Best Practice in Inventory Management - Hardcover

Wild, Tony

Hardcover

ISBN 10: 1855733102 ISBN 13: 9781855733107

Publisher: Woodhead Publishing Ltd, 1997

Synopsis

Good management of inventory enable companies to improve their customer service, cash flow and also profitability.

This book shows the basic techniques, how and where to apply them, and how to ensure that they work correctly. Readers will be able to use the book as a manual for making improvements in stock control and for saving money. The techniques are described in the context of stores operations which can be applied in a variety of situations including distribution warehousing, spares and service, manufacturing and consumable stores.

As the text is based on best theory and practice, it covers the aspects of inventory control included in the syllabi for the DPM, CPIM, DLM and other professional and academic qualifications. Those who want to develop their understanding of stock control will see the techniques develop logically from the targets through inventory structuring, individual item control, forecasting and co-ordination providing the basis for logistic management.

Outlines the basic techniques of inventory management and how to apply them
Is suitable for those studying for the DPM, CPIM, DLM and other professional and academic qualifications that include inventory control as part of the syllabus
Is published in association with The Institute of Operations Management

About this title

From the Back Cover:

A groundbreaking, up-to-date look at the Best Practice in Inventory Management

"This book is aimed to show how good inventory control can be used in practice. It is a result of working continuously on inventory control with a large number of companies over many years. It contains the distilled techniques which have been tried out and proved to work. . . . [It] is a driver's manual of inventory controllers. It will cover the working of the engine (how inventory control techniques work), how to use the controls (what the techniques do and how to manage them), and how to get the best out of the vehicle (how to optimize inventory). Understand the text and it will show the way to guaranteed improved inventory control, reduced stock levels, and higher availability."--from the Preface

"The development of inventory management is a dynamic activity, with new approaches being made, techniques being refined, and new challenges being met. . . .

It is imperative that [these] challenges are met, since continuing competitiveness is based on ever-improving customer service and ever-reducing inventory costs."--from the text

As a vital function of an organization's operational structure, effective inventory management is key to improving a company's customer service, cash flow, and ultimately, its profitability margin. While it may sound simple, it is, in fact, far more complex than most managers perceive, requiring very specific knowledge and understanding. It is based upon a framework of unique tools and techniques essential to achieving complete success. Best Practice in Inventory Management gives you these essentials, with in-depth coverage of the latest practices in the field. The book delivers a wealth of solid solutions for lowering inventory overhead, bettering customer relations, and increasing productivity and performance.

An ideal reference for APICS certification candidates, as well as participants in training programs, this authoritative resource outlines basic techniques, describes how and where to apply them, and explains how to ensure their effective implementation. The techniques are placed within the context of stores operations, which can be applied in a variety of situations, from manufacturing and distribution to warehousing, consumable stores, and spares and service.

Best Practice in Inventory Management follows a logical progression, beginning with targets and moving forward through inventory structuring, individual item control, and coordination. In the process, it probes cutting-edge strategies, including Pareto analysis, Just in Time (JIT), and Material Requirements Planning (MRP), and offers a rational approach to the risks of stockouts. Aided by a host of new applications, practical methods, and real-world examples, you'll learn to implement a variety of processes vital to inventory structure and control. From effective stock monitoring to forecasting, setting, and assessing stock level guidelines, this book outlines the crucial steps in having suitable product available at an acceptable price and within a reasonable timescale.

Synopsis:

A guide to inventory management. The author describes the basic techniques, how and when to apply them, and how to ensure that they work correctly. Readers should be able to use the book as a manual for making improvements in stock control and for reducing costs. The techniques are described in the context of stores operations which can be applied in a variety of situations including distribution warehousing, spares and service, manufacturing and consumable stores. As the text is based on theory and practice, it covers the aspects of inventory control included in the syllabi for the DPM, CPIM, DLM and other professional and academic qualifications.

About this edition

• Publisher: Woodhead Publishing Ltd
• Publication date: 1997
• ISBN 10: 1855733102
• ISBN 13: 9781855733107
• Binding: Hardcover
• Number of pages: 204