Essentials of Inventory Management

Inventory management is about more than counting what you have got. It is about figuring out business realities and making decisions that balance current demand with future needs-whilst keeping overhead and operating costs to a minimum. Now in its Second Edition, Essentials of Inventory Management gives inventory professionals the guidelines they want to maximize productivity in key areas, from physical stock issues to problem identification and resolution to technologies like RFID and other automated inventory mechanisms. Easiest for novice and veteran managers alike, this ultra-practical book covers topics such as: Forecasting and replenishment strategies * Differences between retail and manufacturing inventories * Materials requirements making plans and just-in-time inventory systems * Simple formulas for calculating quantities and schedules * Management of inventory as a physical reality and a monetary value * Supply chain risk management Complete with detailed examples, at hand tools, and a revised and expanded chapter analyzing “Why Inventory Systems Fail and Tips on how to Fix Them,” this nontechnical yet thorough guide is Easiest for both instructional and on-the-job use.