Inventory Management In The Case Of Cabinet Co.
Nowadays it is essential to achieve corporate excellence. Each business concerns despite its nature, needs and size funds to manage the operations of the business. Each business has to do everyday expenses such as purchasing raw material, wages payment, and others. Business has to have proper inventory level. Inventory management is an essential business part that requires great consideration and attention (Kieso, Warfield & Weygandt, 2007). Inventory management is the business lifeblood as no business can reach the optimum sales without having an effective management. The effectiveness of a firm depends on the inventory management strength. It is because inventory management represents the core of the entire system.
In the case of Cabinet Co., the supervisor had inspected and stocked the materials and components received and stored them. The main issue that led to the registered loss from the stored casters is that the supervisors did not follow up on the storage process and ensured that the inventories were stored safely and that they had no risk …show more content…
It is important for the supervisors to treat their responsibility area as it were their store or business. Thus, they need pride and diligence to do the necessary roles effectively in managing the store. Satisfaction of the customers entirely depends on the success of inventory and its contribution towards the business profitability. It is important for Cabinet Co. 's to ensure that the supervisors get engaged and be accountable for the success of their assigned strategic results along with goals. Additionally, having everyone focus on the organizational goal is another key obligation that Cabinet Co. has in this situation. There should be discipline and focusing ability on a range of diverse stock level details (Lee, 2012). Being out and in stock depends on the effective supervision and level of plan and