Good management of inventory enables companies to improve their customer service, cash flow and profitability. 'Best Practice in Inventory Management' outlines the basic techniques, how and where to apply them, and provides advice to ensure they work to produce the desired effect in practice. The book shows how inventory management techniques can be used in a wide variety of situations, particularly in stores where the inventory can be anything from fast moving products to slow moving spares. The discussion extends across distribution warehousing and manufacturers' operations. The text is based on best theory and practice, which has been gradually developed by the inventory management profession over the years. It covers the inventory control aspects included in the courses for the DPIM, COM, DLM, CPIM and other professional and academic qualifications. Readers develop their understanding of stock control by seeing the techniques explained logically and learn how inventory structuring, individual item control, forecasting and co-ordination provide the base for logistics management. This new edition has been up-dated throughout and the final chapter, The Future - Inventory and Logistics, has been re-written to reflect the developing applications of technology and changes in focus.

Author Biography

Tony Wild has spend a great deal of time solving real inventory issues for businesses in a variety of industries from aerospace to retail consumables, automotive to process chemicals. The result of this work has led Tony to produce and refine this book so that others can avoid some of the pitfalls. From an academic start (B.Sc, M.Sc. Ph D), and a manufacturing and warehousing career in production control and materials management, Tony has specialised in this challenging field. He is Managing Director of Midas Consultants, who are leading experts in inventory management.