Achieving Effective Inventory Management, 6th Edition

Product Description

In the new 6th edition of Achieving Effective Inventory Management, we combine new techniques and technologies with time-proven EIM concepts to make your operations as lean as possible while still meeting or exceeding your customers expectations of product availability. Inventory is probably a significant, if not your organization's largest asset. We strive to tie up the least amount of cash as possible in inventory and to make sure that every dollar invested in inventory is there for a specific purpose. We also strive to identify unproductive (excess, slow-moving, or dead ) inventory and remove it from our warehouses, stores, and other facilities. Topics we discuss include: Different departments and individuals roles in achieving effective inventory management; What products should be stocked in each location? Challenges in stocking material to be resold and maintenance, repairs and operations (MRO) inventory; Enhanced forecasting logic including considering promotions, trends, weather and event-based seasonality, as well as collaborative information from customers, salespeople and management; Differences in maintaining products with sporadic and recurring usage; Determining when the stock of each item should be replenished; Intelligently deciding how much should you buy or make; Effectively using safety stock to balance customer service and your investment in stock inventory; When to utilize distribution centers and central warehouses; How do you determine whether a product in a specific location should be replenished with a transfer from another location or purchased from a vendor? Challenges of import purchasing, long lead times and pre-season buys; Manufacturing Requirements Planning (MRP); Distribution Requirements Planning (DRP); How do you decide when to take advantage of special deals offered by vendors? How should you decide whether to stock a new product? Calculating your ideal inventory investment; Establishing inventory budgets for each warehouse and product/vendor line; How to identify and liquidate unwanted stock; How to effectively organize your warehouse(s) and other storage facilities; Effective warehouse and facility layouts; Efficient warehouse and material handling operations; Evaluating new technologies; How do you continually maintain accurate on-hand quantities? How should you determine your inventory goals and ways to measure your progress in achieving these goals? Metrics to monitor your progress in achieving your inventory-related goals; Implementing a comprehensive program to achieve effective inventory management. So, whether you are an electrical manufacturer in the United States; a food distributor in Bermuda, or the manager of MRO inventory for a utility in Japan, this new 6th edition of Achieving Effective Inventory Management will provide you with new ideas that you can immediately use, as well as the fundamentals of inventory management and inventory control.

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