Inventory Management Strategies | 库存管理策略

📚 Inventory Management Strategies | 库存管理策略

Inventory management is the process of planning, ordering, storing and controlling stock so that a business has the right quantity of materials at the right time, without wasting money on excess inventory. In any manufacturing or retail business, inventory is often one of the largest current assets, so managers must balance the cost of holding stock against the risk of running out.

库存管理是对物料的计划、订购、储存和控制过程，目的是让企业在正确的时间拥有正确数量的物料，同时避免因库存过多而浪费资金。在任何制造或零售企业中，库存通常都是最大的流动资产之一，因此管理者必须在持有库存的成本与缺货风险之间取得平衡。

1. The Importance of Inventory Management | 库存管理的重要性

Effective inventory management ensures production can continue without interruption, customers receive their orders on time, and cash is not unnecessarily locked up in unsold goods. A business with poor inventory control may face frequent stock-outs, lost sales and angry customers, while too much stock can lead to high storage costs, wastage and obsolete products.

有效的库存管理能够确保生产不中断、客户按时收到订单，同时避免过多现金被积压在未售出的商品中。库存控制较差的企业可能频繁缺货、失去销售并惹怒客户；而库存过多则会导致仓储成本高、浪费严重以及产品过时。

From an A Level Business perspective, inventory management is part of operations management. It directly affects efficiency, customer service and profitability, and it is often tested together with lean production methods such as just-in-time.

从A Level商科的角度来看，库存管理是运营管理的一部分。它直接影响效率、客户服务和盈利能力，并且常常与准时制等精益生产方式一起出现在考题中。

2. Types of Inventory | 库存的类型

Businesses usually hold several different types of inventory. Each type has a different purpose and requires different control methods.

企业通常会持有几类不同性质的库存。每一类库存都有不同的用途，也需要不同的控制方法。

Raw materials: basic inputs bought from suppliers and used in production, such as wood, steel, flour or electronic components.

原材料：从供应商处购买并用于生产的基础投入品，例如木材、钢材、面粉或电子元件。
Work-in-progress: partly finished goods that are still being converted into final products in the production process.

在产品：生产过程中尚未完全加工完成的半成品。
Finished goods: completed products ready to be sold to customers or retailers.

产成品：已经完成生产、可以出售给客户或零售商的产品。
Maintenance, repair and operating supplies: items needed to keep the business running, such as cleaning materials, fuel or machine spare parts.

维护、维修和运营物料：维持企业正常运作所需的物品，例如清洁材料、燃料或机器零配件。

3. Benefits and Costs of Holding Inventory | 持有库存的收益与成本

Holding inventory gives a business security and flexibility, but it also creates costs. Managers need to compare the benefits of holding stock with the costs of doing so.

持有库存可以为企业带来安全性和灵活性，但同时也会产生成本。管理者需要权衡持有库存的收益和成本。

Benefits: production can continue if suppliers are late; sales can still be made when demand suddenly rises; bulk buying may attract discounts; customers receive faster delivery.

收益：即使供应商延迟交货，生产仍能继续；需求突然上升时仍能销售；批量采购能获得折扣；客户可以更快收到商品。
Costs: storage costs such as rent, insurance, heating and salaries; opportunity cost of cash tied up in stock; risk of damage, theft, deterioration or obsolescence; higher administration and ordering costs.

成本：仓储费用，如租金、保险费、取暖费和员工工资；资金积压在库存中的机会成本；损坏、盗窃、变质或过时的风险；更高的管理和订购成本。

This balance explains why businesses use tools such as the economic order quantity and just-in-time production.

这种权衡关系解释了企业为什么要使用经济订货量和准时制生产等工具。

4. Economic Order Quantity | 经济订货量

The economic order quantity is the optimum order size that minimises the total cost of ordering and holding inventory. As order size increases, ordering cost per year falls but holding cost per year rises; the EOQ is the point where total cost is lowest.

经济订货量是最佳订货批量，它能使订货成本和持有库存的总成本降到最低。随着订货批量增加，每年的订货成本下降，但每年的持有成本上升；经济订货量就是总成本最低的点。

EOQ = √(2 × Co × D ÷ Ch)

In the formula, Co represents the ordering cost per order, D is the annual demand in units, and Ch is the holding cost of one unit for one year.

