The importance of inventory control in business increased dramatically with the shows how inventory control, with the help of OR, can be rationally structured. Inventory management is the branch of business management that covers the planning Different inventory management approaches are required for different . Inventory management mean methods that are used for organizing, Inventory control involves managing the inventory that is already in the.
|Language:||English, French, Portuguese|
|Genre:||Health & Fitness|
|ePub File Size:||22.85 MB|
|PDF File Size:||14.46 MB|
|Distribution:||Free* [*Registration Required]|
PDF | On Mar 1, , Jim Freeman and others published Inventory Control and Management. Inventory systems answer the questions: when to order and how much to order. There are two categories: •Fixed-Order Quantity System. – an order of fixed. Prod Inventory Control. 0. Inventory Control. ⇒ When to order? ⇒ How many to order? Contents. 1. FRAMEWORK OF PLANNING.
The quantity of raw materials required will be determined by the rate of consumption and the time required for replenishing the supplies. The factors like the availability of raw materials and government regulations etc.
The raw materials enter the process of manufacture but they are yet to attain a final shape of finished goods. The quantum of work in progress depends upon the time taken in the manufacturing process.
The greater the time taken in manufacturing, the more will be the amount of work in progress.
Free Download Inventory Management PPT with PDF
These materials do not directly enter production but they act as catalysts, etc. Consumables may be classified according to their consumption and criticality. The stock of finished goods provides a buffer between production and market. The purpose of maintaining inventory is to ensure proper supply of goods to customers.
The consumption pattern of raw materials, consumables, finished goods are different from that of spares.
The stocking policies of spares are different from industry to industry. Some industries like transport will require more spares than the other concerns. The costly spare parts like engines, maintenance spares etc.
It also exposes the firm to certain risks. The firm has, therefore, to arrange for additional funds to meet the cost of inventories.
The funds may be arranged from own resources or from outsiders. But in both cases, the firm incurs a cost. In the former case, there is an opportunity cost of investment while in later case the firm has to pay interest to outsiders. It is the cost of preparation and execution of an order, including cost of paper work and communicating with supplier.
There is always minimum cot involve whenever an order for replenishment of good is placed. The total annual cost of ordering is equal to cost per order multiplied by the number of order placed in a year. The stock out refer to demand for an item whose inventory level is reduced to zero and insufficient level. There is always a cost of stock out in the sense that the firm faces a situation of lost sales or back orders.
Stock out are quite often expensive. Holding of inventories also involves costs on storage as well as handling of materials.
The storage costs include the rental of the godown, insurance charge etc. Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime. Inventory Control. Upcoming SlideShare. Like this presentation? Why not share!
Embed Size px. Start on. Show related SlideShares at end.
WordPress Shortcode. Shalini Khutliwala , Student Follow. Published in: Business , Technology. Full Name Comment goes here.
Are you sure you want to Yes No. William Mulewa Hello dear, cannot download. It's great presentation. I am really indebted to you for this help.
Knox Muzumwa , Production coordinator,lusaka at Neon and general signs limited great! Show More. Prince Brighton.
Dr-Gourav Bharat. Gopal Das , No Downloads.Cycle counts X allow a business to count a small portion of the inventory every day to track the entire inventory.
Reasons for Inventory Control
Perhaps we should look for some broad evidence to see how successful they have been. Inventory management also notices about the presence of raw items that are availed in finishing orders.
When a tag is read, the data is recorded by the inventory management software. Material Management department. Which decisions are facilitated by an inventory model?
Some of these will be discussed in detail in the subsequent chapters. A discrete pdf defined as. References 2 SmallBusinessTown.
- EVCO CONTROLLER PDF
- CONTROL SYSTEM ENGINEERING BOOK NAGRATH GOPAL
- CONTROL SYSTEMS ENGINEER TECHNICAL REFERENCE HANDBOOK PDF
- CONTROL SYSTEMS ENGINEERING 7TH EDITION PDF
- MATLAB FOR CONTROL ENGINEERS KATSUHIKO OGATA PDF
- C COMPLETE REFERENCE BOOK PDF
- TORMENTA RPG EDICAO REVISADA PDF
- CORPORATE FINANCE A PRACTICAL APPROACH EBOOK
- DONALD KUSPIT EL FIN DEL ARTE PDF
- AWS D14.4 PDF
- VETERINARY IMMUNOLOGY PDF
- AHLE SUNNAT BOOK
- HUMSAFAR NOVEL BY FARHAT ISHTIAQ IN URDU PDF
- 10TH PUBLIC EXAM QUESTION PAPER 2013 PDF
- KITAB TAFSIR SHOWI PDF