INVENTORY MANAGEMENT 101: TIME TO STEP UP TO THE PLATE.

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  • Author(s): Mccrea, Bridget
  • Source:
    Logistics Management. Oct2018, Vol. 57 Issue 10, p30-34. 4p.
  • Additional Information
    • Subject Terms:
      SHIPPING companies; INVENTORY control; STOCK-keeping unit; INTERNET of things; HOBKIRK, Ian
    • Abstract:
      The article discusses the challenges faced by shippers regarding inventory management in terms of stock outs, increased inventory costs and low stock keeping unit turnover rates and highlights the importance of inventory management software to bridge the gap. Topics discussed include need to implement FIFO system effectively in inventory management, use of Internet of Things and the views of Ian Hobkirk, president at Commonwealth Supply Chain Advisors, on the same.