Description
Inventory and Stock Control in the ABMA Professional Diploma in Procurement and Supply Chain Level 4 (ABMAPSCL4) equips learners with the techniques needed to hold the right stock at the right cost. The book opens with the foundations of inventory management: the roles of buffer, seasonal and pipeline stock and the types of inventory held across a supply chain. It then develops the economics of storage, weighing carrying, ordering and stockout costs, and covers demand forecasting and capacity planning using qualitative and quantitative methods. Further chapters present traditional control models such as the two-bin system, fixed-period review and economic order quantity, stock categorisation through ABC, VED, FSN and XYZ analysis, and operational procedures for receipts, discrepancies and stocktaking. The closing chapters address modern warehouse management systems with barcode and RFID technologies, and just-in-time inventory with risk mitigation against obsolescence, damage, theft and shrinkage. Its eight chapters follow the unit’s lessons step by step, each with practical exercises, a global scope discussion and current advances in technology, preparing the learner for competent inventory control practice.