在这个公式中，Co代表每次订货的订货成本，D代表每年的需求量（以件计算），Ch代表每件库存持有一年所需的持有成本。

For example, if annual demand is 10,000 units, ordering cost is $50 per order and holding cost is $1 per unit per year, then:

例如，如果年需求量为10,000件，每次订货成本为50美元，每件每年的持有成本为1美元，那么：

EOQ = √(2 × 50 × 10,000 ÷ 1) = √1,000,000 = 1,000 units

The assumptions of the EOQ model include stable demand, constant ordering and holding costs, no bulk purchase discounts, and immediate delivery. In reality these assumptions are rarely fully true, but EOQ still provides a useful starting point.

经济订货量模型的假设包括：需求稳定、订货成本和持有成本不变、没有批量采购折扣以及到货及时。在现实中这些假设很难完全成立，但经济订货量仍是一个有用的参考起点。

5. Reorder Level, Lead Time and Buffer Stock | 再订货水平、交货期与缓冲库存

The reorder level is the amount of inventory that triggers a new order. If the business orders too late, stock will run out before the new delivery arrives; if it orders too early or in too large a quantity, holding cost will rise.

再订货水平是触发新订单时的库存数量。如果订货太晚，新货到达前库存就会用完；如果订货太早或数量太大，持有成本又会上升。

Reorder level = Maximum usage × Maximum lead time

Lead time is the time between placing an order and receiving the goods. By using the maximum possible usage and the maximum likely delay, a business can reduce the chance of a stock-out.

交货期（前置时间）是从下订单到收到货物之间的时间。通过使用最大可能用量和最大可能延误时间，企业可以减少缺货的机会。

Buffer stock is the minimum level of inventory kept as a safety margin. It protects the business against unexpected demand, late deliveries or production problems.

缓冲库存是为了安全而保留的最低库存水平。它能够保护企业免受意外需求、延迟到货或生产问题的影响。

Buffer stock = (Maximum usage × Maximum lead time) − (Average usage × Average lead time)

If a business operates with a large buffer stock, customer service is secure but holding cost is high. If it operates with a small buffer stock, cash flow improves but the risk of stock-out increases.

如果企业持有大量缓冲库存，客户服务会比较有保障，但持有成本较高。如果企业只保留少量缓冲库存，现金流会改善，但缺货风险会增加。

6. Stock Control Charts | 库存控制图

A stock control chart is a visual tool used to monitor inventory levels over time. The horizontal axis shows time and the vertical axis shows the number of units held.

库存控制图是用于随时间监控库存水平的可视化工具。横轴表示时间，纵轴表示持有的库存数量。

The chart usually shows a maximum stock level, the reorder level, and a minimum or buffer stock level. When stock falls to the reorder level, an order is placed; during the lead time, stock continues to be used until the new delivery arrives and pushes the inventory level back up.

库存控制图通常显示最高库存水平、再订货水平和最低（缓冲）库存水平。当库存降到再订货水平时，企业下达订单；在交货期内，库存继续被消耗，直到新货到达并将库存水平重新推高。

If usage is steady, the chart looks like a regular sawtooth pattern. If demand is unpredictable or deliveries are delayed, stock may fall below the buffer level or even reach zero, causing a stock-out.

如果用量稳定，库存控制图看起来像规则的锯齿形。如果需求难以预测或到货延迟，库存可能会跌破缓冲水平，甚至降到零，从而造成缺货。

7. Just-in-Time | 准时制

Just-in-time is a lean production approach in which materials and goods are delivered or produced exactly when they are needed, so inventory is kept at or near zero. JIT is often contrasted with traditional just-in-case stock holding.

准时制是一种精益生产方法，物料和产品正好在需要的时候才送达或生产，因此库存几乎为零。准时制通常与传统“以防万一”的备库模式形成对比。

Advantages of JIT: lower storage costs; less waste and obsolescence; more cash available for other uses; quality problems are discovered more quickly; greater flexibility to change product design.

准时制的优点：仓储成本更低；浪费和过时风险更小；更多现金可以用于其他用途；质量问题能更快被发现；调整产品设计更加灵活。
Disadvantages of JIT: heavy reliance on suppliers; transport delays can stop production; no buffer for sudden increases in demand; ordering costs may rise because of frequent small deliveries; possible loss of bulk-buying discounts.

准时制的缺点：高度依赖供应商；运输延误可能使生产停顿；没有缓冲库存来应对需求的突然增加；因频繁小批量送货，订货成本可能上升；可能失去批量采购折扣。

JIT is most suitable for businesses with reliable suppliers, stable production schedules and perishable or fast-moving products. It is less suitable for firms with uncertain demand or poor supplier reliability.

