The Value Of Inventory Management Essay
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 of getting spoiled and become unusable. Therefore, this essay will point out some of the some of the Cabinet Co. ' remedies, duties, and obligations on the casters.
The duties are not simply to hire analytical personalities and expect them to plan successfully on the inventories and keep them safe for some time, but they also require to develop a wide variety of backgrounds and disciplines. The major thing is…