Inventory Control and Management

Inventory Control and Management C. D. J. Waters University of Calgary, Canada Holding stock is expensive—problems of inventory control almost universal. Based on sound theoretical principles this book describes the methods of inventory control which have developed over many years and proved most useful in practice. Covering both the traditional independent demand systems, quantitative models and forecast demand, and the more recent dependent demand systems, MRP and JIT, Inventory Control and Management presents a clear and practical guide to the subject. Although some quantitative ideas are developed in the text the author has kept mathematics to a minimum, allowing the reader to develop a thorough understanding of the principles involved. He uses practical examples to emphasise the value of stock control, as well as describing the context in which such decisions are made. Assuming no prior knowledge of the subject area, this book will provide students of management, operational research and production—as well as practitioners—with an indispensable guide to inventory control.