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Inventory Reduction: Preventive and Corrective Strategies

Inventory Reduction: Preventive and Corrective Strategies Down with inventory! Do away with inventory! So cry the advocates of the Just‐in‐Time doctrine—a doctrine that holds that inventory by nature is idle and wasteful and by reason is an encumbrance on the operations and finances of an organization. Their denouncements of both intentional and negligent stockpiling inspire reform and herald the redesign of operating systems along more utilitarian lines. But where should an organization begin and how far should it go to pursue the fundamentals of an inventory curtailment policy? If the quest starts with immediate reduction of stocks, must it deliberately end with complete systems conversion? The answer will depend on current circumstances and operating philosophies for the future, if there were no temporal, operational, or financial constraints on organizations, they would simply produce or replenish inventory as dictated by customer demand. Their goal would be to buy, manufacture, and distribute directly to the actual demands of the marketplace. It would be rational for organizations to operate with a demand‐driven pull system. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The International Journal of Logistics Management Emerald Publishing

Inventory Reduction: Preventive and Corrective Strategies

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Publisher
Emerald Publishing
Copyright
Copyright © 1990 MCB UP Ltd. All rights reserved.
ISSN
0957-4093
DOI
10.1108/09574099010804563
Publisher site
See Article on Publisher Site

Abstract

Down with inventory! Do away with inventory! So cry the advocates of the Just‐in‐Time doctrine—a doctrine that holds that inventory by nature is idle and wasteful and by reason is an encumbrance on the operations and finances of an organization. Their denouncements of both intentional and negligent stockpiling inspire reform and herald the redesign of operating systems along more utilitarian lines. But where should an organization begin and how far should it go to pursue the fundamentals of an inventory curtailment policy? If the quest starts with immediate reduction of stocks, must it deliberately end with complete systems conversion? The answer will depend on current circumstances and operating philosophies for the future, if there were no temporal, operational, or financial constraints on organizations, they would simply produce or replenish inventory as dictated by customer demand. Their goal would be to buy, manufacture, and distribute directly to the actual demands of the marketplace. It would be rational for organizations to operate with a demand‐driven pull system.

Journal

The International Journal of Logistics ManagementEmerald Publishing

Published: Jul 1, 1990

Keywords: Inventory control; Just in time; Stock control; Demand

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