Types of Inventory Management

The key to success in most business areas lies in carefully balancing supply with demand. You isolate your market, determine what is needs and provide it accordingly. But this can only work if you’re able to meticulously manage inventory levels at all times. Inventory management is geared toward ensuring there is always enough stock on hand to cater to the immediate needs of the business. It is about fulfilling demand for whatever it is you offer, without stock shortages or oversupply becoming problematic. Just as efficient stock control represents a critical contributor to successful business operations, poor inventory control can be highly detrimental.

This insightful tutorial has been designed for business owners, senior managers and anyone involved in supply chain or inventory management. Explore the various types of inventory management, along with the principles of economic order quantity and how to effectively buffer supply and demand. Learn about uncertain demand and safety stock, the consequences of poor stock control and how to determine ideal stock levels for your business.