TRL3703
ASSIGNMENT 2 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 17 SEPTEMBER 2024
, TRL3707
Assignment 2 Semester 2 2024
Unique Number:
Due Date: 17 September 2024
Fundamentals of Industrial Hygiene
Question
1.1: Inventory Management Policy
Theory (5 marks)
Inventory management refers to the systematic approach to sourcing, storing, and
distributing materials effectively and efficiently. A well-formulated inventory
management policy provides guidelines on how to control stock levels, order cycles,
and distribution of goods. It helps minimize costs associated with overstocking or
stockouts, optimize space utilization, and improve responsiveness to demands.
Important elements
1. Demand Forecasting - Ensures the right amount of inventory is available to
meet operational needs.
2. Stock Rotation and Categorization - Efficiently managing items based on their
usage, such as food, medical supplies, and spare parts.
3. Automation and Technology - Modern inventory systems for real-time tracking
and automated replenishment.
4. Inventory Accuracy - Regular audits and checks to ensure stock matches
recorded quantities.
5. Buffer Stock - Maintaining a reserve of critical items to avoid disruptions during
emergencies.
Application (5 marks)
The South African Army relies heavily on its inventory management system to maintain
operational readiness. For example, during wartime, soldiers at the camp receive
ASSIGNMENT 2 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 17 SEPTEMBER 2024
, TRL3707
Assignment 2 Semester 2 2024
Unique Number:
Due Date: 17 September 2024
Fundamentals of Industrial Hygiene
Question
1.1: Inventory Management Policy
Theory (5 marks)
Inventory management refers to the systematic approach to sourcing, storing, and
distributing materials effectively and efficiently. A well-formulated inventory
management policy provides guidelines on how to control stock levels, order cycles,
and distribution of goods. It helps minimize costs associated with overstocking or
stockouts, optimize space utilization, and improve responsiveness to demands.
Important elements
1. Demand Forecasting - Ensures the right amount of inventory is available to
meet operational needs.
2. Stock Rotation and Categorization - Efficiently managing items based on their
usage, such as food, medical supplies, and spare parts.
3. Automation and Technology - Modern inventory systems for real-time tracking
and automated replenishment.
4. Inventory Accuracy - Regular audits and checks to ensure stock matches
recorded quantities.
5. Buffer Stock - Maintaining a reserve of critical items to avoid disruptions during
emergencies.
Application (5 marks)
The South African Army relies heavily on its inventory management system to maintain
operational readiness. For example, during wartime, soldiers at the camp receive
