Books published by publisher Biju Thomas

Keeping it simple and profitableThe purpose of this book can be summarized in three actionable tasks:1. Understand your existing inventory situation and define improvement objectives2. Simplify planning, purchasing, and stocking of spare parts, consumables, raw and bulk materials, MRO and engineering parts3. Realize savings by executing the strategy of "Classify & Cash-In."To achieve these goals, the following three questions shall be answered:1. How can your inventory be analyzed? 2. How can your inventory be classified into relevant groups?3. How can you develop rules for the groups and implement them?Introducing: SWOT Analysis of inventoryPlus: ABC XYZ analysis explainedUseful concepts for supply chain, purchasing, procurement, planning, warehousing, logistics and inventory control professionals and managers are explained in a practical manner.Inventory has become a significant cost driver due to large investments made by companies. Intermittent and irregular nature of many demands complicates the balancing of stocks and their holding costs. Many expensive parts, although low in demand, are critical to operations. By an appropriate classification system, various categories are identified. Specific recommendations and procedures are suggested for each of the classified group.