What steps do you think companies can take to improve the accuracy of their inventory management program?

Research the term “inventory turnover” and write a report discussing the normal inventory turnover for the following industries: 1) automobile manufacturers, 2) restaurants/hotels, and 3) retailers.

In your report, discuss the following:

  • What is the purpose of holding inventory?
  • What steps do you think companies can take to improve the accuracy of their inventory management program?

Your paper should be 2-3 pages long, citing at least three sources, and should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course, as well as providing new thoughts and insights relating directly to this topic.  Your response should reflect scholarly writing and the current SPA Requirements .

 

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