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What (who) is inventory management - definition
Inventory management; Stock management
Field inventory management
Field inventory management commonly known as inventory management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable or prescribed level.
Partnerized inventory management
Partner-optimized inventory management, also known as partnerized inventory management or sometimes just the abbreviation PIM is an inventory management technique or model often used in deterministic inventory systems in which a significant portion of the total inventory regularly becomes stochastic in nature, due to slowing and/or low demand such as is typical in heavy machinery and construction equipment where the products themselves are extremely durable and have long lives in the field. Inventory in these cases needs to be maintained for an extended time to allow for repairs and product support perhaps as much as two or more decades after a manufacturer has ceased production.
Inventory management software
SOFTWARE FOR MANAGING INVENTORY
Merchandise management system; Inventory software; Inventory management system; Inventory management systems
Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents.
Wikipedia
Field inventory management
Field inventory management commonly known as inventory management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable or prescribed level. Inventory management is important for every other business enterprise.
Examples of use of inventory management
1. Proper inventory management could have cut down their inventory investment by 10–15 percent, he said.
2. The Chinese cannot offer "just–in–time" inventory management for US marketers.
3. Cost savings would come from operating fewer plants, which would also streamline shipping and inventory management.
4. He elaborated on the supply chain courses such as CPIM (Certified in Production and Inventory Management), CSCP (Certified in Supply Chain Professional) and Customer Service Excellence.
5. Scope‘s inventory management (to keep ' months on hand) is a risk in the environment of rising commodity prices – mainly because the rise could suddenly reverse.