Question

Please identify 3 strategies to solve the INVENTORY problem from
your Capsim experiences

Answer 1

Three strategies to solve the inventory problem in a Capsim experience are to identify the physical principles involved, use strategies outlined in the text, and consider other relevant strategies.

Step-by-step explanation:

Problem-Solving Strategies for the INVENTORY Problem

1. Identify which physical principles are involved: For inventory management, key principles involve forecasting demand, setting safety stock levels, and using efficient ordering systems.
2. Solve the problem using strategies outlined in the text: The text could provide strategies such as using Just-in-Time (JIT) systems, implementing inventory control models like Economic Order Quantity (EOQ), and analyzing data to identify trends and make accurate forecasts.
3. Consider other relevant strategies: In addition to the text, you can explore other inventory management strategies such as ABC analysis, vendor-managed inventory (VMI), or implementing an inventory management software.