ISCOM 305 Week 3

Individual Taylor Incorporated Inventory Management Challenge

Resource: Taylor Incorporated Inventory Management Challenge located on the student website under Week Three

Create an 8- to 10-slide Microsoft PowerPoint presentation with speaker notes about inventory to present to the president of Taylor Inc.

Complete the elements of inventory management and the EOQ components of the presentation.

Address the following requirements:

Describe elements of inventory management.

Describe the meaning of the category of inventory and explain why it is critical to manage each element.

Explain why accurate forecasting is so important to sales enhancement, customer satisfaction, and cost control.

Identify the number of units to purchase for the new distance measurement device based on the economic order quantity.

Identify the number of orders per year that must be made to take advantage of the economic order quantity.

Learning Team Parker Earth Moving Company Consulting: Session 2

Your team has been asked to evaluate the existing inventory management strategy at Parker Earth Moving Company to find how the company may optimize its operational performance. The company has also asked for a recommendation of which subcontractor to employ.

Resource: Parker Earth Moving Company Consulting: Operational Performance located on the student website under Week Three

Read the scenario for more information regarding the situation.

Write a 350- to 500-word executive summary of your evaluation in which you address the following points:

What are the inventory reorder points and the quantities per order?

What problems exist in the current operational strategy?

Explain your rationale for selecting subcontractor A or subcontractor B. How does the selected subcontractor optimize operational performance?

How would you plan around an emergency, such as a natural disaster? If a hurricane disrupted the supply of raw materials and the work-in-process inventory needed to produce finished goods, how would you modify the reorder points and quantities per order and why?

Format your paper consistent with APA guidelines.

Discussion Questions

Hello Everyone, a number of quality-management philosophies hold that prevention costs are the most critical quality-related costs. What is the logic behind this premise? Would you apply this logic as an operations manager? Explain why or why not.

What is quality management? Why is it important for every manager to understand? How might a quality-management program affect productivity?

What are the major elements of project management? Describe the role of the project manager in conjunction with project control. What are the requisite skills that the project manager must possess?