“Inventory control is one of the central activities of procurement and supply management. It is extremely important for the success of an organisation due to the large capital investment required.” (Makaleng:291, 2021). The aforementioned philosophy around inventory is the key driver to why organisations like Masodi Organics, which are upcoming and growing rapidly, should place an emphasis on inventory control throughout their operations. Embedding inventory control processes and systems into their daily operations, especially while the organisation is still smaller, will benefit them in the long run. Write an essay of 1 200 to 1 500 words, in which you evaluate the ways in which Masodi Organics can implement inventory control and grow the business effectively and efficiently. Your discussion should use practical examples relevant to the business of Masodi Organics, and should address the following: 1. Analyse the relevance of the three (3) inventory costs to the operation of Masodi Organics. 2. Evaluate the three (3) inventory measures that Masodi Organics can implement and defend the application of such measures.
“Inventory control is one of the central activities of procurement and supply management. It is extremely important for the success of an organisation due to the large capital investment required.” (Makaleng:291, 2021).
The aforementioned philosophy around inventory is the key driver to why organisations like Masodi Organics, which are upcoming and growing rapidly, should place an emphasis on inventory control throughout their operations. Embedding inventory control processes and systems into their daily operations, especially while the organisation is still smaller, will benefit them in the long run.
Write an essay of 1 200 to 1 500 words, in which you evaluate the ways in which Masodi
Organics can implement inventory control and grow the business effectively and efficiently.
Your discussion should use practical examples relevant to the business of Masodi Organics, and should address the following:
1. Analyse the relevance of the three (3) inventory costs to the operation of Masodi Organics.
2. Evaluate the three (3) inventory measures that Masodi Organics can implement and defend the application of such measures.
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