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 stock outs. 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.

Best Practice in Inventory Management (Oliver Wight Companies) | Tony Wild (Author) | John Wiley & Sons Inc

Features:
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.
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 (Oliver Wight Companies)

Table of Contents
Chapter 1: The Basis of Inventory Control.
Chapter 2: Customer Service.
Chapter 3: Managing the Inventory.
Chapter 4: Just in Time Management.
Chapter 5: Organisation and Management.
Chapter 6: Safety Stocks.
Chapter 7: Setting the Right Stock Levels.
Chapter 8: The Changing Role of Purchasing.
Chapter 9: Forecasting Demand.
Chapter 10: Historical Forecasting Techniques.
Chapter 11: Advanced Forecasting Methods.
Chapter 12: Material Requirements Planning—An Alternative to Forecasting.
Chapter 13: The Future—Inventory and Logistics.
Appendix