The Influence of Lean Inventory Management on the Supply Chain
Keywords:
supply chain management, Lean Inventory Management, operational efficiencyAbstract
An increasingly vital tactic in supply chain management is Lean Inventory Management, or LIM for short. Optimizing operational efficiency while decreasing inventory holdings is its primary goal. The enormous effect that LIM practises have on supply chain performance is investigated in this study piece. Cost savings, more agility, and stronger cooperation among supply chain participants are all outcomes of adopting these practises. Supply chain operations of organisations that effectively use LIM concepts, such Just-in-Time (JIT) manufacturing and demand forecasting, see substantial gains, according to this study's extensive literature research and empirical analysis. Companies that adopt JIT manufacturing and demand forecasting are the ones responsible for these benefits. Reduced carrying costs, shorter wait times, faster inventory turnover, and happier customers are all results of these upgrades. Although LIM presents certain risks and challenges, such as a higher probability of supply chain interruptions, it also offers several significant advantages.
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