Inventory Management

<p>Classical inventory management focuses on cost minimization as a performance measure where many cost parameters are difficult to estimate and inventory system costs are hidden. Constantly changing in response to international competition and new technology inventory management requires a new family of performance measures that represent situations more realistically. Establishing the foundation for new areas of research <strong>Inventory Management: Non-Classical Views</strong> focuses on the need to design inventory systems that serve as a means of flexibility to develop performance measures other than cost to control inventory and to view inventory as a contributor to customer value creation.</p>