准时制最适合那些拥有可靠供应商、稳定生产计划以及易变质或周转快的产品的企业。它不太适合需求不确定或供应商可靠性较差的公司。

8. First-In-First-Out and Stock Valuation | 先进先出法与库存估值

Inventory valuation is the method used to calculate the cost of stock issued to production or cost of sales. One common method is first-in-first-out, which assumes that the oldest items are sold before newer items.

库存估值是计算发出到生产或销售成本的方法。一种常见的方法是先进先出法，它假设最早购入的存货最先被售出。

In a period of rising purchase prices, FIFO gives a lower cost of sales and therefore a higher profit, because old cheaper stock is matched against current selling prices. However, the value of closing inventory is based on new, more expensive units.

在采购价格上升的时期，先进先出法会使销售成本较低，因此利润较高，因为旧的低价存货与当前销售价格相配比。不过，期末存货的价值基于新的更贵的一批购进单位。

An alternative is the weighted average cost method, which smooths price changes by calculating a new average cost after each purchase. A Level candidates should be able to explain how each method affects profit and inventory value.

另一种方法是加权平均成本法，它在每次进货后计算新的平均成本，从而平滑价格波动。A Level考生应当能够解释每种方法如何影响利润和库存价值。

In financial statements, inventory is normally valued at the lower of cost and net realisable value. This principle prevents businesses from overstating their assets and profits.

在财务报表中，存货通常按成本与可变现净值孰低法计价。这一原则防止企业高估资产和利润。

9. Inventory Turnover and Efficiency Ratios | 存货周转率与效率指标

Inventory turnover shows how many times a business sells and replaces its stock during a year. It is a useful indicator of inventory control efficiency.

存货周转率反映一家企业在一年内卖出并补充库存的次数，它是衡量库存控制效率的有用指标。

Inventory turnover = Cost of sales ÷ Average inventory

For example, if cost of sales is $500,000 and average inventory is $100,000, the inventory turnover is 5 times per year. This means stock is sold and replaced about five times in the year.

例如，如果销售成本是500,000美元，平均库存为100,000美元，那么存货周转率为每年5次。这意味着库存大约在一年内被卖出并补充5次。

Businesses can also calculate the average number of days stock is held:

企业还可以计算平均库存持有天数：

Average stock holding period = 365 ÷ Inventory turnover

A high turnover rate normally suggests efficient stock control and strong sales, but it could also mean frequent stock-outs. A low turnover rate may indicate overstocking, poor sales or that inventory is becoming obsolete.

较高的周转率通常意味着库存控制有效且销售强劲，但也可能意味着缺货频繁。较低的周转率可能说明库存过多、销售不佳或库存正在过时。

10. Common Problems and ICT Solutions | 常见问题与信息技术解决方案

Poor inventory management can create serious operational problems. Managers must be able to identify these problems and use modern systems to reduce them.

糟糕的库存管理会造成严重的经营问题。管理者必须能够识别这些问题，并使用现代系统加以减少。

Overstocking ties up cash and increases storage costs; understocking loses sales and disrupts production.

库存过多会占用资金并增加仓储成本；库存不足则会失去销售并扰乱生产。
Theft, damage and obsolescence can reduce the value of inventory and distort profit figures.

盗窃、损坏和过时会降低库存价值，并使利润数据失真。
Computerised inventory systems, EPOS terminals, barcodes and RFID tags allow automatic updating of stock records, faster reordering and better forecasting.

计算机化库存系统、电子销售点终端、条形码和射频识别标签可以自动更新库存记录、加快再订货并改善预测。
ABC analysis helps managers classify inventory into high-value, medium-value and low-value items so that more attention is given to important items.

ABC分析法帮助管理者将库存分为高价值、中价值和低价值类别，从而对重要项目给予更多关注。

In an examination, candidates should use the context of the business. A luxury car maker may prefer JIT because components are expensive, while a supermarket must keep large stocks of fast-moving food items but avoid waste.

在考试中，考生应当结合企业具体情况作答。豪华汽车制造商可能更适合准时制，因为零部件昂贵；而超市必须储存大量周转快的食品，但要避免浪费。

Published by TutorHao | Business Revision Series | aleveler.com

更多咨询请联系16621398022（同微信）

Inventory Management Strategies | 库存管理策略