Title The Inventory Toolkit, 2/e
Subtitle Business Systems Solutions
Author Geoff Relph, Catherine Milner
ISBN 9780749482121
List price GBP 34.99
Price outside India Available on Request
Original price
Binding Paperback
No of pages 448
Book size 171 x 241 mm
Publishing year 2019
Original publisher Kogan Page Limited
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
About the book Send Enquiry
  
 

Reviews:

“Every inventory manager worth their salt should be working with this book. It has a thorough explanation of the history of inventory management analysis tools, but crucially what they do and how to use them. The Excel examples with formulas are excellent and raises the bar for Inventory analysis texts.”

Sophie Damoglou, Supply Chain Manager, Icomera

 

The Inventory Toolkit examines the three core pillars of inventory management, namely planning, control and balance and takes the reader through each process providing excellent tools and examples to highlight issues and provide solutions. Forecasting and managing inventory is like walking a tightrope - you need to plan, control what you’re doing and your surroundings and keep your balance - this book ensures that your journey is made as easy as possible. Using excellent case studies and problem-solving techniques, this book brings the subject of inventory management to life.”

Gwynne Richards, Lecturer at Warwick and Hong Kong Polytechnic University, author of Warehouse Management

 

“Inventory planning has always been a fundamental element of logistics management. However, in today’s volatile and uncertain business environment it has become even more critical - too much inventory means that costs and risk increase, too little and sales are lost. This book offers clear and practical guidance on how to achieve a better balance between supply and demand to enable the achievement of higher service levels at less cost.”

Martin Christopher, Emeritus Professor of Marketing & Logistics, Cranfield University, UK

Description:

Looking beyond the complexity and theory of inventory management, authors Geoff Relph and Catherine Milner examine managing inventory and achieving targets. Whilst the first edition mainly focused on planning, this new edition of The Inventory Toolkit includes three new chapters that go beyond planning to implementation. Amongst other topics, the new chapters cover holding and moving inventory, working with suppliers and using stack and flow to identify pinch points and facilitate lean and agile operations.

This comprehensive second edition of The Inventory Toolkit includes case studies from diverse industries such as retail and aerospace, and worked examples and regular exercises which illustrate how the inventory tools can be used in an operational setting. It is an invaluable reference guide for students and practitioners focusing on inventory management and operations management in manufacturing and retail, as well as operational staff involved in the implementation of the MRP and inventory management modules of ERP systems.

 

Key Features:

  • Provides extensive guidelines to the key parameters used when planning inventory at the detailed item operational level and tools required to plan inventory at a strategic level.
  • Presents case study examples to provide broader understanding of tools and techniques and to demonstrate where each tool is best applied
  • Includes a comprehensive list of tools used in inventory planning, essential for both students and practitioners
  • New to this edition: chapters on balancing and control, inventory stack and flow, future developments in inventory management and new tools and case studies.
  • Online resources: supporting excel spreadsheets to aid understanding and implementation of inventory planning, with ready-to-use formulae


Contents:

Introduction

Chapter 1: Introduction to inventory management • Introduction • Inventory and inventory management • The three pillars of inventory management • Inventory planning pyramid • Management of inventory in business systems • The cost of inventory and the ability to react to change • Inventory management in the supply chain • Inventory management in the extended supply chain and the ‘Beer Game’ • Five milestones • Summary • References

Chapter 2: Business systems and business • Introduction • The business • Business system development • The building blocks of MRPI, MRPII and ERP • ERP implementation and management • Summary • References • You do the maths

Chapter 3: Inventory balancing and control • Introduction • Process, organization and technology (POT) • Lean and Just in Time (JIT) • Inventory balancing • Inventory control • Extending beyond your company • Summary • Tools and techniques discussed in this chapter • References • You do the maths

Chapter 4: The complexity of inventory management within business systems • Introduction • Inventory planning at its simplest • Complexity in managing inventory in MRPI and MRPII • Measuring success • Summary • Tools and techniques discussed in this chapter • References • You do the maths

Chapter 5: Stack and flow inventories • Introduction • Optimization of stack and flow inventories • Inventory flow • Financial planning: strategic, tactical and operational • Summary • Tools and techniques discussed in this chapter • References • You do the maths

Chapter 6: Traditional thinking in inventory optimization • Introduction • Inventory saw-tooth • Determining the order size • Protecting against supply and demand issues • Normal distribution and Poisson distribution • Normal distributions roles in safety stock • Parts classification • Using Pareto to plan inventory using cycle and safety stock • Developing a plan that will succeed • Summary • Tools and techniques discussed in this chapter • References • You do the maths

Chapter 7: k-curve methodology • Introduction • History of k-curve • Generating a k-curve • Why is it so useful? • Creating a composite curve • Testing the different options for inventory classes • Summary • Tools and techniques discussed in this chapter • References • You do the maths

Chapter 8: The practical application of k-curve • Introduction • Understand your current inventory position: how much have I got? • Determine the business targets that relate to inventory: what do I have to achieve? • Creating inventory plan: how difficult will this be and what must I do? • Implement the plan: what actions must I do to achieve the plan? • Summary • Tools and techniques discussed in this chapter • References

Chapter 9: Case study examples of k-curve planning approach • Introduction • Exchange curve/k-curve case studies • Summary of case studies and lessons learnt • Software applications • Amis-delta • Parameter alignment tools and techniques • Summary • Tools and techniques discussed in this chapter • References

Chapter 10: Review, summary and what to do next • Introduction • The three pillars of inventory management • Four steps to inventory heaven • Five milestones • The business systems MRP and ERP • Impact of new technology on the future of inventory management • Toolbox review • Summary • References

Appendix A

Appendix B

Appendix C

Useful websites

Index


About the Authors:

Dr. Geoff Relph’s experience in inventory and business systems management includes operational, consulting and academic roles spanning 40 years. He gained his initial ‘hands on’ experience in MRP operations and inventory management over 20 years with IBM. Geoff has worked since 2002 as an inventory expert in operational, consulting and training roles for companies both large and small and has led a wide range of projects that have improved supply and demand performance. Geoff completed his Doctorate in Inventory Management in Business Systems in 2006. He is an associate lecturer at the Warwick Manufacturing Group, University of Warwick, and delivers modules for the MSc Programme both in the UK and internationally.

Catherine Milner is a chartered engineer and has nearly 20 years’ experience working in aerospace, petrochemicals and telecommunications. She has project managed many successful projects on electronic data exchange with customers, forecasting, MRP, supply chain management, and business process re-engineering. She is currently a visiting lecturer at the University of Warwick and Chairman of the Institute of Operations Management.


Target Audience:

This book is an invaluable reference guide for students and practitioners focusing on inventory management and operations management in manufacturing and retail, as well as operational staff involved in the implementation of the MRP and inventory management modules of ERP systems.

 

 
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