High inventory costs is a problem faced by many Brazilian companies. Reducing these costs can be very beneficial. This reduction needs a careful analysis so as not to bring undesirable consequences, including unit downtime or reduced market share. The goal of this dissertation is to propose an intermediate stock management framework. The proposal is based on a systematic literature review followed by a case study with interviews and participant observation. An analysis of the intermediate stocks management in an oil and gas company is produced. A comparison between the current practices of the company and the proposed framework was carried out. Recommendations and a roadmap on how to implement this framework are offered. Agility in managing intermediate stocks and inventory reduction are pointed as contribution of this study. The main recommendations of this study for the company are related to ABC inventory classification, lean principles and tools, simulation, modelling and value stream mapping. Recommendations for future studies include quantitative techniques for mathematical modeling of inventories and simulations.