Industrial Engineering: Inventory Management

Industrial Engineering: Inventory Management. Industrial Engineering: Inventory Management. Industrial Engineering: Inventory Management

 

Even though it is one of the oldest interest areas of industrial engineering, Inventory management still continues to be a problem for many companies especially for Small and Medium Enterprises (SMEs). Generally, frequent stock-outs of main goods, increasing demand for additional storage areas, huge inventory investments and low inventory turnover rates are some of the indicators of poor inventory management practices. Sometimes poor supplier practices, demand uncertainties, poor quality may lead to these poor performances. On the other side, many SMEs have no idea about the proper inventory management practices and impact of environmental factors on inventory decisions at all. Impact of order sizes and replenishment decisions are very hard for them to realize in the beginning. As a candidate industrial engineer, you are appointed with a mission that you should increase the awareness of proper inventory management practices among the suppliers of your organization. You have decided that the best way to promote an idea is to explain it under a game setting. Think about a game to increase the awareness of inventory management and its impact on an SME.

Report Requirements:

The initial report should explain the objective of the game and the draft ideas for game setup. Discuss in detail how your game sketch will help to realize your game objective.

 

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Industrial Engineering: Inventory Management

 

Industrial Engineering: Inventory Management

Industrial Engineering: Inventory Management

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