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Inventory management. What is inventory management, and what is the basis for inventory management excellence? Inventory management. Everybody does it! Well, almost everybody! Manufacturing companies do it. Retailers do it. Webshops do it. Restaurants do it. Fast moving customer goods companies do it. And freight/logistics companies do it. What is the definition of inventory management? Having the right inventory, at the right time, in the right place. There is an element of recordkeeping in here: is what our system says is there, really physically there? The other element is the flow of goods: from suppliers to manufacturers to warehouses to points of sale to customers. Everyone in the company has a stake in inventory management. If you ask the sourcing department, they will probably propose to buy in bulk from suppliers to get maximum volume discounts. If you ask manufacturing, they will want to make big production runs of the same product, before changing over to produce another pr
