The aim of stock control is to ensure stock levels remain accurate and there is sufficient stock available to meet its own needs and those of consumers. Key focus should be placed on this activity to ensure stocks are not too high, to minimise waste and to optimise the overall cost of the holding stock. Having too high or too low a stock can be harmful; too high a stock level represent money tied up and can impact on cash flow whereas too low stocks could result in not being able to satisfy order demand.
“Do you think there are some people I should meet?”
Those were the famous last words uttered by Dr. Marta Andrecka to CIPS Global Board of Trustee member, Craig Lardner, before departing for her holiday to Australia.
Sixty NSW CIPS Australasia members and friends attended the Supplier Diversity in Action event on Thursday, which focused on opportunities to support social enterprises procurement initiatives.
Understanding economic production quantity is important from the inventory management side of things because holding too much inventory is costly to carry and holding too little can...
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In today's business... modern methods of supply chain management have become important tools to gain competitive advantage over competitors. Vendor Managed Inventory...
If you produce only what you need when you need it, then there is no room for error (Russell and Taylor)