research paper 1591

Complete the following questions using research and details from the text:

This week examines inventory issues in-depth. Topics include an overview of the inventory function, determining inventory carrying costs, inventory planning, how to manage uncertainty in inventory demand, and inventory management policies and practices.

1.The chapter describes a situation where Whirlpool and Lowe’s are collaborating to jointly developing a merchandizing and operations plan. What are the benefits and risks to each organization? What are the challenges to Whirlpool, as it has other major customers to consider?

2.Assume that effective forecasting requires a combination of technique, system support, and administration. Your supervisor in your consumer products firm has requested that you identify some initiatives to enhance forecast accuracy. What specific initiatives would you recommend for consideration regarding the technique, system support, and administration components?

As an example, Whirlpool and Lowe’s have taken collaboration to a new level with their initiative to complete an S&OP process jointly. The initiative, which they call “Merchandising and Operations Planning,” begins with a robust CPFR process to create a baseline and then evolves into one plan for both firms.

Finish this paper with an APA format.

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