Final answer:
The responsibility for total item management, including requirements computation and base stock level adjustments, generally falls to inventory managers or supply chain managers in a business setting, usually at the college level.
Step-by-step explanation:
The individual responsible for total item management, including the computation of requirements and setting and updating of base stock levels, is often referred to as an inventory manager or supply chain manager. These professionals apply their knowledge of supply chain management to ensure that inventory levels are optimized to meet demand while minimizing costs.
Their tasks consist of forecasting future needs, managing procurement activities, and ensuring that inventory turnover rates are balanced.
By using various inventory management systems and methodologies, such as Just-in-Time (JIT) or Economic Order Quantity (EOQ), they are able to maintain efficient inventory levels that meet the needs of the business without incurring unnecessary overhead.
Inventory managers are typically responsible for overseeing the entire inventory management process within an organization. They use various techniques and strategies to ensure efficient and effective inventory management, such as demand forecasting, reorder point calculation, and inventory control.
By continuously monitoring stock levels, analyzing demand patterns, and working closely with other departments, inventory managers aim to strike a balance between having enough stock to meet customer demand and minimizing excess inventory costs.