you are required to critique the strategic importance of procurement and inventory based on its purpose in the supply chain (safety/buffer stock and seasonal stock) in relation to Nestle.
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good day please help me with this question
you are required to critique the strategic importance of procurement and inventory based on its purpose in the supply chain (safety/buffer stock and seasonal stock) in relation to Nestle.
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.Procurement and Inventory management at Nestle The procurement life cycle followed by Nestle is broken up into several integrated components inthe business and involves large number of intermediary processes like purchase requisition,purchase order, vendor involvement, goods receipt and inventory management and accountspayable. All these processes make together the life cycle of procurement process.Each time an inventory item is received or issued from the inventory at one of the Nestle locations,the system automatically updates stock quantities and values, and reduces inventory. Timeconsuming tasks are simplified through determining optimum source of supply, analyzing andcomparing vendor pricing, issuing purchase orders, managing the authorization for purchaserequisitions, processing invoices for payment and recording the same. The efficient supply chain atNestle requires all stock planning and operational activities to be integrated into a uniformbusiness-process flow.At the…Procurement and Inventory management at Nestle The procurement life cycle followed by Nestle is broken up into several integrated components inthe business and involves large number of intermediary processes like purchase requisition,purchase order, vendor involvement, goods receipt and inventory management and accountspayable. All these processes make together the life cycle of procurement process.Each time an inventory item is received or issued from the inventory at one of the Nestle locations,the system automatically updates stock quantities and values, and reduces inventory. Timeconsuming tasks are simplified through determining optimum source of supply, analyzing andcomparing vendor pricing, issuing purchase orders, managing the authorization for purchaserequisitions, processing invoices for payment and recording the same. The efficient supply chain atNestle requires all stock planning and operational activities to be integrated into a uniformbusiness-process flow.At the…
- Briefly and exactly explain how does the inventory management impacts the performance of the supply chain .Describe vendor-managed inventory (VMI). How is it related to outsourcing?several activities can occur in both materials management and physical distribution management. which one of the following activities occur in only one of these management areas? a. warehousing b. reverse logistics c. order processing or d. material handling
- Prior to accepting a customer’s order, a company should verify the amount of inventory on hand. Which of the following is not a reason to do this? Determine whether inventory records are accurate. Ensure accuracy of inventory records by reducing the amount by items order. Identify which products should be ordered from suppliers. Communicate to the customer when shipment will be sent.What are 3 potential risks associated with replacing the inventory management system, and how can they be mitigated?Recognise the fundamental components of buying databases and ERP system