<p class="comp"><em>Inventory management is a systematic approach to sourcing, storing, and selling inventory both raw materials (components) finished goods (products). In business terms, means the right stock, at levels, in place, time, cost as well price. Inventory </em><em>refers process of ordering, storing using company's inventory. This includes materials, componen...

The success of a product in today’s global marketplace depends on capabilities of firms in the product’s supply chain. Among these capabilities, effective inventory management is a capability necessary to lead in the global marketplace. The chapter provides a discussion of four fundamentals of effective inventory management. First, it requires managers to know how best to use available informat...