Inventory Management in Manufacturing
The primary concern of inventory management in manufacturing is to maintain raw material and finished goods inventories at levels that are not too low as to result in lost sales or costly production delays or too high as to tie up capital and space.
The marketing success of your business depends upon your ability to provide your customer with the rightgoods at the right place at the right time. The right goods are those that your customer desires; the right place is in your inventory, and the right time is immediately. Failure to have the right goods in the right place at the right time can often lead to lost sales and profits and, even worse, to lost customers.