June 05, 2010

Inventory management

Inventory management, is a manufacturing or service production, the whole process of operation of various articles, products, and other resources to manage and control its reserves to maintain a reasonable level in the economy.

The significance of inventory management: The main function are: Ensure the production, operation under the premise of demand and inventory volume was maintained at a reasonable level; Control inventory dynamic, timely, appropriate proposed order, to avoid over storage or out of stock; Reduce inventory space requirements and lower total cost of inventory, and control the amount of funds used inventory and speed up cash flow. The reasonable control of inventory resulting from excessive inventory problems: increase storage space and inventory storage costs, thereby increasing product costs; take up a lot of liquidity, resulting in stagnant funding, only increase the burden of loan and interest, will affect the time value of money and opportunities for income; finished products and raw materials caused by physical loss and intangible losses; caused a large number of idle corporate resources, affect the rational allocation and optimization; mask production, the whole process of operating the various contradictions and problems not conducive to enterprises to improve management level.

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