BSOP 434 Logistics Week 1 Homework,Discussions and Labs Devry

QUESTION

BSOP 434 Logistics Week 1Week 1 DQ 1Why do inventories cost so much to maintain? Provide some examples of how cost is associated with carrying an inventory. Is there anything we can do to lower this cost, and if so, what? In addition to the question above, explain how excess inventories can erode profitability.Week 1 DQ 2Discuss why supply chain management (SCM) has become so important. Identify companies that have a well known SCM system. Do these companies have anything in common when it comes to their implementation of SCM? Can you identify and define four (4) attributes of Supply Chain Management?Week 1 Homework Questions2. Distinguish between possession, form, time, and place utility.4. Why do contemporary supply chains need to be fast and agile?8. Discuss some of the ways that inventory can be reduced in the supply chain.5. Distinguish between a fixed order quantity and fixed order interval system. Which one generally requires more safety stock? Why?9. What are implications of the JIT approach for supply chain management?BSOP 434 Week 1 Lab Assignment (Source 1)

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