财务管理与财务分析运营管理课件PPT.ppt

* I The McGraw-Hill Companies, Inc., 1998 Irwin/McGraw-Hill Cachon Chapter 5The economic order quantity method Inventory Systems for Independent Demand Basic fixed order quantity system Constant Demand Uncertain demand Basic fixed time period system Newsvendor model Supply chain contract OPERATIONS MANAGEMENT CLASS 4 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 TRADE-OFFS You cannot sell from an empty cart OUR LINE OF CREDIT (BUDGET) WILL SUPPORT ONLY SO MUCH $1 IN INVENTORY COSTS ABOUT $.25/YEAR OUT-OF-STOCKS = LOST SALES = LOST CUSTOMERS ITS IMPOSSIBLE TO FORECAST PERFECTLY Three Questions of inventory System What to order? How many to order? When to order? Timing is a critical issue! Inventory Systems for Independent Demand Basic fixed order quantity system Constant Demand Uncertain demand Basic fixed time period system Newsvendor model Supply chain contract OPERATIONS MANAGEMENT CLASS Fixed-Order Quantity ModelsEconomic Order Quantity (EOQ): Assumptions Demand for the product is constant and uniform throughout the period Lead time (delivery time of the order) is constant Price per unit of product is constant .... Fixed-Order Quantity Models Economic Order Quantity: Assumptions (cont’d) Inventory holding cost is based on average inventory. Ordering or setup costs are constant. All demands for the product will be satisfied (No lost sales are allowed) .... EOQ : A SIMPLE MODEL Book Store Mug Sales Demand is constant, at 20 units a week Fixed order cost of $12, no lead time Holding cost of 25% of inventory value annually Mugs cost $1.00, sell for $5.00 Question How many, when to order EOQ Model--Basic Fixed-Order Quantity Model R = Reorder point = L*d Q = Economic order quantity L = Lead time d =