Inventory costs and levels have declined in relation to the gross domestic product (GDP) in recent years. Carrying high levels of inventory can be...

1. Inventory costs and levels have declined in relation to the gross domestic product (GDP) in recent years. Carrying high levels of inventory can be costly and risky. Organizations are developing techniques to reduce the levels of inventory they must maintain, as well as their associated costs. How have new approaches influenced inventory information delivery in your organization? Describe: 1) any significant declines in inventory costs (this can include digital storage) and levels for your organization over the span of the past 20 years, 2) how have costs of carrying high levels of inventory (such as financing, opportunity, obsolescence, and pilferage) in your organization changed as a result, and 3) what benefits you can attribute to these declines. Discuss any best practices that leading companies are employing in your industry.2. Historically, the use of trucking has vastly outweighed the use of other modes of transportation. With fuel prices on the rise today, and given current economic conditions, it is likely that there will be both short- and long-term changes ahead for most industries using this mode. What changes do you see in the preferred modes of transportation for your industry sector? What changes can you discern among potential areas for improvement? Can you identify any challenges that less-versatile, less-capable companies may face if they cannot be flexible in embracing new modes of transportation? Describe some of the best practices, in the area of transportation mode utilization, that leading companies in your industry have embraced. "The company" can replace "your company"