PPT-Inventory Management

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. 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.. 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 . 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. 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. March, 2017. SoftCore Solutions. P. aper . M. anufacturing Industries including:. Envelopes and other paper office supplies. Stationery. Food service paper products. Sanitary items. Paper . manufacturers across the country face significant challenges from foreign imports, fluctuating pulp prices, plant capacity management and continued decentralization of the industry. 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. 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 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
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