Entrepreneurship and Small Business Management

Section 2: Inventory Management

Section 15.2 Summary
The purpose of inventory management is to find and maintain inventory levels that are neither too small nor too large. To determine the proper amount of inventory, you must calculate how many months' supply you should have in stock and how much that stock will cost you. There are several systems to keep track of your inventory, including visual, perpetual, partial, and just-in-time (JIT). Warehousing involves the operations that are associated with inventoried goods, including receiving and shipping docs, bulk storage areas, staging areas, picking rows, assembly areas, packing areas, and management offices and lockers. Reordering procedures are necessary to maintain inventory at a proper level.

Section 15.2 Reading Organizer
Fill out the reading organizer as you read the section.
Reading Organizer (29.0K)