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. Chapter 1. Learning Objectives. Define . the terms . operations management. . and . supply . chain. Identify . 3 major functional areas . of organizations and describe how they interrelate. Identify similarities and differences between . 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 . Operations Management concerns all types of organisation. Operations management concerns all types of organisation. China. Brazil. USA. Malaysia. Romania. Germany. UK. France. 30%. 16%. 13%. 26%. 22%. 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. for Maintenance . Operations. July 14, 2014. prepared by:. Brian Savoie. Vice President. . HIGH PERFORMANCE CONCEPTS, . INC.. . 151 Village Parkway • Building 6 • Marietta, GA 30067 . Phone: 770-859-0161 • Fax: 770-859-0191 • www.hpcinc.com. Dr. Ron . Lembke. Purposes of Inventory. Meet anticipated demand. Demand variability. Supply variability. Decouple production & distribution. permits constant production quantities. Take advantage of quantity discounts. Chapter 1. McGraw-Hill/Irwin. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. Chapter 1: Learning Objectives. You should be able to:. Define the term . operations management. 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. Dr. Ron Tibben-Lembke. Purposes of Inventory. Meet anticipated demand. Demand variability. Supply variability. Decouple production & distribution. permits constant production quantities. Take advantage of quantity discounts. Chapter 1. MIS 373: Basic Operations Management. Learning Objectives. After this lecture, students will be able to . Define the . terms . operations . management. and . supply chain. Identify the three major functional areas of organizations and describe how they interrelated. Inventory control means having the right product in the right quantity at the right
time. In industry, a lot of products are used for making one product. So, inventory
management is a crucial part of any industry. Small businesses are facing more
difficulty in stock management. “my stuff organizer app” makes it simple. Module Six: . . Global Inventory Management. 1. Presentation Agenda. Inventory management defined. Strategic considerations for I.M.. Operational activities. Economic Order Quantity & Period Order Quantity.