PPT-Inventory Management

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Inventory Management: Transcript

Chapter 13 Copyright 2015 McGrawHill Education All rights reserved No reproduction or distribution without the prior written consent of McGrawHill Education You should be able to LO 131 Define the term . Sparkling wines are made all over the world, but true champagne is only made in the champagne region of France. The grapes used are Chardonnay,Pinot Noir and Pinot munier. 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.. “Every management mistake ends up in inventory.”. Michael C. Bergerac. Former Chief Executive. Revlon, Inc.. 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. 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.. 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. 1. May 2011. Plant Assets. Land. Buildings. Improvements Other Than Buildings (IOB). Roads, parking, sidewalks. Usually called Infrastructure. Equipment. Both Movable and Fixed. Property Inventory. 2. 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 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. . 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. Sul Ross State University . March 2022. Training Segments . Records Inventories. File Plans . State Records Log . The Archival Process. Departmental Preservation Methods . What is a Records Inventory?. Why Implement? Time & $$$!!!. Our old physical inventory process would take all day Friday and Saturday to complete and involved over 250 people. With CISTECH‘s RF Physical Inventory solution we completed our physical inventory in 6 hours... Module Six: . . Global Inventory Management. 1. Presentation Agenda. Inventory management defined. Strategic considerations for I.M.. Operational activities. Economic Order Quantity & Period Order Quantity.

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