Concept of inventory management

Deliverable Length: 750-1,000 words

While John Smith considers your recommendations of his company’s service-level issues, explain the concept of inventory management as it relates to service operations management. Create an e-mail to him in reference to this topic.

Include the following in your answer:

The role of inventory
Inventory Strategies (including Vendor Managed, Consignment and Just-in-Time)
Lead times and Service levels
Economic and cost considerations
Specifically address inventory management as it relates to service and Smith’s company
What are some of the biggest challenges around inventory management, including supplier management (including hardware, software, and other technology solutions).

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