Essentials of Inventory Management

This is a straight-talking, no frills guide to real-life inventory management. It has the most thorough introduction available. It features: no abstract theories; just ready-to-use information for new or recently promoted inventory pros; simple, effective formulas and calculations applicable to both finished-goods and manufacturing inventories; and complete troubleshooting strategies. It covers entire breadth of inventory management responsibilities: warehouse layout and physical control, forecasting and replenishment, legal obligations and theft prevention, crisis management, and more. Timeless stock-keeping fundamentals meet up-to-the minute technologies to optimize efficiency and drive profits! Inventory management is about more than counting what youve got. Its about understanding business realities and making decisions that balance current demand with future needswhile 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 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 thorough guide is perfect for both instructional and on-the-job use. Focuses on daily-use inventory concepts to assist with the smooth and cost-effective running of an inventory operation. Shows how to analyse and correct dysfunctions when they occur. Highlights the key differences between finished goods inventories (as found in the retail and distribution sectors) and raw materials and work-in-progress inventories (found in the manufacturing environment). Addresses all items both in their tangible form ("shelf count") and intangible forms ("record count" and monetary worth) Former business executive Muller addresses basic concepts in inventory management from the standpoints of finance, physical control, forecasting, and operations. He explains current practice in "Just-in-time" models, discusses differences between finished goods and raw materials, examines basic formulae for calculating inventory, and explores the analysis of dysfunction. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com) 1. Inventory As Both A Tangible And An Intangible Object -- 2. Inventory As Money -- 3. Physical Location And Control Of Inventory -- 4. The Basics Of Bar Coding -- 5. Planning And Replenishment Concepts -- 6. Why Inventory Systems Fail And How To Fix Them -- 7. Protecting Inventory. Max Muller. Includes Bibliographical References And Index. The objective of this chapter is to provide you with a basic understanding of the nature of inventory as both a tangible, physical item actually kept within the facility ("real life" or "shelf count") and as an intangible item existing within the company's records ("paper life" or record count"). sample.pdf -1 sterling.com -1 Welcome to Sterling Software -1