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Inventory management is an extremely important function to any business, since inadequacies in control can result in serious problems. If inventories are managed in an inefficient manner, it is likely that delays in production, dissatisfied customers, or curtailment of working capital will result.

In this paper we introduce a simulative model, designed and developed to optimally manage an integrated finished goods inventory system, and suitable for adoption in a wide range of make to stock manufacturing firms. The goal of the model is to manage optimally finished goods inventory levels, in order to minimize costs deriving from holding inventory and from adjustment to the master production schedule (MPS) to prevent stock‐outs. A trade off is sought between these costs components. The input variables of the model are: safety stock levels, assessed through coefficients k1, k2 and k3, and the stochastic distribution functions of products demand. The model performances are assessed considering the annual total cost for the inventory management. The model is then tested by a numerical application. The case considered refers to a major firm operating in the zootechnical feeds production industry.

Inventory management is generally recognised to be of sufficient importance to warrant the appointment of a person to carry specific responsibility for it; possibly along with other areas of the distribution function. Preferably, inventory should be seen as one component of distribution, interacting as it does with all the elements contained therein. This monograph has not been written for the analyst but rather for the person responsible for taking inventory decisions. The aim is to present a general description of the main problem areas and to describe procedures by which the problems can be resolved. Given a broad appreciation a useful dialogue may then be set up with the analyst and more effective use made of the large quantity of data which is invariably available in the distribution field.

The purposes of this study are to examine the standard operating procedure (SOP) on inventory management practices, identify any weaknesses in inventory management and examine its impact on the performance of the company. Inventory management is important because it ensures smooth production and prevents loss of sales because of stockout and/or customer dissatisfaction.

This study selects one manufacturing company as a case study and uses the mixed data collection method of document analysis and observation. The research analysis was conducted by using COSO Internal Control – Integrated Frame work 2013 as guidance.

It is revealed that a company practices risky inventory management in keeping stock, as it relies heavily on third-party warehousing services beyond the control of the company. This study also reveals that the SOPs are too general and lack specificity. However, poor inventory management has a modest influence on the financial performance of the company.

In completing this study, some limitations are experienced such as changes on the management structure of the company as well as the department itself. Frequent changes on several procedures also may influence this study to obtain accurate information. In addition, some highly confidential documents such as detailed information and minutes from management meeting were not permitted to be examined.

This study provides recommendations to improve weak internal controls particularly on SOPs, so that fraud and mismanagement opportunities can be reduced.

This study makes an original contribution, as it enhances the theoretical and practical understanding on inventory control and management systems, particularly for a manufacturing company in the emerging market environment. In addition, it examines various internal financial reports and directly observes the process in supply change management, which are generally difficult to be accessed by academic researchers.

Looks at how inventory can best be monitored and measured in the warehouse. Includes finding out what has to be monitored and measured; a closer look at stock counting; discussing how information is gathered; asking what makes a good warehouse management system and what the benefits are of using inventory control and warehouse management together and looking at working with limited systems.

Why is it important to use computers in physical distribution management (PDM)? The reason is simple. PDM covers almost all of the activities concerned with distributing a product. Some authorities claim that logically the functions of procurement‐and manufacturing should also be considered as part of the overall process of making goods available to customers at the right place, at the right time, and in the right quantity. These activities and functions are inherently complex, involving many stock‐keeping items (SKIs) different in size, colour and other product characteristics. In addition to multiple items, there are multiple options for producing and distributing these items. Think of the many combinations of plant locations, distribution centre locations, choices of transportation modes, inventory levels, and channels of distribution that the physical distribution manager must consider. Imagine having to compare the many possible alternatives by hand calculations, and you can get some feel for the necessity of using modern computers for planning, operating, and controlling physical distribution.

Effective inventory management is crucial for SMEs due to limited resources and higher risks like cash flow, storage space, and stockouts. Hence, the aim is to explore how technology and know-how can be integrated with inventory practices and impact operational performance.

