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Is there any inventory control system you would like to recommend? Discuss in detail the pros...

Is there any inventory control system you would like to recommend? Discuss in detail the pros and cons of the recommended system.

FYI: The inventory control system that I would recommend is the push system. The push system of inventory control involves forecasting inventory needs to meet customer demand

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Answer #1

Is there any inventory control system you would like to recommend? Discuss in detail the pros and cons of the recommended system.

Materials Requirements Planning

PROS

  • This system involves forecasting inventory needs to meet customer demand
  • It Collects the business data for analysis and better planning.
  • It ensures timely delivery of manufactured goods to your customers
  • It ensures on time availability of the right materials required for production

CONS

  • lack of data accuracy can cause problems with the planning
  • MRP is only valuable if product is quite complex
  • MRP is mostly suitable for make-to-stock manufacturers.
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