Inventory Management

The goal of "Inventory Management" is to explain the dynamics of inventory management's principles, concepts, and techniques as they relate to the entire supply chain (customer demand, distribution, and product transformation processes). The interrelationships of all functions should be defined. The book concentrates on understanding the many ramifications of inventory management. In the competitive business environment, inventory management has proven to be critical. This book is directed at the management of inventory to enable a better understanding of the body of knowledge required to operate in a competitive world. Almost all functions such as sales, engineering, and accounting have an impact and are impacted by inventory management. The book should assist in the training of students as well as APICS CPIM (Certified in Production and Inventory Management) candidates. As such it is not only a textbook, but also a desk reference for those employees responsible for controlling inventories, and thereby assist in reducing cost, improving customer service, and maximizing capacity. Each chapter concludes with a case study and suggested solution.The case studies tell the story of a growing company, Smith Industries, and the related inventory management problems it has to address. The problems addressed relate to the subject matter of the chapter.