PPT-Inventory Management Operations Management

Dr Ron Lembke Two Questions Two main Inventory Questions How much to buy When is it time to buy Also Which products to buy From whom Types of Inventory Raw Materials Subcomponents Work in progress WIP. Chapter 15. MIS 373: Basic Operations Management. Learning Objectives. After this lecture, students will be able to . Explain the terms supply chain and . logistics. Discuss the importance of supply chain management. MANAGEMENT,. LEAN and Finance. John Carrico. What is inventory?. Inventory is anything that is purchased and held (stored) prior to use/need. product on-hand, current asset that has been acquired by cash (or payables) and is yet to be consumed. Inventory Objective Value. . Last Month’s Earnings: $60,000.00. Divide by Last Month’s Number of Operational Days: . 30. Equals (Average Daily Earnings): $ 2,000.00. PowerPoint presentation to accompany . Heizer and Render . Operations Management, 10e . Principles of Operations Management, 8e. PowerPoint slides by Jeff Heyl. Outline. The . Importance of Inventory. This module discusses periodic vs. perpetual systems, inventory position, quantity to order, time between orders, target inventory, lead times, reorder point and . safety stock.. Authors: Stu James and Robert . Chapter 13. Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. You should be able to:. LO 13.1 Define the term . Chapter 13. Learning Objectives. Define the term . inventory. List the different . types of inventory. Describe the main . functions of inventory. Discuss the main . requirements for effective inventory management. Life of an Asset. Stages of Life. Acquisition. Added to . Inventory. Asset . Management. Disposal. Fixed Asset Definition:. Not consumed in the normal course of business.. Has a useful life that exceeds one year.. Basic Functions of Organisations. Most businesses have . three basic functional areas. : . Finance/accounting. – secure, allocate and manage financial resources. . Marketing. – assess consumer needs, generate demand, sell, promote and distribute solutions (i.e. products). Industrial Technology Management . Programme. Faculty . of . Technology. Objectives / Outcomes. At the end of this . chapter, students should . be able to:. Understand industrial logistics management concept. Chapter 18. Supply chain vs. Logistics . Supply chain management. Supply chain management, then, is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. . Due to so many products used in a kitchen, kitchen inventory management is a
very difficult task. it’s not possible to remember the stock of all products with
details of the expiry date etc. Module Six: . . Global Inventory Management. 1. Presentation Agenda. Inventory management defined. Strategic considerations for I.M.. Operational activities. Economic Order Quantity & Period Order Quantity. Athletics. . Ireland. Athletics Ireland is the National Governing Body for athletics in Ireland. Our primary objective is to promote and develop the sport at every level from recreational running and school’s competitions through to supporting...