ABSTRACT
In this chapter we shall examine a range of areas linked to the topic of inventory management. Managing inventory successfully is a necessary ingredient to world-class practice in operations including lean processes (Holweg, 2007). From the outset it should be noted that:
Managing inventory can be a huge task that includes areas of logistics, purchasing, and supply, involving the sourcing, developing, and nurturing of buyer-supplier relationships. Inventory management is a major strategic task for organizations.
