Managing Inventory Essay

2569 Words Dec 2nd, 2012 11 Pages
Qatar University
College Of Business & Economic
Spring 2012

Submitted By :
Sara Jumah Al-Marzouqi 200900354

Submitted To :
Dr Mohammed Nishat Faisal

Course :
Production & Operations Management Group L51

Subject :
Inventory Management Project

Subject List

Part I
1) Introduction 3
2) The Meaning Of Inventory Management 3
3) The Importance Of Inventory Management 3 , 4 , 5
4) How Does Wal-Mart Manage Their Inventory 5 , 6 , 7
5) Conclusion 7 , 8

Part II
1) Networked Inventory Management Information Systems ( Emerald ) 9 , 10
2) Zero Inventory And Firm Performance (Taylor & Francis) 10 , 11
3) Managing Inventories In The Machine Building Industry (science direct )
…show more content…
The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting. Importance of inventory management: There are many different reasons why inventory management is so important in today's world. One of them is being able to know exactly how many of each product you have in stock, so you know exactly how much needs to be ordered. Without proper inventory management, you may order too many of one thing, and not enough of something else. What does this translate too? Running out and having to order more, and having an over stock of other products, costing you not only money, but available storage space. Appropriate inventory management also allows you to track the products you sell. You can see at a glance what items sell the most, what time of the year that more are sold, and have a chance to see what patterns develop so you can plan your buying accordingly. For an example, if you are a clothing merchandise store, and you find that you sell more coats and hats during the

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