Select an inventory management problem that applies to your work or personal life.
Prepare a project proposal in which you:
- Describe the organization, the inventory problem it faces, and the expected benefits that are motivating the organization to implement a solution.
- Convert time series data collected in Week Two to seasonal indices. You may choose to use the University of Phoenix Material: Summer Historical Inventory Data or University of Phoenix Material: Winter Historical Inventory Data if the data you collected is insufficient.
- Use seasonal indices to analyze the inventory data.
- Use the slope-intercept formula to determine the annual increase in inventory.
- Provide monthly seasonal indices for the given data.
- Identify the busy months of year.
- Identify the slow months of year.
- Construct a histogram of the inventory data using Microsoft® Excel®.
- Forecast the future inventory costs using time value of money concepts.
Organizations that have inventories fluctuating during the year create problems that make businesses implement a solution. According to Kokemuller (2011), high or low volume of inventories, many markdowns, very slow inventory turnover or slow cash flow are the main problems for retailers with seasonal demands. The subject of this paper is to d