PPT-Inventory Training Module 3 Inventory Order Processes

Transportation Services December 2014 Craig Warren Transportation Consultant Inventory Training Module 3 Inventory Order Processes Order Creation Determine Order Delivery Schedule Utilize Vendor Parts Catalogs. How . can it be that mathematics, being after all a product of human thought which is independent of experience, is so admirably appropriate to the objects of reality. ? Albert . Einstein. In our EOR models, R and D are used interchangeable. . 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. 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 . Stock of items held to meet future demand. Inventory management answers two questions. How much to order. When to order. Inventory Hides Problems. Poor. Quality. Unreliable. Supplier. Machine. Breakdown. 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. . Introduction. Inventory and warehouse management are closely related to the fulfillment and production processes. Warehouses often supply raw materials to manufacturing. Warehouses store and move finished and semi-finished good. 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. 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. Transportation Services. December 2014. Craig Warren. Transportation Consultant. Inventory Training Module 4. Inventory Receipt / Payment Process. Processing Packing Slips and Invoices against order creation form TD-21Paper Form. Goal of WC management of Inventory. Cost optimisation (optimum re-order level) and (optimum re-order quantity). In practice this means striking a balance between holding costs on the one hand and stockout and re-order costs on the other. 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. . Large systems have many components, including. Servers/service paradigms. Commodities. Inventory. Distribution systems . (scheduling, shipping, receiving) . Goods & services purchase. Processing interactions .