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Vol 29 - No 05 - July/August 2003 Professional Inventory Management It can be difficult to determine when stock is at the optimum level as this is influenced by numerous factors including batching policies, the work centre capability, safety policies and production methods. The result is that despite the use of sophisticated MRP / ERP systems, manufacturers typically keep overall inventory levels too high without really achieving high parts availability. In many cases the response in production to poor availability is to over produce with intent to safeguard against future shortages. This paper is the second in a series of three that looks at the alternative options available to optimise inventory held at an aggregate and part level by considering the steps necessary to move towards inventory optimisation. The intent of these papers is to provide a guide to enable managers within manufacturing industries to advance their organisation to the next level. Page number: 17 Word count: 4340 Related Topics: Enterprise resource planning Inventory management Material requirements planning
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