ABSTRACT
As explained in Chapter 1, inventory has a buffer function, in order to achieve synchronization between use, on the one hand, and design and manufacturing, on the other. This makes inventory management another important instrument for planning & control. Entry and exit transactions are the basis for usage statistics. Together with ABC analyses, XYZ analyses, and other evaluative procedures, usage statistics build the foundations of methods of stochastic materials management — and demand forecasting in particular.
