Inventory Management for Manufacturing

The key to success in most business areas lies in carefully balancing supply with demand. You isolate your market, determine what it needs, and provide it accordingly. But this can only work if you’re able to meticulously manage inventory levels at all times. Inventory management for manufacturing plays a crucial role in ensuring that raw materials, components, and finished products are available exactly when required. It is about fulfilling demand without stock shortages or oversupply becoming problematic. Just as efficient stock control represents a critical contributor to successful business operations, poor inventory control can be highly detrimental to both productivity and profitability.

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This insightful tutorial has been designed for business owners, senior managers, and anyone involved in supply chain or inventory management. Explore the various types of inventory management, along with the principles of economic order quantity and how to effectively buffer supply and demand. Learn about uncertain demand and safety stock, the consequences of poor stock control, and how to determine ideal stock levels for your business. By applying the right inventory strategies, organisations can reduce waste, minimise costs, and maintain a smoother, more efficient flow of goods across the supply chain.

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