Inventory management Literature & Language Research Paper (Research Paper Sample)

Inventory management
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INVENTORY MANAGEMENT ANALYSIS IN VARIOUS COMPANIES
For every company's operations, particular concerns need to be taken care of for production to be efficient. Such matters include how the organization obtains the raw materials used in manufacturing, transportation of the documents to the company premises, storage of the raw materials and other inventory, and how the raw materials are to be utilized during production. Customer satisfaction is the main motive for any organizational operations, and therefore ensuring that the customers' demands and standards are met is a key consideration when looking at the final product. Poor inventory management systems have cost various companies a lot, including operational failures, management thus needs to keep an eye on the inventory management processes in order to ensure that they are effective and yield the desired outcome.
Various companies adopt various inventory management processes that are in line with their production activities. For instance, some firms need to have their raw materials within the premises before they can commence on production, raising a need for them to make orders before the need arises. These firms are associated with bulky raw materials and need very large storage rooms for them. There are also firms that order their raw materials only once a need has been spotted CITATION Fen14 \l 1033 (Feng, 2014). The difference in such needs within the industry allows for analysis to be made and to identify what best suits a given company.