Improve supply reliability
Reconfigure the supply chain
Reduce the number of items
Eliminate questionable practices
Explanation:
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