Inventory management approaches in logistic concept

Inventories are an essential component of providing material resources for production business processes and consumer needs. To ensure efficient operation, enterprises should strive for the optimal level of stocks, since excessive stocks in the warehouse freeze financial assets, reduce liquidity of assets, increase the cost of maintaining warehouses, which together leads to a decrease in the competitive advantages of the organization. Effective and rational inventory management is possible using modern logistic approaches, which determines the relevance of the study. The use of logistic inventory management is necessary to ensure and achieve the optimum between satisfaction of production needs for raw materials, materials and finished product needs of consumers at the minimum total cost of the enterprise. The article presents the main approaches to inventory management in logistics concepts, periods of their development and application features that present tools and methods to specialists with the help of which there are real opportunities to optimize material flows in enterprises, reduce delivery, storage and processing costs of stocks, improve the quality of production activities and reduce the duration of the production cycle, provide effective control over the level of expenditure of resources.