Emerging Inventory Planning

Abstract

In the last decade, the industry has been driven by the fifth industrial revolution, but it has also had to face unforeseen challenges in the economic, political, and international conflict arenas. These factors have generated difficulties that impact the efficient operation of global supply chains. In response to this uncertainty, many organizations have chosen to stockpile large quantities of inventory, increasing working capital while reducing their Return on Assets (ROA). This crisis has brought about swift changes in markets, with shifts in purchasing behavior and increasing competition in terms of prices and offers. Organizations need to use knowledge and technology more intelligently in this dynamic context to design strategies that enhance inventory planning and management. This chapter will explore the significance of logistical conditions, planning, and several strategies to achieve a responsive inventory in an ever-evolving market, where inefficiency and poor service are no longer tolerated.