Inventory Management and Purchasing

This book is a practical guide to inventory management for wholesale distributors and stores that supply "hard goods". It deals with merchandise classification and selection, forecasting, safety stocks, replenishment purchasing, promotions, forward buying, stock adjustments, and supply chain topics. It includes many formulas and over 50 tables and charts that cover all areas of inventory management. Industry data and examples from the author's auto parts distribution company and other automotive aftermarket firms illustrate each topic. Many of the formulas are from IBM, JDA, and other inventory management software packages, and are reprinted with their permission. All of these techniques were used to manage inventories in the author's company for more than 20 years. The automotive aftermarket deals with hundreds of thousands of different items and a very high service level requirement, so these techniques should cover a wide range of hard goods distribution. The book also has many anecdotes and case histories to illustrate the key points. It offers a valuable blend of strong, proven mathematical techniques and real life examples and experiences.