Please discuss the following items that you feel are important to understanding and managing your inventory situation.
- What are the types of cost that might be associated with your inventory?
- Carrying Costs
- Procurement Costs
- Out of stock Costs
- Which of the three main Inventory philosophies (Push, Pull, JIT) do you feel would be most beneficial to your situation? (Please explain why)
- What are some of the reasons that you would like to build up, or reduce, the inventories in your store? (Please explain why.)