[IMGCAP(1)] Definitions of good inventory management can vary greatly from one distributor to the next. Some distributors adhere to the concepts of thinkers like Gordon Graham. Graham, a pioneer and an important force in awakening distributors to the importance of inventory management, advocated easy-to-understand forecasting methods that helped distributors cope with the changing tides of supply and demand. His concepts were also easy to integrate into distribution-centric software solutions.
Recent research in inventory management has led to more advanced concepts and formulas. These new concepts remain simple and compelling. Rather than add complexity, they add depth and flexibility to the inventory management process.