Includes bibliographical references and index.

ch. 1 Inventory as Both a Tangible and an Intangible Object -- Inventory -- Who Needs It? -- Inventory Costs -- The Purpose of Inventory -- Types of Stock -- Tracking the Paper Life -- Electronic Data Interchange -- Recap -- Review Questions -- ch. 2 Inventory as Money -- Accounting for Inventories -- How Inventory Is Valued -- Inventory on the Balance Sheet -- Inventory on the Income Statement -- Ratio Analyses and What They Mean -- Current Ratio -- Quick Ratio or Acid Test -- Inventory Turnover Ratio -- Profit Margins -- Calculating Gross Profit -- Merchandising Metrics -- Pricing Generally -- Selling Price -- Obsolete Stock -- Why You Have Been Told Not to Dispose of Obsolete Stock -- Problems with Convincing Decision Makers That "It's Gotta Go" -- Arguments in Favor of Disposing of Dead Stock -- Methods of Disposal -- Carrying Cost and Purchasing -- Recap -- Review Questions -- ch. 3 Physical Location and Control of Inventory --

Beyond core tasks such as locating items, you've got to project future business needs, hold down costs, and fix supply chain problems. You need strategic and financial knowledge, and the skills to manage many moving parts. Essentials of Inventory Management is the answer book that practitioners and students rely-on. It breaks down the job into easy concepts and concrete steps. New chapters in the third edition explain how to purchase inventory pick the best location for a distribution centre, and establish safety precautions for handling inventory. Maintaining physical spaces and databases are only part of your responsibilities. From forecasting to troubleshooting to the fundamentals of finance, this book gives you the tools to optimise efficiency and drive profits.