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Hello friends of steemit, how are you? I have been a bit detached from the platform because I am practically occupying my time in studying, fulfilling my assignments from the university and my personal life and we are already entering the period of presenting the first partials, so as we say the Venezuelans " I am full".

But today I'm back, and I want to comment roughly, that is, without going into so much detail, about Inventory Management, a very interesting topic that I am seeing in the 9th semester subject called: Production Administration.

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<center> <a href="https://www.google.co.za/search?q=innovation+management&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjp8q3X0sLbAhVPnFkKHVSEA9YQ_AUICigB#imgrc=dAkJqg09dHAF7M:"> Source </a> </center>

For those who do not know me, and it is the first time they read me, I introduce myself, I am Kerit Roberts and I am a student of the 7th semester of Industrial Engineering in my beloved house of studies UNET (National Experimental University of Táchira).

## Let us begin...

## <center> Previous concepts </center>
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To start talking about inventory management, we must first be clear about some concepts such as:

* **Inventory:** Stocks of a piece or resource used in a company or organization.

* **Inventory System:** Policies and controls that monitor and manage inventory levels, indicate how much to maintain, when to place an order, and what quantity to order.

* **Offer:** Quantity of production, orders, parts or services offered by a company to its customers.
* **Demand:** Quantity of parts, orders or services requested by the customer.

* **Warehouse**: Physical space available in our company or business available to temporarily store the merchandise or raw material, which is subject to policies and inventory control.

* **Deposit**: Physical space within our organization or business available to store resources, parts, or raw material without control of exits and entrances.

* **Forecast of the demand**: The forecast of the demand is to know in advance through study models how many products a client will require in a given time. In other words, it is a prediction of the items that the buyer will request, knowing this information is useful when it comes to stocking our warehouse.

## Yes now...

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<center> <a href = "https://www.google.co.za/search?biw=1280&bih=887&tbm=isch&sa=1&ei=SNYZW87jN-LU5gKK2LAY&q=inventario&oq=inventary&gs_l=img.3...47.1224.0.1470. 8.7.0.0.0.0.0.0..0.0 .... 0 ... 1c.1.64.img..8.0.0 .... 0.0pnz4ZFfmyg # imgrc = 4XCOAuTQWtvQeM: "> Source </a> </center>

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 We must take into account several factors to apply the models that best suit our organization.

 📌 First of all, the main factor to take into account is the nature of the product, that is, if it is a product that can remain certain periods in our warehouse or is a perishable product.

📌 Money used to supply inventories, to minimize losses due to damage or obsolescence.

📌 Know the costs involved: place the order, store the resources, transport them, costs for waste, damage, missing and cost of the item.

📌 Know the variations of demand through the use of forecast models. How much does the client need?

📌 Order size, to take advantage of discounts based on size.

📌 Physical space available to store.

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This information is just a mouthpiece of the subject, it is very important if you are starting your business or if you already have it and have not lent the required interest to inventory management, here is a brief summary of the factors that are considered most important when provisioning an inventory.
It is recommended that stores handle a reserve or safety inventory, to avoid production stops due to lack of raw materials, parts or other related to production. Poor planning and organization in this matter will bring serious losses to the owner of the organization.

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I hope this information is useful for you. If you want to go deeper into these topics, and expand your knowledge in this area, I recommend you read the book: Administration of Production Operations and Supply Chain of the authors Richard B. CHASE, F. Robert Jacobs, Nicholas J. Aquilano.

## <center> Greetings ✨ </center>

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