Inventory Management

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Inventory Management Name Instructor Date Inventory Management In business, all functions are both interrelated and interconnected to one another. There are essential aspects of logistics, inventory, and supply chain that form the ultimate backbone of a business to function. Inventory management functions are extremely significant in marketing managers and finance controllers. Inventory management is relevant for business irrespective of the type of service or product being sold. Inventory management is defined as a designed process that is a task with the obligation of ensuring a firm is well equipped with products it requires in keeping costs as low as possible (Muller, 2011). Defining a good and bad inventory lies within the context of a firm’s supply chain, internal controls, and cost of goods. In this paper, an in-depth analysis of two companies namely Dell and Apple will be done on the inventory management system they use. The two firms manage inventory as an aspect of their daily operation. Apple Apple is a firm that leads in innovation and design. A handful of people knows that the way Apple handles its day-to-day activities is the reason behind its success. Research firm Gartner ranks Apple as the firm with the best supply chain in 2010 to 2013. Apple was founded by Steve Jobs, Ronald Wayne, and Steve Wozniak in 1976. The Apple Company whose main offices are in Cupertino, California specializes in creating and selling mobile or personal computers, consumer electronics, and software. Apple’s chief commodities form an essential percentage of stock made up of iPod media player, iPhone Smartphone, Mac line computers, and associated computer programs

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