Implementation

Sven Axsäter ()
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Sven Axsäter: Lund University

Chapter 11 in Inventory Control, 2015, pp 223-233 from Springer

Abstract: Abstract In Chaps. 2–10 we have described different methods for forecasting and inventory control. An inventory control system is usually based on a suitable selection of these methods. However, efficient algorithms cannot guarantee successful control. It is also necessary to create a good environment for practical application of the methods. This means, for example, correct inventory records and sound objectives for the control. Section 11.1 deals with various prerequisites for implementation of inventory control. In order to succeed, it is also necessary to understand how different control parameters like holding costs and service levels can be used for adjusting the control system. The implementation process, as well as adjustments of the control system, should be planned carefully and it is very important to monitor the results closely. We discuss issues concerning implementation and adjustments in Sect. 11.2.

Keywords: Inventory System; Service Level; Inventory Model; Inventory Control; Stock Level (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-3-319-15729-0_11

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