Join Steven Brown for an in-depth discussion in this video Controlling inventory, part of Fundamentals of Logistics.
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- I believe that inventory management…is the most important fundamental of logistics.…If you do everything else perfectly…but do not properly control your inventory,…I believe long-term success will be very difficult…if not impossible to attain.…Many companies serve as examples of this.…If you effectively and efficiently manage your inventory,…I believe your logistics system will be very forgiving…of inefficiencies and mistakes in other areas.…The importance of controlling your inventory…simply cannot be overstated.…
But inventory management certainly is not so simple.…To begin with, all inventory is not the same.…Your inventory is spread out all through…your logistics network.…Depending upon where the inventory is,…you might want to manage it in a slightly different manner.…Take materials coming into my factory, for example.…Very expensive components,…or bulky, heavy components…might be brought into the factory on a just-in-time basis…as the component is needed.…Storing this type of material can be very expensive.…
These lessons will help you understand the importance of logistics and help your company prepare for efficient delivery, distribution, and inventory. Plus, get insights on the latest logistics trends.
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- Understanding order fulfillment
- Defining logistics
- Comparing inbound, outbound, and reverse logistics
- Key decisions: delivery, distribution, and inventory
- Coordinating the supply chain
- Trends in logistics management