ABSTRACT
The above quote describes the authors’ view of inventory control. Inventory control is one of the most important topics in most operations. The basic industrial engineering curriculum provides many concepts on how to effectively manage inventory such that businesses maximize prots. Inventory decisions such as how much and what type as well as what type of material handling equipment is needed has driven operational costs. The important trade-offs of how much inventory is needed to meet customer service and minimize costs associated with inventory must be addressed continuously in many organizations. Managers of inventory, planners, and engineers seek to provide solutions that allow an organization to maintain inventory levels that both minimize the costs of holding inventory and the cost of losing a customer because of lack of inventory.
