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.
Supplementary material for lecturers adopting Inventory Control and Management is available.