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Too much inventory? How do you know?

P J Delaney1, R M Grégoire

  • 1Progressive Technologies of America, Skokie, IL.

Hospital Materiel Management Quarterly
|July 7, 1994
PubMed
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Companies need to align inventory levels with strategic business goals. Inventory investment decisions should be made by strategists, not by individuals unaware of the company's direction.

Area of Science:

  • Business Strategy
  • Operations Management
  • Supply Chain Management

Background:

  • Inventory investment decisions significantly impact a company's strategic direction.
  • Current inventory management practices may not align with overarching business objectives.

Purpose of the Study:

  • To emphasize the critical link between inventory levels and business goals.
  • To advocate for strategic alignment in inventory investment decisions.

Main Methods:

  • Conceptual analysis of inventory management and business strategy.
  • Review of decision-making processes in inventory investment.

Main Results:

  • A misalignment exists between inventory investment and strategic business goals in many companies.

Related Experiment Videos

  • Decisions are often made by non-strategists, leading to suboptimal outcomes.

    • Conclusions:

    • Integrating strategic planning with inventory management is crucial for business success.
    • Involving company strategists in inventory decisions ensures alignment with business goals.