Assignment: Inventory Management, research two (2) manufacturing or two (2) service companies that manage inventory and complete this assignment.
Write a six to eight (6-8) page paper in which you:
- Determine the types of inventories these companies currently manage and describe their essential inventory characteristics.
- Analyze how each of their goods and service design concepts are integrated.
- Evaluate the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.
- Compare and contrast the four (4) different types of layouts found with each company; explain the importance of the layouts to the company’s manufacturing or service operations.
- Determine at least two (2) metrics to evaluate supply chain performance of the companies; suggest improvements to the design and operations of their supply chains based on those metrics.
- Suggest ways to improve the inventory management for each of the companies without affecting operations and the customer benefit package. Provide a rationale to support the suggestion.
- Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Evaluate the processes used in designing and producing goods and services.
• Determine four layout patterns and when they should be used.
• Utilize the concept of supply chain management.
• Employ the concept of capacity management.
• Evaluate the management of inventories and resources.
• Use technology and information resources to research issues in operations management.
• Write clearly and concisely about operations management using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.
Points: 300Assignment 2: Inventory ManagementCriteria
Unacceptable
Below 60% FMeets Minimum Expectations
60-69% D
Fair
70-79% C
Proficient
80-89% B
Exemplary
90-100% A1. Determine the types of inventories these companies currently manage and describe their essential inventory characteristics.
Weight: 10%Did not submit or incompletely determined the types of inventories these companies currently manage; Did not submit or incompletely described their essential inventory characteristics. Insufficiently determined the types of inventories these companies currently manage; Insufficiently described their essential inventory characteristics.Partially determined the types of inventories these companies currently manage; Partially described their essential inventory characteristics.Satisfactorily determined the types of inventories these companies currently manage; Satisfactorily described their essential inventory characteristics.Thoroughly determined the types of inventories these companies currently manage; Thoroughly described their essential inventory characteristics.2. Analyze how each of their goods and service design concepts are integrated.
Weight: 15%Did not submit or incompletely analyzed how each of their goods and service design concepts are integrated.Insufficiently analyzed how each of their goods and service design concepts are integrated.Partially analyzed how each of their goods and service design concepts are integrated.Satisfactorily analyzed how each of their goods and service design concepts are integrated.Thoroughly analyzed how each of their goods and service design concepts are integrated.3. Evaluate the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction Service companies that manage inventory.
Weight: 15%Did not submit or incompletely evaluated the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.Insufficiently evaluated the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.Partially evaluated the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.Satisfactorily evaluated the role their inventory plays in the company’s performance, operational efficiency, and customer satisfaction.Thoroughly evaluated the role their inventory plays in the company’s performance, operational efficiency, and cu
TO BE RE-WRITTEN FROM THE SCRATCH
Samsung and Apple companies are leading companies in the global electronics industry. The two companies have largely invested in research in the development of new products in order to cope up with high competition in this industry as well as the evolving nature of customer needs and technological advancement. The two companies manufacture mobile phones and computers as their main products. However, Samsung has diversified its product base to include other electronic products such as television sets and refrigerators among other products. The two companies have put in place elaborate inventory management systems that that are unique and relevant to their individual operations.
Types of inventories and essential characteristics
The Apple Company maintains two major types of inventory. These include the parts inventory and the products inventory. The part inventory includes all the parts that the company sources from suppliers and uses them in the manufacture of its products. The unique way in which Apple has been able to manage this type of inventory is through shipping parts directly to the manufacturing plant. This way, the company has been able to cut down on storage costs and maintained low inventory.
The second inventory that the Apple Company maintains is the finished product inventory. The company has a wide product base. The major inventories for apple under this category include IPhone, IPad, MacBook, Mac…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….. Service companies that manage inventory
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