Integrated Inventory Management

Integrated Inventory Management

Integrated Inventory Management

Integrated Inventory Management

Synopsis

Integrated inventory management is a compelling approach that is driving many of the organizational changes in manufacturing today. This comprehensive manual covers the practical issues that must be dealt with when managing inventory. Author Paul Bernard, a systems manager for over 20 years and an active member of APICS, establishes the need for an inventory strategy that is integral to the business. Writing for practitioners, he provides a method for streamlining and connecting all aspects of inventory management, explaining how to implement projects, programs, and initiatives more effectively. Where other books on the subject address every aspect of inventory management as a stand-alone topic, Bernard describes each component in relation to all other aspects of the process, making inventory management more understandable from a practical perspective. Using his integral strategy concept, Bernard covers the translation of theory to practice throughout the book, with a heavy emphasis on tables, figures, and the unique inclusion of computer screens for illustration. Integrated Inventory Management is a thorough reference that offers even the most experienced professional a wealth of new information on the topic. Applicable to APICS' CIRM and CPIM certification questions. Provides actual company examples to illustrate the integral strategy.

Excerpt

Suppose your company has reached the point where senior management recognizes that “business as usual” cannot ensure a competitive advantage or is not meeting customer expectations. Suppose further that they ask you to lead or join a team to develop and implement a new (to the company) strategy to achieve and sustain a competitive advantage. How quickly can you become an individual contributor to your team's development of a business case for changing the status quo, convincing the organization of the advantages of following a strategy which encompasses aspects of operational, organizational, and technological change and creating an environment where significant improvement is the norm?

The fact is, this is the type of challenge faced every day by inventory practitioners. The more competitive one company becomes, the more competitive it becomes for everyone else. One approach for developing an inventory strategy in a highly competitive environment is to structure the strategy based on integration principles. Integration strengthens the natural synergism between the infrastructural and operational areas of the business.

This book is a continuation of other production and inventory management references. As such, it is not so much about the subject of inventory management as it is about the practice of managing inventory in a variety of business environments. Its uniqueness is in the application of an integration methodology as a unifying theme and in its scope from strategy development through implementation of projects and programs. The basic structure is shown in Figure P. 1.

Key Integration Concepts Developed and Used Throughout This Book

Strategies are the means by which a company focuses and aligns their and their suppliers' resources and capabilities to create a competitive advantage and provide value to their customers. Following a defined strategy demonstrates commitment within the organization and establishes clear roles, responsibilities, and performance measures.

There are two basic types of strategies referred to in this book. Traditional strategies focus inwardly on one or more functional areas within the business.

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