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Essentials of Inventory Management

ISBN-10: 0814416551
ISBN-13: 9780814416556
Edition: 2nd 2011
Authors: Max Muller
List price: $58.95 Buy it from $19.62
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Description: Inventory management is about more than counting what you've got. It's about understanding business realities and making decisions that balance current demand with future needs - while keeping overhead and operating costs to a minimum. Now in its  More...

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Book details

List price: $58.95
Edition: 2nd
Copyright year: 2011
Publisher: Amacom
Publication date: 5/5/2011
Binding: Hardcover
Pages: 272
Size: 6.13" wide x 9.25" long x 1.03" tall
Weight: 1.474
Language: English

Inventory management is about more than counting what you've got. It's about understanding business realities and making decisions that balance current demand with future needs - while keeping overhead and operating costs to a minimum. Now in its Second Edition, Essentials of Inventory Management gives inventory professionals the information they need to maximize productivity in key areas, from physical stock issues to problem identification and resolution to technologies like RFID and other automated inventory mechanisms. Perfect 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 planning 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, handy tools, and a revised and expanded chapter analyzing "Why Inventory Systems Fail and How to Fix Them," this nontechnical yet throrough guide is perfect for both instructional and on-the-job use.

Preface to the Second Edition
Inventory as Both a Tangible and an Intangible Object
Inventory-Who Needs It?
Inventory Costs
The Purpose of Inventory
Types of Stock
Tracking the Paper Life
Electronic Data Interchange
Recap
Review Questions
Inventory as Money
Accounting for Inventories
How Inventory Is Valued
Inventory on the Balance Sheet
Inventory on the Income Statement
Ratio Analyses and What They Mean
Current Ratio
Quick Ratio or Acid Test
Inventory Turnover Ratio
Profit Margins
Calculating Gross Profit
Merchandising Metrics
Pricing Generally
Selling Price
Obsolete Stock
Why You Have Been Told Not to Dispose of Obsolete Stock
Problems with Convincing Decision Makers That "It's Gotta Go"
Arguments in Favor of Disposing of Dead Stock
Methods of Disposal
Carrying Cost and Purchasing
Recap
Review Questions
Physical Location and Control of Inventory
Common Locator Systems
Memory Systems
Fixed Location Systems
Zoning Systems
Random Locator Systems
Combination Systems
Common Item Placement Theories
Inventory Stratification
Family Grouping
Special Considerations
Location Addresses and SKU Identifiers
Significance
Keys to Effectively Tying Together SKUs and Location Addresses
Recap
Review Questions
Automatic Identification
The Basics of Bar Coding
Elements of a Bar Code Symbol
Structure of a Generic Bar Code Symbol
Quiet Zone
Start and Stop Characters
Data Characters
"X" Dimension
Symbologies: Bar Coding Structural Rules
Discrete and Continuous Symbologies
Symbology Summary
Popular Symbologies Found in the Inventory World
Scanning Basics
Printing Basics
Bar Code Applications
The Basics of Radio-Frequency Identification
RFID Tag Types and Classes
Bar Code versus RFID
RFID Item Identification
The Advantages of RFID
The Problems Associated with RFID
Lack of RFID Standards
Money, Money, Money
System Disruption Vulnerability
RFID Reader Collision
RFID Tag Collision
Security, Privacy, and Ethics Problems with RFID
Recap
Review Questions
Planning and Replenishment Concepts
Replenishment Costs
Types of Inventory Management
Independent Demand Inventory
Economic Order Quantity Formula
Dependent Demand Inventory
Inventory Objectives
Enterprise Resource Planning
Recap
Review Questions
Why Inventory Systems Fail and How to Fix Them
Inventory System Failure: A Case Example
Discussion of Example Case
Metrics
Inventory Record Accuracy
Fill Rates
Tools with Which to Uncover System Dysfunctions
Run Charts
Flow Charts
Logic Charts
Variance Reports
Cycle Counting
Annual Inventories
Cycle Counting
Cycle Count Methodologies
Control Group Cycle Counting Method
Location Audit Cycle Counting Method
Random Selection Cycle Counting Method
Diminishing Population Cycle Counting Method
Product Categories Cycle Counting Method
A-B-C Analysis Cycle Counting Method
When to Count
Who Should Count
Recap
Review Questions
Basics of Supply Chain Risk Management
SCM in a Perfect World
Primary Risks in SCM
Globalization and Supply Chain Complexity
Conflicting Interests
System Fluctuations over Time
Evolving Relationships
Product Complexity
Inadequacy of Insurance
Suppliers
The Bullwhip Effect
Disruption in Communications
Inadequate Software
Suggested Solutions to SCM Problems
Analysis of Risks
Supplier Assessment
Lessen the Bullwhip Effect Through Coordination Within the Supply Chain
Contracts That Do and Don't Coordinate the Supply Chain
Inventory Levels
Recap
Review Questions
Bibliography
Index

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