Sangeeta answered on
May 22 2020
To start with, the two service corporations, which manage inventory that would be considered for this paper, are Wal-Mart and Dollar General. Inventory basically refers to an asset held for future sale or usage. Inventory is regarded as a resource, which is managed through business institutions. The foremost inventory was recorded during the year 1601 (Cannella and Ciancimino, 2010). Inventory management takes in planning, controlling the acquisition, coordinating, storage, movement, handling, distribution and lastly, likely sale of raw materials, components, sub-assemblies, tools and supplies, replacement parts and lastly, other assets needed for meeting client needs and wants (Jacobs and Chase, 2007).. The chief purpose of the inventory is basically improving the outcome of manufacturing sector. Inventory could become liquid cash also and has significantly assisted corporations towards saving money (Jacobs and Chase, 2007)..
1. Determine the types of inventories these companies cu
ently manage and describe their essential inventory characteristics.
Dollar General makes use of four distinct kinds of inventories. They employ raw materials; work-in-process; repair, maintenance, finished goods and lastly, operating supply. Raw material refers to items, which suppliers provide to the outlet. Such items involve no labour added through the company obtaining such items. Work-in-process implies that the items are at diverse phases of being finished within the manufacturing procedure. Maintenance, operating supply and repair are required for accomplishing operation tasks (Cannella and Ciancimino, 2010). Moreover, the finished products involve items, which have been completed and are all set for entering the distribution network (Saxena, 2009).
Additionally, Wal-Mart is quite alike Dollar General with respect to the diverse kinds of inventories. They make use of finished products, work-in-process, raw materials and finally, supplies. Moving ahead, Wal-Mart and Dollar General both are similar with respect to the inventory traits. Both corporations hold the features of a SKU (stock-keeping unit), A SKU means that diverse items are stored at particular locations. For example, each item holds a different SKU. They also hold a trait of autonomous demand along with dependent demand. Independent demand implies towards the fact that the items don’t actually depend upon any other item for being forecasted. For instance, a computer is seen as being an autonomous product for the reason that there is nothing that corporations could depend upon, it’s a finished item (Cannella and Ciancimino, 2010). While Microchips involve dependent demand since they depend upon the computers for being used. In the absence of computers, the microchip would involve no use.
2. Analyze how each of their goods and service design concepts are integrated.
The framework for products and service design at both Wal-Mart and Dollar General involves six steps.
Steps 1 and 2 – Strategic Mission, Competitive Preferences and Analysis
Wal-Mart follows a slogan, which says people, saving, a better life and money. While, Dollar General, the cheap-chic corporation, asserts that its chief mission is making the company the prefe
ed shopping place for the buyers through providing exceptional value, incessant innovation as well as an outstanding customer experience through constantly satisfying its “Expect More and Pay Less
Step 3 – Consumer Benefit Package
Both Wal-Mart and Dollar General offer a wide a
ay of products and services to the buyers. Wal-Mart lays emphasis upon price while Dollar General focuses upon both price as well as quality.
Step 4 – Produced Products Design and Process Selection and Service Delivery System Design
Both the companies aim at offering affordable products along with speedy and effective services. I hold good experience with both Wal-Mart as well as Dollar General and I believe that services at Dollar General are...