Inventory Management

Inventory management is generally recognised to be of sufficient importance to warrant the appointment of a person to carry specific responsibility for it; possibly along with other areas of the distribution function. Preferably, inventory should be seen as one component of distribution, interacting as it does with all the elements contained therein. This monograph has not been written for the analyst but rather for the person responsible for taking inventory decisions. The aim is to present a general description of the main problem areas and to describe procedures by which the problems can be resolved. Given a broad appreciation a useful dialogue may then be set up with the analyst and more effective use made of the large quantity of data which is invariably available in the distribution field.