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Achieving Effective Inventory Management: Fifth Edition
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It's easy to change cash into inventory ... the challenge is to turn inventory back into cash!
Today most business owners and managers have a different view of their inventory than they had a couple of years ago. There is an urgency to do more with less; to be sure that every dollar invested in inventory is there for a specific purpose; and to remove the "fat" (ie, the unneeded stock) from their stores, warehouses and other facilities where products are maintained.
In this edition of Achieving Effective Inventory Management, the author - Jon Schreibfeder - explores techniques you can use to operate as "lean" as possible. In addition, he guides you in determining whether each segment of your inventory should be managed to maximize cash flow or profit, while still meeting or exceeding your customers' expectations of product availability.
Here's what's discussed:
- What products should be stocked in each location?
- When should the stock of each item be replenished?
- How much should you buy or make?
- How should the products be stored not only to protect them but minimize the cost of filling orders?
- How should you determine your inventory goals and ways to measure your progress in achieving these goals?
This book is customized to today's difficult and unpredictable economic times. It also focuses on preparing and strengthening for the recovery. Every challenge provides opportunity. If you streamline your operations and adopt best practices now you will be in great shape to maximize the profitability and productivity in stock inventory in better economic times.
Whether you are an industrial parts manufacturer or distributor in the U.S., a food distributor in Bermuda, a parts distribution manager for a car manufacturer in Japan, or the manager of MRO inventory for a utility in Malaysia, this book should provide you with new ideas you can immediately implement, as well as a course in the fundamentals of inventory control and management.
Table of Contents
- Chapter 1: Focus on Inventory
- Chapter 2: Get Your (Ware)House in Order
- Chapter 3: Demand Forecasts and Usage
- Chapter 4: Anticipated Lead Times & Safety Stock
- Chapter 5: The Order Cycle and the Line Point
- Chapter 6: The Economic Order Quantity
- Chapter 7: Other Replenishment Methods
- Chapter 8: Your Investment in Stock Inventory
- Chapter 9: The Replenishment Process
- Chapter 10: Physical Inventory & Cycle Counting
- Summary: What Do You Do Now?
- Appendix A: Calculating the Carrying Cost Percentage
- Appendix B: Calculating the Cost of Reordering Inventory
- Appendix C: Inventory Policies & Procedures Manual Guidelines
- Appendix D: A Test of Your Knowledge of Effective Inventory Management