Learning Activity 4.6: Inventory Management
Introduction and Purpose of Assignment
Inventory management includes numerous variables that the company needs to prioritize. What inventory levels are appropriate? Will the company use JIT? What are the potential costs the company is willing to accept during the purchasing and production phase? This discussion evaluates the various ways that inventory could be managed, using Levi Strauss’ operations as a basis for application.
Objectives
· Critique the effectiveness of various inventory management concepts. (4.3)
Theory and Context
Inventory management refers to the procedures that define the efficient flow of material. In managing inventory three variables need to be prioritized. The first is time. How critical is the delivery/availability of the item? The second has to do with managing inventory as it flows through production. How is work-in-process managed and valued? The third relates to finished goods inventory. How is an accurate count of available inventory for sale maintained?
Resources
Levi Strauss & Co XXXXXXXXXXGrowing with purpose. 2016 annual report. Retrieved from http:
levistrauss.com/wp-content/uploads/2014/01/Levi-Strauss-Annual-Report XXXXXXXXXXpdf
Scott, S XXXXXXXXXXTop ten ways to manage inventory. Chron. Retrieved from http:
smallbusiness.chron.com/top-ten-ways-manage-inventory-11099.html
Instructions
1. Discuss some of the different inventory management approaches and the recommended application for controlling Levi’s inventory.
DISCUSSION
F level
D level
C level
B level
A level
Content
40%
Postings do not address the topic.
Postings do not clearly address the topic or else they repeat what has already been said.
Postings are lacking in substance and only add minimal information to the discussion.
Postings are somewhat researched and offer some analysis of the assignment.
Postings (min. 200 words) are well researched and involve thoughtful, detailed analysis and critical thinking.
Interactive Responses
30%
There is no interaction with other individuals.
There is little substance in the interaction with other individuals.
There is at least one substantive interaction or there are multiple interactions that are not substantive with other individuals.
Student shows little initiative in conversing.
There are at least two somewhat substantive interactions or one very substantive interaction with other individuals.
Student is responding as required but is not adding any new ideas.
There are at least two very substantive interactions with other individuals (min. 50 words each).
Student is actively engaged in discussing the topic and giving valuable insights.
Timeliness
20%
Initial responses are posted on the seventh day of the week.
Interactive posts are not done in time to provide other students sufficient time to respond.
Initial responses are posted on the sixth day of the week.
Interactive posts are done in time to provide other students sufficient time to respond.
Initial responses are posted on the fifth day of the week.
Interactive posts are done in time to provide other students sufficient time to respond.
Initial responses are posted on the fourth day of the week.
Interactive posts are not done on two different days.
Initial responses are posted on the fourth day of the week.
Interactive posts are done on two different days.
Mechanics
10%
Standard grammar mechanics are unacceptable.
Standard grammar mechanics are inadequate for this level of student work.
Proper grammar, spelling, punctuation, and standard English are not completely used. Citations are missing.
Proper grammar, spelling, punctuation, and standard English are used. Citations are missing when called for.
Proper grammar, spelling, punctuation, and standard English are used. Citations are included as needed.