MTU Library Catalogue

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The definitive guide to inventory management : principles and strategies for the efficient flow of inventory across the supply chain / Council of Supply Chain Management Professionals, Matthew A. Waller and Terry L. Esper.

By: Waller, Matthew A [author.].
Contributor(s): Esper, Terry L [author.].
Material type: materialTypeLabelBookPublisher: Upper Saddle River, New Jersey : Pearson Education, Inc., [2014]Copyright date: ©2014Description: xii, 195 pages : illustrations ; 24 cm.Content type: text Media type: unmediated Carrier type: volumeISBN: 9780133448825 (hardcover); 0133448827 (hardcover).Other title: Principles and strategies for the efficient flow of inventory across the supply chain.Subject(s): Inventory control | Purchasing & supply managementDDC classification: 658.787 WAL

Enhanced descriptions from Syndetics:

Master and apply both the technical and behavioral skills you need to succeed in any inventory management role or function! Now, there's an authoritative and comprehensive guide to best-practice inventory management in any organization. Authored by world-class experts in collaboration with the Council of Supply Chain Management Professionals (CSCMP), this text illuminates planning, organizing, controlling, directing, motivating and coordinating all the activities used to efficiently control product flow. The Definitive Guide to Inventory Management covers long-term strategic decisions; mid-term tactical decisions; and even short-term operational decisions. Topics discussed include:

Basic inventory management goals, roles, concepts, purposes, and terminology Key inventory management elements, processes, and interactions Principles/strategies for establishing efficient and effective inventory flows Using technology in inventory planning and management New approaches to inventory reduction: postponement, vendor-managed inventories, cross-docking, and quick response systems Trade-offs between inventory and transportation costs, including carrying costs Requirements and challenges of global inventory management Best practices, metrics, and frameworks for assessing inventory management performance

Includes bibliographical references and index.

Table of contents provided by Syndetics

  • Chapter 1 Introduction to Inventory (p. 1)
  • What Is Inventory? (p. 2)
  • The Role of Inventory in Supply Chain Management (p. 4)
  • Why Inventory Is Such an Important Metric for Supply Chain Management (p. 5)
  • Overview of the Book (p. 6)
  • Endnotes (p. 8)
  • Chapter 2 Inventory Management Fundamentals (p. 9)
  • Types of Inventory (p. 9)
  • Inventory Costs (p. 22)
  • Endnotes (p. 27)
  • Chapter 3 Inventory Control (p. 31)
  • Uncertainty in Inventory Processes (p. 31)
  • Inventory Replenishment Processes (p. 36)
  • Demand During Lead Time (p. 40)
  • Expected Units Out Per Replenishment Cycle (p. 51)
  • Total Annual Cost as a Function of Order Quantity (p. 52)
  • Quantity Discounts (p. 64)
  • Endnotes (p. 67)
  • Chapter 4 The Link Between Inventory Management and Forecasting (p. 69)
  • Uncertainty in Demand and Forecasting (p. 70)
  • Time Series Methods (p. 73)
  • Causal Models (p. 103)
  • Endnotes (p. 109)
  • Chapter 5 Discrete Event Simulation of Inventory Processes (p. 111)
  • Understand the Inventory Replenishment Process (p. 112)
  • Randomness in Demand (p. 115)
  • Inventory Simulation in Excel (p. 118)
  • Endnotes (p. 128)
  • Chapter 6 Additional Inventory Management Processes and Conceps (p. 129)
  • Multi-Item Inventory Management (p. 129)
  • Multi-Echelon Inventory Management (p. 131)
  • The Newsvendor Model (p. 135)
  • Censored Distributions (p. 137)
  • ABC Inventory Classification (p. 140)
  • Material Requirements Planning (p. 140)
  • Distribution Requirements Planning (p. 143)
  • Aggregate Inventory Control: Inventory Throughput Functions (p. 143)
  • Storage of Inventory (p. 149)
  • Inventory Record Management (p. 150)
  • Implementation Challenges and Challenging the Incumbent Process (p. 151)
  • Endnotes (p. 152)
  • Chapter 7 Managing Supply Chain Inventory Flows (p. 155)
  • Component Risk Pooling (p. 155)
  • Bullwhip (p. 158)
  • Invetory Postponement (p. 160)
  • Merge-in-Transit (p. 162)
  • Vendor Managed Inventory (p. 162)
  • Consignment (p. 163)
  • Reverse Consignment (p. 163)
  • Collaorative Planning, Forecasting, and Replenishment (p. 164)
  • Push Versus Pull (p. 164)
  • Channel Separation (p. 165)
  • Inventory Placement Optimization (p. 165)
  • The Global Supply Chain Impact (p. 166)
  • Retail and Consumer Products Inventory Management (p. 168)
  • Endnotes (p. 172)
  • Chapter 8 Inventory Performance Measurement (p. 175)
  • Trade-Off Analysis (p. 176)
  • Types of Measures (p. 178)
  • 4-V Model (p. 179)
  • Measurement Systems and Frameworks (p. 183)
  • Management by Exception (p. 184)
  • Measurement Dashboards (p. 184)
  • Endnotes (p. 186)
  • Index (p. 189)

Author notes provided by Syndetics

Matthew A. Waller is the Garrison Endowed Chair in Supply Chain Management and Chair of the Department of Supply Chain Management in the University of Arkansas's Sam M. Walton College of Business. He is also the Chief Data Scientist at Orchestro and Coeditor-In-Chief of The Journal of Business Logistics and has been honored as ab SEC Academic Leadership Fellow. Terry L. Esper, also from the Sam M. Walton College of Business, is the Oren Harris Chair in Logistics and Associate Professor of Supply Chain Management. He also serves as Executive Director of its Supply Chain Management Research Center