Inventory Control Specialist

Forecasting is a crucial method for managing inventory control. It is an essential skill for all operations and manufacturing professionals, as well as those professionals in distribution and logistics. This practical reference offers an up-to-date and thoroughly accessible overview of this key concept, covering both theory and practice from current demand forecasting methods. The author, a seasoned expert in the field, provides complete details on the links between forecasts produced by analyzing demand data and the various methods by which this information— in conjunction with cost material on stocked items— is used to establish workable parameters for the most commonly used inventory control systems. In Demand Forecasting and Inventory Control, Colin D. Lewis takes an in-depth look at the family of short-term forecasting models that are based on the exponentially weighted average and its many variants. With sample data that includes calculations necessary for hands, on applications, Lewis takes you step by step through a variety of essential processes, among them how to forecast in stationary demand situations, plus how to relate forecast and demand data to specific time periods. You’ ll also learn how to assess the validity and accuracy of selected fore casting models. In addition, Lewis examines a group of medium-term forecasting models based on a time-series, curve-fitting approach. The group encompasses, among other key topics, regression analysis, straight-line trend forecasts, and seasonality. Additional sections on inventory control investigate the re-order level policy and re-order cycle policy, illustrating how they can be operated at minimum cost while offeringa high level of customer service.

This book is the guide to how to maximize revenues, control expenses, and optimize financial objectives. Its practical “ hands-on” approach facilitates immediate application to all types of foodservice operations. Used for illustrative purposes, the included forms can be reproduced and implemented. Chapter topics cover the control process; food cost/food cost percentage; inventory management; requisitions and transfers; purchasing functions; receiving merchandise and processing invoices; quality standards, specifications, yield analysis, and plate cost; food production control; menu sales analysis; beverage cost/beverage cost percentage; bar and inventory control; beverage production control and service; controlling payroll costs and the cost of employee turnover; measuring staff performance and productivity; control practices applied to human resources issues, gratuities, wage laws, and working conditions; monitoring the sales process; pricing and sales forecasts; and self-inspections, customer feedback and nonfood inventories. For management personnel in the foodservice industry.

Inventory control system - An inventory control system is an integrated package of software and hardware used in warehouse operations, and elsewhere, to monitor the quantity, location and status of inventory as well as the related shipping, receiving, picking and putaway processes.

Inventory control problem - The inventory control problem is a type of problem encountered within the field of optimal control. It exists in several variations, and is typically formulated as follows:

Fast, Cheap and Out of Control - Fast, Cheap and Out of Control is a 1997 "non-fiction" film by documentary filmmaker Errol Morris. It profiles four subjects with extraordinary careers: a lion trainer, a topiary sculptor, a mole rat specialist, and a robot scientist.

inventorycontrolspecialist

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