Inventory Control and Management - Hardcover

Waters, Donald

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9780471930815: Inventory Control and Management

Hardcover

ISBN 10: 0471930814 ISBN 13: 9780471930815

Publisher: Wiley, 1992

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Inventory Control and Management C. D. J. Waters University of Calgary, Canada Holding stock is expensive—problems of inventory control almost universal. Based on sound theoretical principles this book describes the methods of inventory control which have developed over many years and proved most useful in practice. Covering both the traditional independent demand systems, quantitative models and forecast demand, and the more recent dependent demand systems, MRP and JIT, Inventory Control and Management presents a clear and practical guide to the subject. Although some quantitative ideas are developed in the text the author has kept mathematics to a minimum, allowing the reader to develop a thorough understanding of the principles involved. He uses practical examples to emphasise the value of stock control, as well as describing the context in which such decisions are made. Assuming no prior knowledge of the subject area, this book will provide students of management, operational research and production—as well as practitioners—with an indispensable guide to inventory control.

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From the Publisher:

Balances both theory and practice, emphasizing the most effective and proven methods of inventory control without getting bogged down in mathematical manipulation. Divided into 3 sections beginning with the purpose of stock, costs involved, the objectives of stock control, etc. Section Two examines independent demand inventory systems which are based on quantitative models and forecast demand. Lastly, it describes dependent demand systems, focusing on material requirements planning, Just-in-Time systems and the methods of scheduling. Each chapter contains frequent summaries of key issues, self assessment questions and solutions, problems, examples and references for further reading.

From the Back Cover:

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.

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