Elements of inventory management


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Inventory management involves several common elements. Among the more important of these are:

utilization of increasingly sophisticated electronic data processing systems as integral parts of material control, record, and data communications systems; use of scientific or business type decision rules and formulas to make material

control decisions that optimally balance cost and material support effectiveness;

development and implementation of various material standardization programs; planning and coordinating material actions to assure properly phased support to major items of equipment and/or weapon systems in test phases, in production, in service, and during phaseout periods; and monitoring the quality of input and output of automated inventory management systems and recommending system and programming changes to improve timeliness, accuracy, and utility of inventory information for users.

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