Explain why Inventories are an important component in organizations and one of the most expensive assets in an organization. Therefore, organizations should have a system whereby inventories are accounted for from the time they are acquired, until the time they are used or distributed. Managing inventory levels is a critical activity in organizations.
Your essay assignment is to use the Internet to research-proven strategies that organizations can use to manage inventory. In your 2-3 page paper, compare and contrast at least four strategies. In addition, choose an organization and 1 of the 4 strategies and describe how the organization could benefit by using the strategy chosen. Also, provide explanations regarding why the other three strategies were not chosen. Be sure to include a title page and a reference page to submit your work.
