运营管理10.pptVIP

Chapter 13Inventory Control Inventory System Defined Inventory Costs Independent vs. Dependent Demand Basic Fixed-Order Quantity Models Basic Fixed-Time Period Model Miscellaneous Systems and Issues Inventory SystemDefined Inventory is the stock of any item or resource used in an organization. These items or resources can include: raw materials, finished products, component parts, supplies, and work-in-process. An inventory system is the set of policies and controls that monitor levels of inventory and determines what levels should be maintained, when stock should be replenished, and how large orders should be. Purposes of Inventory 1. To maintain independence of operations. 2. To meet variation in product demand. 3. To allow flexibility in production scheduling. 4. To provide a safeguard for variation in raw material delivery time. 5. To take advantage of economic purchase-order size. Inventory Costs Holding (or carrying) costs. Costs for storage, handling, insurance, etc. Setup (or production change) costs. Costs for arranging specific equipment setups, etc. Ordering costs. Costs of someone placing an order, etc. Shortage costs. Costs of canceling an order, etc. Independent vs. Dependent Demand Classifying Inventory Models Fixed-Order Quantity Models Event triggered (Example: running out of stock) Fixed-Time Period Models Time triggered (Example: Monthly sales call by sales representative) Fixed-Order Quantity Models:Model Assumptions (Part 1) Demand for the product is constant and uniform throughout the period. Lead time (time from ordering to receipt) is constant. Price per unit of product is constant. Fixed-Order Quantity Models:Model Assumptions (Part 2) Inventory holding cost is based on average inventory. Ordering or setup costs are constant. All demands for the product will be satisfied. (No back orders are allowed.) Basic Fixed-Order Quantity Model and Reorder Point Behavior Cost Minimization Goal Basic Fixed-Order Quantity (EOQ) Model Formula