Floyd D. Hedrick, Library of Congress, Washington, D.C. Editor: Jeannette Budding, Communications Manager National Association of Purchasing Management Inventory management Abstract Inventory management, or inventory control, is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory. There are several schools of thought that view inventory and its function differently. These will be addressed later, but first we present a foundation to facilitate the reader's understanding of inventory and its function Inventory management is inventory management in short .As an important inventory of liquid assets, its existence is bound to take up a lot of liquidity. In general, inventories of industrial enterprises accounted for about 30% of the total assets of commercial circulation enterprises is even higher, the management of utilization is directly related to the occupation of the level of corporate funds and asset efficiency. Therefore, a business to maintain high profitability, should be attached great importance to inventory management. Inventory management at different levels, the company's average occupancy level of funding is a big difference. Through the implementation of proper inventory management methods to reduce the level of the average amount of funds used to improve the inventory turnover rate and total assets, will ultimately improve the economic efficiency of enterprises. Keyword： Inventory； Management ChapterⅠ Inventory Definition Inventory is a quantity or store of goods that is held for some purpose or use (the term may also be used as a verb, meaning to take inventory or to count all goods held in inventory). Inventory m...
