CHAPTER 6
Inventory Management in the Pharma Industry
6.1 WHAT IS INVENTORY?
Supply chain is essentially, inventory (materials/products) from the supplier to the customer and its movement; refining it further, from supplier’s supplier to customer’s customer.
The management of physical materials continues to be the core activity of materials management, which is an integral part of supply chain management.
We come across ‘stocks’ at various nodes of the supply chain from the customer to the supplier. The stocks are maintained so that the next link in the supply chain is not starved/weakened.
We keep stocks/inventory of materials so that the production demand is met.
We keep finished goods, i.e., product stocks/inventory so that the market demand ...
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