The basis of the analysis was collecting papers from a wide range of databases, which included Scopus, Web of Science, and Google Scholar. In the first phase of the process, a search string with as many as nine related keywords was used to obtain 175 papers. It further filtered them based on their titles and abstracts to retain 95 papers that were included for thorough analysis.

The study introduced innovative methods of measuring inventory practices by exploring the impact of know-how. It is the first of its kind to identify and demonstrate how technical, technological, and behavioral know-how can influence inventory management practices and ultimately impact the performance of emerging SMEs. This study stands out for its comprehensive approach, which covers traditional and modern inventory management technologies in a single study.

The study provides valuable insights into the interplay between technical, technological, and behavioral know-how in inventory management practices and their effects on the performance of emerging SMEs in Industry 5.0 in the light of RBV theory.

The RBV theory and the Industry 5.0 paradigm are used in this study to explore how developing SMEs' inventory management practices influence their performance. This study investigates the effects of traditional and modern inventory management systems on business performance. Incorporating RBV theory with the Industry 5.0 framework investigates firm-specific resources and technological advances in the current industrial revolution. This unique technique advances the literature on inventory management and has industry implications.

This study examines whether the behavioral attributes, such as overconfidence, of chief executive officers (CEO) and chief operating officers (COO) affect firm's inventory leanness. If they do, how are they interacting with each other? Moreover, incorporating market competition into the analysis, this study explores how the competition moderates the relationship between managerial overconfidence and inventory leanness.

Using a large panel data of US manufacturing firms between 1998 and 2015, this study measures top managers' overconfident characteristics using stock option information. Then, a panel regression analysis is adopted to test the effects of managerial overconfidence on inventory leanness. Moreover, a moderation model is applied to investigate the interaction effects of market competition.

Firms with overconfident COOs (CEOs), other circumstances being equal, increase (decrease) the inventory leanness as the market becomes more competitive.

The study suggests that firms should understand top managers' behavioral characteristics to manage inventory efficiently. Collectively, CEOs (COOs) tend to increase (decrease) inventory levels due to their overconfidence as the market gets competitive. Firms should establish a systematic process to be reviewed by diverse stakeholders to deal with managerial overconfidence.

This study is an exploratory study that examines whether and how top management's behavioral attribute relates to a firm's operations performance. It underlines that CEO and COO's overconfident characteristics determine the inventory leanness when market competition is considered. Numerous studies on firm-level strategies emphasized the top managers' overconfidence as a key factor. However, behavioral characteristics at the top management level have rarely been studied in operations management fields. Based on the results, scholars could compare and understand the effects of CEO and COO overconfidence to provide insights into inventory management.

Inventory is a crucial part of a systematic supply chain of a business. Small firms mostly neglect inventory management (IM) by accumulating excessive inventory for a time. The study aims to examine the IM practices of small and medium enterprises (SMEs) in Bangladesh.

The study applied a qualitative case study design. Data were collected from ten SME owners in Bangladesh. The study employed a purposive sampling technique to collect data. This study used semi-structured interviews to generate data. The NVivo software was used to analyze the data.

The findings show that most SME business owners collect raw materials from the local market. Along with the local sources, they collect raw materials from international markets. Some SME entrepreneurs collect raw materials throughout the country as they dealt with recycled products. Frequently, they used digital technologies and online media to manage raw materials. SME owners could not buy many raw materials due to financial crisis, wastage, and damage, leading to a ratio of 10–15% losses.

This research contributes greatly to the government, SME Foundation, and trade associations concerning the SME IM system. The study recommends the government should reduce the tax rate on importing SME raw materials and inventories and exporting SME products.

This is the first study that focuses on the IM systems of SMEs in Bangladesh.

Addresses the perennial issues of effective supply‐chain management ‐ balancing stock inventories, service delivery mechanisms and retaining requisite profit margins while ensuring customer loyalty ‐ against the background of increasing business competition in the 1990s. Considers the potential contributions of partnerships, inventory management, sales‐based ordering and promotion planning to the logistical quest for equilibrium at a profit.