The Definitive Guide to Inventory Management

Master and apply both the technical and behavioral skills you need to succeed in any inventory management role or function! Now, there's an authoritative and comprehensive guide to best-practice inventory management in any organization. Authored by world-class experts in collaboration with the Council of Supply Chain Management Professionals (CSCMP), this text illuminates planning, organizing, controlling, directing, motivating and coordinating all the activities used to efficiently control product flow. The Definitive Guide to Inventory Management covers long-term strategic decisions; mid-term tactical decisions; and even short-term operational decisions. Topics discussed include: * Basic inventory management goals, roles, concepts, purposes, and terminology * Key inventory management elements, processes, and interactions * Principles/strategies for establishing efficient and effective inventory flows * Using technology in inventory planning and management * New approaches to inventory reduction: postponement, vendor-managed inventories, cross-docking, and quick response systems * Trade-offs between inventory and transportation costs, including carrying costs * Requirements and challenges of global inventory management * Best practices, metrics, and frameworks for assessing inventory management performanceChapter 1: Introduction to Inventory 1 Chapter 2: Inventory Management Fundamentals 9 Chapter 3: Inventory Control 31 Chapter 4: The Link Between Inventory Management and Forecasting 69 Chapter 5: Discrete Event Simulation of Inventory Processes 111 Chapter 6: Additional Inventory Management Processes and Concepts 129 Chapter 7: Managing Supply Chain Inventory Flows 155 Chapter 8: Inventory Performance Measurement 175 Index 189