Operations Management – Inventory Management

Operations Management – Inventory Management

Research the following topics related to Inventory Management:

1. Demand
2. Inventory Control Systems
3. EOQ
4. Role of Inventory Management
5. Reorder Point

In a Word document, compose paragraphs describing the topics: one paragraph per selected topic, based on your simulation activities, course material, and additional research you conduct online.

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Operations Management – Inventory Management

Demand

In inventory management, demand refers to the quantity of products or goods that are being requested from the inventory department at any given moment. Unlike demand that is used for economic reasons, demand in inventory management determines the stock levels that are supposed to be maintained by the company at any given moment. As a result, demand in inventory management may refer to different things. First, it may refer to quantity of raw materials that are being demanded for the production process.

(596 words)