Weekly Discussion Question – (25 points)
For this discussion question, you must provid a focused definition of two very important things: quality and inventory. In your answer, please provide a thoughtful definition of the terms quality and inventory as they relate to the source information that you have explored thus far in the course. Then, articulate why these important elements are so important to Highpoint Barnie and the Selfie EIf on a Shelf emerging initiative.
Again, put the focus on the definition while simultaneously demonstrating within your answer how the knowledge of this key content area has a direct and meaningful impact on this project.
Week 5 Discussion Question
In the organization, the two of the most important things which should be looked upon in the organization are the quality and the inventory. These two are an important part of the work; without them, the organization will not be able to run properly and effectively. As per the quality, it can be said that it is an important part of the work. The quality of the work is always seen. The Quality is one of the reasons that the organization’s growth takes place. The quality of something can be determined by comparing a set of inherent characteristics with a set of requirements. The quality is the judgment that how excellent the work is done. It is the comparison which is done between the work that which one is better than then another and also durable as well. Quality in short means the totality of features and characteristics of a product or service that bears on its ability to meet a stated or implied need (Perera, Fahimnia & Tokar, 2020, p.997). It can be said that it describes what is the specialty which the product has with that of the other productsthat. If the quality of the work or the good is good, it attracts most people.
On the other hand, inventory is the raw materials used to produce goods as well as the goods that are available for sale. It is classified as a current asset on a company’s balance sheet. It can be said that the inventory is of the three types of raw material, work-in-progress products, and finished goods. The inventory is the mixtures of all the products whether they are finished or in raw material, all the kinds of goods are included in the inventory. The inventory is an important part of the organization if the inventory is not there then the organization will not be able to run properly. The inventory is the main reason for the proper functioning of the organization if there is no inventory then the organization will stop working. Inventory is an important part of the organization and should be maintained and worked properly so that it can help in the organization’s growth as well. It can be said that inventory is an important part of the organization as without it the business cannot run properly without the inventory the work will also stop in the organization.
It can be said that both of them are related to each other where inventory and quality go hand in hand (Zonnenshain & Kennett, 2022, p.615). If the quality of the good is not good then the organization cannot run properly. If the inventory product gets shortage, then also their production of the product gets stopped. So, it can be said that both go hand in hand and both of them are dependent on each other. So, if any of the two things get disturbed then it will hamper the organization severely. So, it can be said that both are important aspects of the organization. These two help the organization in its growth as without them growth is not possible as well.
Perera, H. N., Fahimnia, B., & Tokar, T. (2020). Inventory and order decisions: a systematic review on research-driven through behavioral experiments. International Journal of Operations & Production Management, 40(7/8), 997-1039.
Zonnenshain, A., & Kenett, R. S. (2020). Quality 4.0—the challenging future of quality engineering. Quality Engineering, 32(4), 614-626.