Holding stock is expensive - problems of inventory control almost universal. Over the past decade
organisations have been trying to improve customer service while lowering stocks and increasing the
speed of material flow through their supply chains. This completely updated new edition reviews current
thinking on inventory management. It emphasises the growth of e-commerce, and the trend away from
classical models based on economic order quantities and towards dependent demand systems.
The author sets inventory management in its broader context, discussing the important trends and
pressures for change. The main approaches are discussed and evaluated, giving the reader a broad
appreciation of the principles involved. Some quantitative ideas are developed in the text, but the
author has kept the mathematics to a minimum, focusing on practical examples and calculations on
spreadsheets.
Assuming no prior knowledge of the subject area, this book provides students of management, operations
management, management science and production - as well as practitioners- with an indispensable guide to
inventory control.
