Minnesota Ore Company Mines Iron Ore for Production into Various

question 10

Essay

Minnesota Ore Company mines iron ore for production into various metal products.During recent years,the company has had large fluctuations in its inventories of metal ingots.Much of the volatility of the inventory levels is due to the variability of demand by the company's largest customers,automobile manufacturers.For large orders,the company has the technology to quickly shift production from one product to another.
Required:
Explain how the company can improve its inventory control system and give the advantages of whatever you recommend.

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Definitions:

GPS

The Global Positioning System is a satellite-driven navigation technology that offers data on location and time to users anywhere on or close to the Earth's surface.

Handheld Computers/Scanners

Portable electronic devices equipped with a scanner for reading barcodes or RFID tags, often used in inventory management, logistics, and point-of-sale systems.

Automated Vehicles

vehicles equipped with technology that allows them to navigate and operate without human input.

IoT Communications

The exchange of data and information between Internet of Things (IoT) devices and systems over various communication protocols.