16 Oct Unit 1_MT437_Discussion response
13714Respond or elaborate on the discussion post below:
Strategic Reserve or safety stock is the extra inventory that is held by an organization to ensure that consumer demand is met while accounting for supply chain disruptions, changes in market conditions, and operational delays (Bowersox et. al., 2023). To know how much reserves should be purchased, requires logicians and inventory managers to calculate lead times, supplier reliability, and demand fluctuations to determine the amount of additional inventory that should be purchased and understand the trade-offs for doing so. This buffer stock ensures that organizations can continue to deliver goods without having to worry about unexpected event that would prevent customer satisfaction.
The amount of strategic reserve organizations will keep on hand is different in each industry and is determined the risks encountered by them. For example, in the Food & Beverage industry, strategic reserves typically fall between 10%-15% of the forecasted demand to account for perishability of cold chain goods (dry goods can last months to years) and seasonal demand shifts. Furthermore, buyers will also have to account for the risk of goods being damaged during transit and manufacture defects when they arise. By purchasing the additional inventory, this ensures organizations can manage uncertain events by calculating the risk and enabling agile decision-making with the buffed reserves. Moreover, organizations are more likely to protect their service reputation if their fulfillment levels are consistent enough to maintain customer satisfaction and guarantee repeat purchases of their goods.
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