After studying this chapter, you should be able to:

15.1: Identify the various types of inventory.

15.2: Describe the types of inventory costs.

15.3: Examine the role of inventory in an organization’s supply chain.

15.4: Use inventory management measures to determine the efficiency of an inventory system.

15.5: Illustrate key features in inventory management systems.

15.6: Identify the causes of the bullwhip effect and other causes of uncertainty in supply chain inventories.

15.7: Explain how companies can include sustainability and ethical practices in inventory management.

15.8: Demonstrate the requirements for managing inventory in global supply chains.

15.9: Describe how service firms apply inventory management methods to their operations.