物流管理 ch-09.pptVIP

PowerPoint by Carol J. Johnson, Ph.D. CHAPTER 9 Inventory Management Overview of inventory Inventory functionality and definitions Inventory carrying cost Planning inventory Managing uncertainty Inventory management policies Inventory management practices Why do we have inventories? Because the customer usually isn’t sitting at the plant exit! Risks associated with holding inventory Typical measures of exposure to investments in inventory Time duration Depth of commitment Width of commitment Supply chain exposure based on location Manufacturer’s exposure is typically narrow, but deep and of long duration Wholesaler’s exposure is wider than manufacturers and somewhat deep Duration is medium Retailer’s exposure is wide, but not very deep Duration is usually short except for specialty retailers Inventory policy Inventory policy is a firm’s guidelines concerning What to purchase or manufacture When to take action In what quantity should action be taken Where products should be located geographically Firm’s policy also includes decisions about which inventory management practices to adopt Service level Service level is a performance target specified by management and defines inventory performance objectives Common measures of service level include Performance cycle is the elapsed time between release of a purchase order by the buyer to the receipt of shipment Case fill rate is the percent of cases ordered that are shipped as requested Line fill rate is the percent of order lines (items) that were filled completely Order fill is the percent of customer orders filled completely Inventory definitions Inventory includes materials, components, work-in-process, and finished goods that are stocked in the company’s logistical system The cycle inventory (base stock) is the portion of average inventory that results from replenishment Order quantity is the amount ordered for replenishment Transit inventory represents the amount typically in transit between facilities or