The continuous renewal in inventory management

Abstract

An important decision faced by manufacturing companies, particularly small and medium-sized enterprises (SMEs), whether a new company or an already established company, is the selection of inventory management techniques or systems, in order to maintain a level optimal quality of its products and measure the effectiveness of production departments in the allocation and transformation of raw materials into semi-finished or finished products. Therefore, it plans and reviews the different organizational, economic and financial alternatives, which allow it to select the feasible control methods according to the inventory kept in stock, achieve long-term cost minimization and achieve the highest productivity.