ON THE USE OF MODERN INVENTORY MANAGEMENT METHODS IN INTERNATIONAL BUSINESS

Abstract

Changes in the global environment, increased economic contradictions between states, and reorientation to new markets for the sale of finished products and supplies of raw materials or components have made the problem of organizing effective inventory management and reorganization of logistics routes in international business more urgent. The impact of Russia’s military aggression on global business processes and the search for optimal ways for companies to adapt have become significant challenges for managers in many countries. The article examines theoretical methods and approaches to inventory management using the example of international companies Nike and Boeing. Timely satisfaction of customer needs and ensuring their proper service have become a key task of modern international business. In this context, inventory management is understood as the effective organization of the supply of raw materials, other materials and resources, and manufactured products in order to ensure uninterrupted production and sales needs. The need to apply modern inventory management methods is due to the need to determine the optimal order volume and implement a system for monitoring the actual level of inventories and their timely replenishment. The competitiveness of companies, the scale of their production, and the effectiveness of their activities currently depend, in particular, on the nature, volume, and quality of material resources and inventories, as well as the level of their management. The research focuses on comparing the effectiveness of traditional and modern inventory management models, in particular EOQ, JIT, ABC and XYZ, highlighting their advantages and disadvantages, and emphasizing the need for their adaptation to current conditions and needs of multinational companies. The main attention is paid to identifying key factors that influence inventory optimization, cost reduction, and increasing the competitiveness of firms in various areas of economic activity. It is suggested that in order to ensure stable functioning and development, transnational companies should first of all pay attention to reviewing their business strategies by modern geoeconomics realities.