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Essentials of Inventory Management Hardcover – Jul 14 2003

4.0 out of 5 stars 1 customer review

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Product Details

  • Hardcover: 352 pages
  • Publisher: AMACOM (July 14 2003)
  • Language: English
  • ISBN-10: 081440751X
  • ISBN-13: 978-0814407516
  • Product Dimensions: 24 x 15.5 x 2.5 cm
  • Shipping Weight: 522 g
  • Average Customer Review: 4.0 out of 5 stars 1 customer review
  • Amazon Bestsellers Rank: #1,289,258 in Books (See Top 100 in Books)
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Product Description

From the Inside Flap

The most thorough introduction available regarding inventory management--now thoroughly updated and expanded--Essentials of Inventory Management gives you the answers you need to every question you'll ever have about core inventory concepts, from a financial, physical, forecasting, and operational standpoint. Whether you're a seasoned inventory control professional, new to stockroom/ warehouse management, or a small business owner who needs to keep on top of everything, this essential guide provides you with timeless stock-keeping fundamentals for optimizing efficiency and driving profits.

Perfect for both instructional and on-the-job use, this nontechnical yet thorough guide helps you understand business realities and to make decisions that balance current demand with future needs while keeping overhead and operating costs to a minimum. Focusing on daily-use inventory concepts and enabling you to analyze and fix dysfunctions when they occur, the book provides the tools and practical guidance you need to:

- Forecast inventory levels and undertake stock replenishment so you have the right items, in the right quantities, at the right time, and in the right place.

- Apply simple formulas to compute breakeven points, profit margins, markups and markdowns, as well as selling price and margin percentages.

- Use financial ratios to improve the operation of your business.

- Manage inventory as both a physical and database object.

- Set up effective stock locator systems.

- Implement efficient item placement theories.

- Consider the differences between finished-goods (retail) inventories and raw materials or work-in-process (manufacturing) inventories.

- Decide when to dispose of dead stock.

- Choose the right cycle counting method for your organization and use it to head off long-range problems.

- Understand materials requirements planning (MRP) and just-in-time (JIT) inventory systems.

- Guard against supply chain risks.

From physical stock issues to problem identification and resolution to technologies like RFID and other automated inventory mechanisms, the second edition of Essentials of Inventory Management is a no-nonsense, how-to-get-it-done-right guide every inventory manager will turn to again and again.

MAX MULLER is an attorney who has been chief executive officer or chief operating officer for numerous companies distributing products ranging from food to ATMs to safety equipment. An authorized General Industry Outreach Trainer for the Occupational Safety and Health Administration (OSHA), U.S. Department of Labor, his seminars throughout the United States, Canada, and the United Kingdom have drawn more than 100,000 attendees. His books include The Manager's Guide to HR as well as the first edition of Essentials of Inventory Management.

--This text refers to an alternate Hardcover edition.

From the Back Cover

Inventory management involves a lot more than just counting what you've got. Now in a thoroughly updated and expanded second edition, Essentials of Inventory Management covers topics such as:

Forecasting and replenishment strategies - Differences between retail and manufacturing inventories - Materials requirements planning and just-in-time inventory systems - Simple formulas for calculating quantities and schedules - Management of inventory as a physical reality and a database object - Supply chain risk management.

Perfect for novice and veteran managers alike, this ultra-practical book provides you with the up-to-date and ready-to-use information you need to maximize productivity in key areas from physical control and layout to problem identification and resolution.

Complete with detailed examples, handy tools, and a revised and expanded chapter analyzing "Why Inventory Systems Fail and How to Fix Them," the book familiarizes you with hard-core, timeless stock-keeping fundamentals that will allow you to keep your operation running smoothly and efficiently. Addressing all items both in their tangible form ("shelf count") and intangible forms ("record count" and monetary worth), the book arms you with down-to-earth information on automated inventory identification systems, methods for analyzing and remedying dysfunctions, and the nature and scope of possible conflicts created by reducing "waste" within a supply chain.

Along with detailed explanations of multiple cycle counting methodologies and financial statement insights for the nonfinancial manager, the book provides and explains the basic formulas that will allow you to compute breakeven points, profit margins, markups and markdowns, as well as selling price and margin percentages. You'll learn how to employ basic problem-solving techniques toward issue resolution, control the physical location of inventory in a more efficient manner, select the cycle counting inventory method that is right for you, and appreciate the fundamental differences between finished goods inventories in the retail/distribution sectors and raw materials and work-in-process inventories found in the manufacturing environment.

Getting past the theory and into the daily, practical techniques and strategies that will enable you to do a better job managing your inventory, Essentials of Inventory Management remains the go-to guide for all inventory management professionals.

--This text refers to an alternate Hardcover edition.

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Top Customer Reviews

Format: Hardcover Verified Purchase
A very good book on inventory and its not expensive too. Its cost /benefit is an excellent one.
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Most Helpful Customer Reviews on (beta) 3.7 out of 5 stars 15 reviews
4.0 out of 5 stars Good overview of inventory management practices Aug. 13 2016
By Rip - Published on
Format: Hardcover Verified Purchase
Good overview of inventory management practices...could be updated, and there are some math errors in some of the examples.
18 of 20 people found the following review helpful
4.0 out of 5 stars Inventory Essentials April 10 2006
By A. Mock - Published on
Format: Hardcover Verified Purchase
This book lives up to its title. It is an easy to read introduction to inventory management. If you are new to the concept or are an empiric manager in the process of formalizing your education, this is a good start. Don't look for in depth information or case studies.

On the recommendations side, the author left the topic of safety and occupational health out of the book. It would be good to include this topic in the following edition.
9 of 11 people found the following review helpful
4.0 out of 5 stars Essentials of Inventory Management Oct. 15 2008
By Amazon Customer - Published on
Format: Hardcover Verified Purchase
I've worked in Inventory Management for 20 years. This book covers a lot of areas that someone new to this field will find useful. This book even gave me some new ideas to try in my consulting firm.
6 of 7 people found the following review helpful
2.0 out of 5 stars None Feb. 19 2012
By tina rakos - Published on
Format: Kindle Edition Verified Purchase
kindle version missing pages and diagrams very hard to read. language through book is difficult to follow with errors.
2 of 2 people found the following review helpful
5.0 out of 5 stars A practical and concise primer, recommended despite defect July 19 2012
By nign - Published on
Format: Kindle Edition Verified Purchase
As said in the February review, the Kindle version has about 10 pages of content missing. Because the problem occurs near the beginning of the book, it gives the impression that it bodes ill for how well formatted the book is, but after finishing the book, I can safely say that that's the only missing chunk, and despite the defect, I'd still recommend the book to anyone who's just starting out on inventory management or has taken over an operation that needs improvements in efficiency and accuracy.

The author is well versed in theories while highly experienced in practical application. The book provides succinct surveys of methods of inventory management and each's pros and cons, and also how pitfalls in areas of business management either directly or indirectly related to inventory management can lead to various persistent problems. It views inventory as an integral part of a business and aims to help the reader make the business better and stronger as a whole through improved inventory management.

As the title indicates, this book is only about the "essentials," so the needs of very large (global in scale) or very complex (like Amazon) operations are not covered, but the conceptual basics should be universally applicable.

Note: If you don't own a Kindle reader and intends to read the book on a computer, the diagrams would be too small for your eyes and impossible to read. But given that the diagrams are few and none too essential, it shouldn't amount to more than a nuisance.

I had written to Amazon's customer service and the respondent said they're taking the Kindle version off the shelf until the publisher fixes it. So please write in again to badger them if you're buying the book a few months later than I and still find the same problem in the book.