Best Practice in Inventory Management

Name: Best Practice in Inventory Management
Price: 9.09 USD
Availability: InStock
ISBN: 9780750654586

ISBN-10: 0750654589

ISBN-13: 9780750654586

Edition: 2nd 2002 (Revised)

Authors: Tony Wild

List price: $75.95

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Description:

Good management of inventory enables companies to improve their customer service, cash flow and profitability. 'Best Practice in Inventory Management' outlines the basic techniques, how and where to apply them, and provides advice to ensure they work to produce the desired effect in practice. the book shows how inventory management techniques can be used in a wide variety of situations, particularly in stores where the inventory can be anything from fast moving products to slow moving spares. The discussion extends across distribution warehousing and manufacturers' operations. The text is based on best theory and practice, which has been gradually developed by the inventory management…

Book details

List price: $75.95
Edition: 2nd
Copyright year: 2002
Publisher: Routledge
Publication date: 8/9/2002
Binding: Paperback
Pages: 278
Size: 6.00" wide x 9.00" long x 0.50" tall
Weight: 0.968
Language: English

TONY WILD, BSc, MSc, PhD, MIOM, is a specialist in logistics and materials management. He has been closely associated with the development of logistics supply chains for many high-technology companies. Dr. Wild is Managing Director of Midas Consultants and has had a long association with the Institute of Operations Management (formerly BPICS) acting as council member, treasurer, and branch president.



Preface


Introduction



The basis of inventory control


The role of inventory management


Objectives for inventory control


Profit through inventory management


Reasons for the current stock



Customer service


Meeting customer requirements


Measuring availability


Demand management



Managing the inventory


Using Pareto analysis for control


Stock cover


Practical methods of reducing stockholding


The approach - how to reduce stocks successfully



Just-in-time management


The zero inventory philosophy


JIT environment


Advantages of JIT


Stock control using JIT



Organization and management


Where stock control fits into the organization


Responsibilities and targets


Inventory valuation


Skills and systems



Safety stocks


Learning from history


Normal demand patterns


Evaluation of safety stocks



Setting the right stock levels


Simple assessment of review levels


Managing lead times


Target stock levels



The changing role of purchasing


Modern supply practice


Supply partnerships


The ordering process


Order quantities


Purchasing processes



Forecasting demand


Options for assessing demand


Causes of forecasting inaccuracy


Methods of improving forecasts



Historical forecasting techniques


Basic forecasting techniques


Weighted averages


Choosing the best forecast


Monitoring forecasts



Advanced forecasting methods


More forecasting tools


Forecasting for seasonal sales


Other methods



Material requirements planning - an alternative to forecasting


Avoiding uncertainty


Material requirements planning


Master planning


Batch sizes



The future - inventory and logistics


The basis of the lean supply chain


Logistics


Review