12-15 slide powerpoint presentation for management detailing strategies for maintaining supply chain relationships and achieving efficient inventory management throughout the product life cycle for a...

INVENTORY MANAGEMENT & BUSINESS RELATIONSHIP
Table of Contents
Introduction    3
Inventory Management at Every Stage    4
Business relationship strategies with selected Vendor    4
Business relationship strategies with Alternative Vendor    5
Inventory Models    5
Advantages of push inventory model    5
Strategies to implement push inventory model    6
Inventory Management    6
Use of Technology in Inventory Management    7
Benefits of Inventory Management    7
Challenges of Inventory Management    7
Best Practices of Inventory Management    8
Continuous Improvement in Inventory Management    8
Conclusion    8
References    10
Introduction
The JM manufacturing needs to focus on the creation of a plant to implement the business relationship strategies with the selected vendor and the alternative vendor. This focuses on the creation of a plan and the strategies that will effectively ensure the effectiveness of the product life cycle. The selected vendor which is primarily used it is significant to establish a strong and along lasting relationship with them. This can be effectively focused with the perspective that are relevant and ensure that the vendors understand the business requirements and are able to meet them effectively. This first focus on the collaboration and consistency in order to established trust with the vendor by being transparent and honest in all the dealings and the other strategies in order to ensure efficient business relationship strategies with the vendors.
Product Life Cycle
The product life cycle is a concept that describe the various stages of product goes through during its lifetime from the initial development to the eventual decline of the obsolescence. Each stage of the product life cycle presents the unique challenges and the opportunities for the businesses and effective inventory management is critical to success and every stage.
The stages of product life cycle are introduction, growth, maturity, decline and withdrawal. As the initial stage has already been started it is effective to focus on the following four stages. The company must focus on the aspects to increase the sales of the product as the product gains popularity. Subsequently in the maturity phase the sales growth levels of and the competition becomes more intense. During the decline phase the sales begin to decline as the product becomes outdated or faces increased competition. Finally, during the withdrawal phase the product is discontinued.
Inventory Management at Every Stage
Effective inventory management is critical to success at every stage of the product life cycle. In the introduction phase it is important to ensure that enough inventory is on hand to meet the initial demand without over stocking and tying up resources. In the growth phase demand Mein out strip supply so careful inventory management is necessary to ensure that production can keep up with demand. In the maturity phase inventory must be carefully manage to avoid over stocking of excess inventory. In the decline and withdrawal phase inventory must be managed carefully to avoid stock outs and excess inventory which can be costly. Overall effective inventory management is essential to maximizing profits and minimizing cost throughout the product life cycle.
Business relationship strategies with selected Vendor
Business relationship strategies must focus on regular communication that is essential to bring a strong relationship with a vendor. By a maintaining open line of communication, the company can ensure that both the parties are on the same page and can quickly address any issues that arise. Collaboration is another important aspect for building a strong business relationship and by working together with the vendor the company can identify the opportunities for improvement and develop solution to the challenges. This can also include joint planning and problem solving and process...