What is supply chain inventory management ?

Definition

The supply chain is a series of activities designed to deliver the raw materials for production and the product itself to its final destination. The goal of the supply chain is to obtain what it needs from suppliers, process them, and deliver them to customers in an efficient manner. Inventory management is a part of supply chain management that deals with controlling the flow of goods into, out of, and within warehouses and distribution centers. The inventory management process involves analyzing current stock levels at each warehouse as well as forecasting future demand for goods in order to reduce any amounts that are surplus or unnecessary. In addition, there are other aspects such as key performance indicators (KPIs) that measure the effectiveness of inventory management.