inventory

The butterfly effect: how a bad soup in China caused a stockout of toilet paper

Supply chains are complex and interrelated connections between different companies. During the last few decades, globalization led to supply chains spanning throughout the globe. Various sources of economies of scale created a de-industrialization of Western countries, with many relying on…

Key Performance Indicators (KPIs) for Inventory Planning and Control

January 15, 2017

Keeping inventories at the exact desired level is not an easy task. It requires coordination between purchasing, sales, forecasting and demand planning. Very high inventories guarantee demand satisfaction but incur high costs. Low inventories ensure low maintenance costs but involves…

What is inventory management?

January 3, 2017

Inventory management, in the context of an industry, usually refers to the material resources management that can help the company generate revenue in the future. The person responsible for this part of the management is the Operations Manager. For example,…