TAILIEUCHUNG - Lecture Operations and supply chain management: The Core (3/e) – Chapter 11: Inventory management

After reading the material in this chapter, you should be able to: Explain the different purposes for keeping inventory, understand that the type of inventory system logic that is appropriate for an item depends on the type of demand for that item, calculate the appropriate order size when a one-time purchase must be made, . | Inventory Management Chapter 11 McGraw Hill Irwin Copyright 2013 by The McGraw Hill Companies Inc. All rights reserved. Learning Objectives 1. Explain the different purposes for keeping inventory. 2. Understand that the type of inventory system logic that is appropriate for an item depends on the type of demand for that item. 3. Calculate the appropriate order size when a one-time purchase must be made. 4. Describe what the economic order quantity is and how to calculate it. 5. Summarize fixed order quantity and fixed time period models including ways to determine safety stock when there is variability in demand. 6. Discuss why inventory turn is directly related to order quantity and safety 2 Inventory Inventory can be visualized as stacks of money sitting on forklifts on shelves and in trucks and planes while in transit For many businesses inventory is the largest asset on the balance sheet at any given time Inventory can be difficult to convert back into cash It is a good idea to try to get your inventory down as far as possible The average cost of inventory in the United States is 30 to 35 percent of its value 11 3 Inventory Models 11 4 Purposes of Inventory 11 5 Inventory Costs 11 6 Demand Types 11 7 Inventory Systems - Comparison 11 8 Single Period Inventory Model 11 9 Multi-Period Models 11 10 Multi-Period Models - Comparison Fixe d Orde r Quantity Fixe d Time Pe rio d Inventory remaining must Counting takes place only be continually monitored at the end of the review Has a smaller average period inventory Has a larger average Favors more expensive inventory items Favors less expensive Is more appropriate for items important items Is sufficient for less- Requires more time to important items maintain but is usually Requires less time to more automated maintain Is more expensive to Is less expensive to implement implement 11 11 Fixed-Order Quantity Models - Assumptions Demand for the product is constant and uniform throughout the period Lead time .

• Quản trị kinh doanh
• Supply chain management
• Supply chain processes
• Supply chain
• Inventory management
• Inventory models
• Inventory costs
• Manufacturing planning
• Control for supply chain management
• Supply chain logistics
• Management of supply chain logistics
• Supply chain logistics framework
• Warehouse replenishment systems
• Lecture Supply chain management
• Chuỗi cung ứng
• Quản lý chuỗi cung ứng
• Supply chain relationship management
• Global supply chain management
• Guide to supply chain management
• Source in supply chain management
• Guide to deliver in supply chain management
• Supply chains
• Operations planning
• Strategic sourcing initiatives
• Competitive supply chain
• Goods producing processes
• Effective operation
• Supply chain strategy
• Advances in supply chain management
• Supply chain analysis
• Advanced planning
• Essentials of supply chain management
• Supply chain operations
• Supply chain coordination
• Business strategy
• Measuring performance
• Supply chain metrics
• Supply chain opportunities
• Developing supply chain systems
• Logistics and supply chain management
• Synchronous supply chain
• Managing the global pipeline
• Managing risk in the supply chain
• Supply chain integration
• Strategic lead time management
• The synchronous supply chain
• The supply chain
• Lean supply chains
• Lean production
• Lean supply chain design