Instruction: The essay should define procurement and detail the elements of inventory holding cost, as well as dealing with the role of inventory. The ways in which effective procurement can help to reduce inventory and inventory holding cost should be outlined and discussed. The five ‘rights’ of purchasing should be mentioned in this regard. The essay should draw on on established and recent literature on these matters. Wikipedia and other such websites should not be used as references. In other words, reference material should be academically sound, and not merely convenient. Essay should referenced in the harvard style. A reference list should be provided and a statement of originality should be included with the essay. What to include: Define procurement Detail the elements of inventory holding cost, dealing with the role of inventory. Ways in which effective procurement can help reduce inventory and holding cost should be outlined and discussed. 5 rights should be mentioned in this regard. Please mention JIT Sources: Please try use some of the following books: ‘Just-In-Time Purchasing’ by and ‘Just-In-Time Manufacturing An aggressive maufacturing strategy’ by Richard T. Lubben ‘Manufacturing Planning and control systems for supply chain management’ by Thomas E. Vollmann, William L. Berry, F. Robert Jacobs ‘Purchasing and supply Management’ by Dobler Burt ‘Lean supply chain management and logistics management’ by Paul Myerson ‘World class production and inventory management’ by Darryl V. Landvater ‘Purchasing and materials management’ by Donal W. Dobler ‘Japanese manufacturing techniques’ by Richard J. Schonberger Please leave sources of websites used – must be academically sound Sources can range from a quote to a refetencing an idea from a book or website Please make sure to properly her card reference
Hide
