Business management Management Essay Research Paper (Essay Sample)

Inventory management and Operations Management
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For this assignment, you need to identify how the company of your choice manages inventory, what risks are most prevalent in their industry that they must manage, and how the technology has worked into their operations management. Be sure to provide outside references to help explain these topics.
How Coca-Cola Company manages inventory.
Inventory management is an important decision for any firm/company aspiring to grow. Inventory refers to an “itemized” list of a company’s valuables accompanied by their estimated worth. Inventory management is the process of directing, planning, and regulating inventory with an aim of profiting the firm/business. In simpler terms, inventory management is ensuring availability of items when needed by customers but still not in plenty in order to meet inventory turnover objectives. According to Vohra,2008, firms face a challenge where customers instantly demand customized products and require that their orders are quickly filled but do not want to pay a premium to cater for the availability. Therefore in this competitive world, organizations have had to explore ways to resolve the ever changing consumer demands. Inventory decisions greatly contribute to this.