From the course: Constraint and Bottleneck Management
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Managing inventory and kanban
From the course: Constraint and Bottleneck Management
Managing inventory and kanban
- Inventory management is a core part of operations management, and it's not just about keeping the shelves stocked for customers and managing warehouses or deliveries. Inventory management plays a key role in the internal daily operations and contributes towards enabling maximum throughput without incurring excessive costs. There are several main types of inventory. Raw materials come into the operations. Once we start working on it, it becomes work in progress, WIP. And then finally finished goods inventory, all helped along with some spares and consumables. When it comes to constraints, bottleneck management, WIP is the most important and complex. It's the most critical to keeping the constraints running and the easiest to let fall wildly out of control. Noncoupled processes are the norm in most operations, and there are certainly some major benefits since they can operate independently of each other, if only they all have enough inventory to work on all the time. This is true, but…
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