From the course: International Logistics
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Inventory control
From the course: International Logistics
Inventory control
- How much inventory a company keeps on hand is often a trade off between risk and cost. Too little inventory can result in stockouts and unhappy customers. Too much inventory will drive up your total costs. But when managing inventory within the international logistics network, it's more than just balancing supply and demand. There are some special considerations. First, the distances are farther. You'll have more inventory in the system than you would with a domestics logistics network. And it will take longer to move these goods to your customer. This requires much greater skills at scheduling, forecasting, and planning. With greater distances and longer delivery schedules, your second concern is unexpected delays en route. This can range from congested ports to weather problems to a simple truck breakdown on the way to the ship. Planning for such disruptions requires safety stock to be stored in warehouses and…
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