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Smart, strategic inventory management delivers competitive advantage, yet Inventory Turn trends suggest that little seems to change. Sustainable improvement through increasing control of systems and processes generates savings that can, in turn, be invested in growth initiatives. Inventory is not something that just concerns planning, production and finance. By working to better understand and control their inventory-related processes, everyone can drive improvements that will harness inventory’s potential to become a source of sustainable competitive advantage. Unlike other guides to inventory management, this book is not only aimed at planners or inventory managers, but details the impact, both direct and indirect, that all functions have on inventory. It is rich in practical tools that can be clearly implemented, including a detailed purchasing strategy and guide to error management. It is also rich in best-practice cases that further show how to implement these methodologies in a real-world context. This book is essential reading for any manager or executive looking to boost their organisation’s competitive advantage, as well as students of inventory management, production and operations management.
The value of inventory is a difficult figure to pin down, and yet it must be properly derived in order to create accurate financial statements. Accounting for Inventory enhances the accountant's ability to derive an accurate valuation, every time. It does so by delving into inventory counting systems, cost layering, standard costing, overhead allocation, the lower of cost or market rule, disclosures, measurements, and much more. This book is an essential tool for dealing with one of the largest and most complex assets on the balance sheet.
Authored by a team of experts, the new edition of this bestseller presents practical techniques for managing inventory and production throughout supply chains. It covers the current context of inventory and production management, replenishment systems for managing individual inventories within a firm, managing inventory in multiple locations and firms, and production management. The book presents sophisticated concepts and solutions with an eye towards today’s economy of global demand, cost-saving, and rapid cycles. It explains how to decrease working capital and how to deal with coordinating chains across boundaries.