August 2011
Intermediate to advanced
556 pages
19h 45m
English
Content preview from Supply Chain Management
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12
Inventory Management
“It’s easy to turn cash into inventory… the challenge is to turn inventory back”
—Jon Schreibfeder1
Chapter Objectives
To understand:
- Role of inventory in supply chain
- Inventory classification and functions
- Inventory-related costs and risk pooling
- Managing inventory
- Inventory policy guidelines
Inventory Planning
Inventory levels are affected by the level of customer service, demand variations and flexibility in business operations. Hence, managing the inventory is the most important function of supply chain to achieve trade-off between cost and customer service. Inventory decisions fall in high risk areas ...
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