December 2012
Intermediate to advanced
561 pages
22h 33m
English
Content preview from Logistics Management ,3rd Edition by Pearson
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Inventory Management • 111
7.3 INVENTORY FUNCTIONALITY
Irrespective of its location in the supply chain, product inventory essentially serves the following
functions:
Balancing Supply and Demand. The production and consumption cycles never matches. The
sudden requirement of a product in large quantities may not be fulfi lled immediately as the pro-
duction cannot be taken up so soon. In such a case, the products are manufactured in advance in
anticipation of demand and kept in stock for supply during the peak period.
Periodic Variation. For seasonal products the demand is at its peak for a certain period while it is
lean for the rest of the ...
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