||Fundamentals of Inventory Management and Control, Third Edition
||Max Muller, Gary Langenwalter
||American Management Association
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About This Course
As one course among many offered in the American Management Association's
curriculum, Fundamentals of Inventory Management and Control, Third Edition,
has been written to introduce the new stockroom/warehouse manager, the
nonfinancial inventory control individual, or the small business owner to the
fundamental nature of inventory from a financial, physical, forecasting, and
operational standpoint. The ultimate goal of this course is to present
immediately usable information in the areas of forecasting, physical control and
layout, and problem recognition and resolution. These materials should enable
- Understand that modern practice discourages holding large quantities of
inventory and encourages only having amounts on-hand required for current
- Grasp the significance of controlling actual, on-hand inventory as both a
physical object (shelf count) and as an intangible object (record count and
- Understand the fundamental differences between finished goods inventories
in the retail/distribution sectors and raw materials and work-in-process
inventories found in the manufacturing environment.
- Apply basic formulas to calculate inventory quantities.
- Recognize and analyze dysfunctions within your own operation.
- Employ basic problem-solving techniques toward issue resolution.
- Control the physical location of inventory in a more efficient manner.
Max Muller has served as chief executive or operations officer for companies
distributing products as diverse as food to automated teller machines to safety
equipment. In the world of education, Mr. Muller has developed or revised more
than nineteen seminars in the areas of warehousing, inventory control,
facilities management, project management, employment law, and occupational
safety and health. These courses have been presented to more than 100,000 people
throughout the United States, England, Canada, and Scotland. Mr. Muller has
published articles in several business magazines. He is an attorney and an
authorized General Industry Outreach Trainer of the Occupational Safety and
Health Administration, U.S. Department of Labor.
Gary Langenwalter, CFPIM, CIRM, has more than 25 years' experience assisting
manufacturers to integrate people, processes, and technologies to create
competitive advantage. He is founder and president of Manufacturing Consulting
Partners and combines a systems approach with sensitivity toward the human
He has assisted clients across the entire manufacturing spectrum, from
agricultural chemicals, bio-pharmaceuticals, board games, casters, and
centrifuges, to tie-down straps, tooling for plastic injection molding,
ultrasonic test equipment, window treatments, and wood furniture. He has led
classes nationally on Lean, ERP, and leadership/management and has been a member
of the steering committees of both Lean and Process industry groups of APICS.
Mr. Langenwalter has written Enterprise Resources Planning and Beyond:
Integrating Your Entire Organization, and was the lead author of the
Repetitive Scheduling Training Aid. He co-authored the Handbook of
Material and Capacity Requirements Planning. He earned an MBA from Michigan
State University in Production Management and a BA from the University of Oregon
in Industrial Management.
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