Inventory Management includes the integrated management and control of assigned items of material. The work involves a number of processes such as:
Requirements Determination – Planning for and determining current and future supply requirements to meet customer needs;
Material Distribution – Planning and determining the distribution and positioning of supplies among major supply stations, stock points, or using activities;
Procurement Authorization – Preparing recommendations and directives for the procurement of material, indicating the types of items, quantities, and at all times, the sources; and
Funds Management – Analyzing planned or scheduled material requirements and forecasts to determine categories and quantities of items, as well as funds required.