BUS606: Operations and Supply Chain Management

A textile or FMCG industries proved to be more responsible with larger inventory but it takes the huge cost to store finish goods and disseminate into the marketplace. The manufacturing companies hire professionals to procure required inventory and ensure effective collaboration with suppliers to minimize stock levels that developed in Salimi et al.. For this reason, Vendor Management Inventory (VMI), Just-in-Time, and Lean manufacturing considered to achieve supply chain sustainability goals. Moreover, four approaches for inventory can be purposeful if they applied at right time to the right place. Such approaches include reverse inventory consignment, inventory speculation, inventory consignment, and inventory postponement as well highlighted in Khan & Qianli. The manufacturing organizations can adopt any one of inventory approach to forecasting in customer demand, bargaining power of organizations, and supply line comparative to its supplier that inspect in the research of Abbasi.