Essentials of Inventory Management

by Max Muller

Inventory management is about more than counting what you’ve got. It’s about understanding business realities and making decisions that balance current demand with future needs. Author Max Muller teaches readers how to do this while keeping overhead and operating costs at a minimum by maximizing productivity in key areas--from physical stock issues to problem identification and resolution to technologies like RFID and other automated inventory mechanisms. Novice and veteran managers alike will gain ultra-practical tips and tricks on topics including forecasting and replenishment strategies, retail vs manufacturing inventories, materials requirements planning, formulas for calculating quantities and schedules, and supply chain risk management. Complete with detailed examples, handy tools, and a revised and expanded chapter analyzing “Why Inventory Systems Fail and How to Fix Them,” the second edition of Essentials of Inventory Management is perfect for both instructional and on-the-job use. Inventory management is complex, but it can be simplified. With up-to-date insights to maximize productivity, identify and solve issues quickly, forecast and replenish, incorporate automation, and much more, this nontechnical yet thorough guide will teach you how to manage inventory as a physical reality--and maximize its monetary value.

Genres: Business, Nonfiction

257 pages, Hardcover

First published January 28, 2003

About the author

MAX MULLER has been an executive for a wide range of product distributors. 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 (978-0-8144-1076-9).

Reviews

[Bob Wallner · Rating 4 out of 5]

The first twelve years of my career were spent in inventory control various positions. So even though I pivoted over a 15 years ago to something else, I maintain an interest in inventory trends. This textbook is narrated very well. The narrator is clear and articulate and presents a textbook in a format that is easily listenable.
The author covers from soup to nuts on inventory control from classification, procurement and cycle counting all the way to risks of storing and handling. Unfortunately, there is not much new in this from when I was managing inventory. The traditional thoughts of maximizing purchase discounts are still very prevalent. EOQ and ERP are still the primary means of setting order points and managing inventory control. The author does include some discussion on cross-docking and JIT and mentions kanban, but these discussions do not account for much more than a footnote in the scheme of things.
I was not expecting much out of this audiobook, but I think it is a good book for someone coming into a purchasing, warehousing or logistics position. I would not; however, recommend it for someone going into a progressive company that is trying to integrate lean supply chains. Unfortunately I have not found a book that would support those types of organizations at this point.

[Radhika · Rating 5 out of 5]

Pocket book

A comprehensive book on Inventory management basics. It's for anyone who are direct ly or indirectly associated with inventory management to brush up on their basics as well good read for beginners.

[Juan Carlos · Rating 3 out of 5]

It starts slow for a professional who works in Supply Chain and it looks after deeper content regarding inventory. It picks up later. It's broad touching Supply Chain Management and Procurement as well.

[Logan Streondj · Rating 5 out of 5]

An excellent book on inventory management with a storied approach explaining problem scenarios and solutions to them. Covers where to locate stock, how to organize it, work in progress, barcodes, RFID tags, and many other things. Certainly am interested in getting into inventory tracking now.

[Zack Hodges · Rating 4 out of 5]

solid

[Thomas Petersen · Rating 4 out of 5]

Good primer on general essentials of Inventory Management. Some of the examples are a little bit outdated but it's a solid book.