Music Industry Inventory

I believe in some industries inventories will not be needed in the future, such as in the music industry and also the film industry, with the likes of Netflix and Hulu Plus coming in to dominance. In there area I believe there influence is only going to continue to grow. However, Inventory is hugely important in nearly all other business. For the like of manufactures whom need raw material inventory to create and assemble their products, in which retailers and distributors then purchase as inventory to sell on. Inventories are important for sales, as the company wants the product on hand to sell when it is in demand. Not having it on hand could lead to a loss of a sale and may not only just a lose a sale but this may lead to losing a reoccurring

consumer to a competitor.

Companies functionalities are related to priority systems, which why it is of high importance. Manufacturing and service organizations decide what work needs to be done and when it needs to be done in order to finish the project in the most efficient and timely manner to coincide with the scheduled finish time of said project. Take a hospital for instance people who are rushed into hospital in ambulance have a high priority to been given medical treatment that someone who is capable of walking in the hospital to receive a check up.

Managing capacity and employers is done through scheduling workforce schedule, where employees are determined when they work. This type of scheduling is massively important not only to the running of the airline but also due to customer satisfaction as no one wants to endure delays while flying. However the most important reason to the airline is the financial cost, as delays equal a loss in earning as through delays they may have a plane on standby for long periods of time.