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Global Issue Supply Chain Management-Discussion (1)

Supply Chain Management-Discussion

Q Address the following questions in this week's discussion. • What are three tools used to support planning and collaboration in the supply chain? How do these tools improve planning and collaboration? • Managing inventory is a critical function in logistics and supply chain management. What are reasons for holding inventory?

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Innovation and technology have a huge impact on the supply chain management of an organization. It helps the organization to manage its supply chain more efficiently. The following three tools help the organization in planning and collaboration in its supply chain: • Inventory Management: Inventory refers to the stock of the stock or stored goods that can be used later. The inventory includes raw material or finished goods. The Inventory management system helps the organization to manage the inventories throughout its supply chain as it optimizes the Multi-Echelon Inventory Decisions (Stock & Manrodt, 2020).