1. INVENTORY CONTROL

2. Stock is expensive, ties up business funds and takes up valuable warehouse space. Involves a set of procedures designed to coordinate an organisation’s use of materials and aims to achieve efficiency – stock levels not too high or too low

3. TWO MAIN FORMS PHYSICAL CONTROL – Storage – Security – Physical movement – Stocktakes ACCOUNTING CONTROL – Secure accounting system – Comparisons between records and physical stock

4. JUST – IN – TIME (JIT) Inputs delivered just before their time of use in operations Relies on suppliers delivering inputs at the right time Saves on storage Example – car manufacturing

5. PRODUCTION PLANNING AND SCHEDULING Management of all aspects of the production process – Input requirements – Dispatching of instructions – Instructions