PPT-12 Inventory Management

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. 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. “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. After . studying, . you should be able to:. List the key factors that can be varied in a firm's credit policy and understand the trade-off between profitability and costs involved. . Understand how the level of investment in accounts receivable is affected by the firm's credit policies. . 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. 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. 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. Professor . JMCON . Central objective. At . the end of teaching students . acquire depth knowledge on inventory control and . able to explain and apply this knowledge in the . nursing service and education .. 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?. Module Six: . . Global Inventory Management. 1. Presentation Agenda. Inventory management defined. Strategic considerations for I.M.. Operational activities. Economic Order Quantity & Period Order Quantity. Transportation Services. December 2014. Craig Warren. Transportation Consultant. Inventory . Training Module 5. Inventory Issue Process . Service Vehicle Inventory Replenish. Issue Processes. TD18. TD18W. LO20–1: . Explain how . inventory is used and understand what it costs.. LO20–2: Analyze how different inventory control systems work.. LO20–3: Analyze inventory using the Pareto principle.. McGraw-Hill/Irwin.