DescriptionHolding stock is expensive – problems of inventory control almost universal. Over the past decade organisations have been trying to improve customer service while lowering stocks and increasing the speed of material flow through their supply chains. This completely updated new edition reviews current thinking on inventory management. It emphasises the growth of e-commerce, and the trend away from classical models based on economic order quantities and towards dependent demand systems.
The author sets inventory management in its broader context, discussing the important trends and pressures for change. The main approaches are discussed and evaluated, giving the reader a broad appreciation of the principles involved. Some quantitative ideas are developed in the text, but the author has kept the mathematics to a minimum, focusing on practical examples and calculations on spreadsheets.
PART I: INTRODUCTION.
1. Stocks and Inventories.
2. Stocks within an Organisation.
PART II: METHODS FOR INDEPENDENT DEMAND .
3. Economic Order Quantity .
4. Models for Known Demand.
5. Models for Uncertain Demand.
PART III: INFORMATION FOR INVENTORY MANAGEMENT.
6. Sources of Information .
7. Forecasting Demand .
8. Planning and Stocks .
PART IV: METHODS FOR DEPENDENT DEMAND.
9. Material Requirements Planning.
- Offers a comprehensive view of inventory management, completely rewritten to cover both the classic models and the new trends in inventory control
- New design and layout discards outdated information, and includes material on current areas and issues such as the strategic impact of stocks, integration along the supply chain, lean operations and more
- Spreadsheets are used for all calculations and the Internet as a source of information for discussions and exercises – extra materials for students and instructors will be available from an associated website