Inventory Management

Description

Have you ever wondered how your favourite store keeps track of the stock and always keeps your favourite brand of chocolates available for you? The answer is through an inventory? But what is an inventory? An inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business. This book offers ready-to-use insights into the crucial aspects of inventory control, from physical layout to problem identification and resolution. Concentrating on everyday inventory practices, this book addresses essential topics for anyone involved in managing stock.

The book covers forecasting and replenishment strategies, differentiating between finished goods inventories and materials or work-in-process inventories. It delves into materials requirements planning and just-in-time inventory systems, providing a comprehensive understanding of how to manage inventory both as a physical entity and a monetary value. It also explores the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting. The text also discusses systems and processes that identify inventory requirements, set targets, provide replenishment techniques, and report actual and projected inventory status.

Inventory Management is designed to be a valuable resource for readers in the field, providing practical knowledge and strategies for optimizing inventory processes. The author is vastly experienced in his field and is a recipient of many accolades.