Select one of the key concepts from the module noted below and use it as the focal point of the essay. Be sure to identify the name of your selected firm.
- Discuss how to conduct an ABC analysis for your selected firm.
- Describe the use of cycle counting at your selected firm.
- Defend the use of the EOQ model for independent inventory demand. Explain the differences that exist between using the EOQ model at a product-based business (i.e., sells a physical, tangible product) and a service-based business (i.e., sells a service, which has no physical or tangible product).
- Explain how to compute a reorder point and describe safety stock. If the material for the product is shipped across oceans, how would that influence the safety stock?
- Assess how to apply the production order quantity model as it applies to your selected firm.
- Justify the use of the quantity discount model. When would this approach not be justified? Why?
- Contrast the differences between service levels and probabilistic inventory models.
Base your research on a current scholarly, peer-reviewed source that addresses the same topic as the outcome you have selected.
Minimum of 300 Words
Minimum of one source in APA format.