Present assignment discusses about Emma Inventory Solution limited company engages in medical devices and products

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Identify the type of inventory system (fixed order quantity system, fixed order period system, or a hybrid system) it uses. 

The present solution discusses about Emma Inventory Solution limited Company. The company engages in medical devices and products which can be sold without a prescription from licensed practitioner. The film can be referred as switch to order quantity system, as they have the system for continuous monitoring and replacement of the stocks within time-bound and fixed quantities. As a result of which, the system manages to keep the stock at a fairly stable level unless there is a significant increase in market demand. Notably, the Firm uses a software solution that can keep the track record of resources in-hand, ordered materials, and future inventory management issues (Pal, 2015).

Indicate the type of inventory issues the firm has such as stock out costs, carrying costs, order quantity issues, safety stock and EOQ issue. 

Among the commonly used medical devices, stethoscopes and thermometer are the most selling material that has continuous replacement in the stock. However for other devices such as Ophthalmoscopes, Otoscopes and Electrocardiographs which have a caring cost for the firm. The reason being that deleted three devices are less commonly used by registered practitioners however shortage of any such devices could prove deteriorates with reference to the community health issues. In addition to this, the firm also have inventory stocks for bandage, addresses, antibacterial solutions, and hygiene products, which smooth stock-out and replacement trend. However, in recent times because of several newer pharmacies in the locality, the order quantity issues for the firm is now proving to be non-profitable. The prime reason is linked with the reduced total demand of the units per year with respect to the inventory size(Pal, 2015). 

 Your opinion, is their system appropriate for the firm’s business? Why or why not? 

In my opinion, the current system is inappropriate for the firm's business. Rather the company should adopt a hybrid system of inventory management where the manufacturing and distribution of certain medical devices which are in less use should go simultaneously. This approach will not only reduce the carrying cost but will also reduce the EOQ issues, making the business to achieve profit (Niakan&Rahimi, 2015). 

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