Book Description:
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.
Average Rating: 
Rating:
-
I
bought this book expecting to find examples of new ideas developed recently by
businesses that are considered at the top level related to assets management.
What I found was an excellent summary of all the textbooks used in college
for the last 40 years. I could even find a chart we used in class in 1972.
Best Practices in Inventory management must include links to Manufacturing
strategies, postponement of production to delay costs, improve flexibility for
lower number of SKU's |
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