PRINCIPLES OF INVENTORY AND MATERIALS MANAGEMENT
|
|
|
- Beatrix Sims
- 8 years ago
- Views:
Transcription
1 PRINCIPLES OF INVENTORY AND MATERIALS MANAGEMENT Fourth Edition Richard J. Tersine The University of Oklahoma TEGHNISCHE HOCHSCHULE DARMSTADT Fochbereich 1 Gesonr> 11-. ib I iothek Betiier >wi rtschottsiehre invohtai-hr. Saciigebiete: PTR Prentice Hall, Englewood Cliffs, New Jersey 07632
2 CONTENTS PREFACE OVERVIEW OF THE BOOK xiii xv 1 INTRODUCTION 1 Inventory 3 Types of Inventory 3 Organizational Categories and Inventory Problems 5 Functions of Inventory 6 Inventory Problem Classifications 9 Properties of Inventory 12 Inventory Costs 13 Cost Accumulation Profile 15 ' Conflicting Goals 16 The Inventory Flow Cycle 18 Financial Considerations 20 Product Positioning Strategies 24 Just-in-Time 25 Business Cycle Influence 26 Conclusion 28 Questions 29 Cases 29
3 vi Contents 2 FORECASTING AND MARKET ANALYSIS 34 The Forecasting Function 38 Forecast Error 41 Time Series Analysis 44 Last Period Demand, 46 Arithmetic Average, 46 Moving Average, 47 Regression Analysis, 48 Exponentially Weighted Moving Average (EWMA), 53 EWMA with Trend Correction, 58 EWMA with Seasonal Correction, 61 EWMA with Trend and Seasonal Corrections, 64 EWMA Overview, 66 Box-Jenkins Models, 70 Soliciting Opinions 71 Economic Indicators 71 Econometric Models 75 Group Forecasting 76 Conclusion 78 Questions 80 Problems 81 Cases 83 Selected Bibliography 87 Mathematical Abbreviations and Symbols 88 Summary of Formulas 88 3 INDEPENDENT DEMAND SYSTEMS: DETERMINISTIC MODELS 90 Fixed Order Size Systems 91 Economic Order Quantity (EOQJ Single Items, 92 EOQ Sensitivity, 96 Backordering, 102 Quantity Discounts, 106 Special Sale Prices, 113 Known Price Increases, 117 Batch-Type Production Systems 120 Economic Production Quantity (EPQ) Single Items, 121 Make or Buy Decisions, 125 Economic Production Quantity (EPQ) Multiple Items, 127 Runout Time (ROT) Method, 130 Aggregate Runout Time (AROT) Method, 131
4 Contents Vii Fixed Order Interval Systems 133 Economic Order Interval (EOI) Single Items, 134 Economic Order Interval (EOI) Multiple Items, 137 Conclusion 140 Questions 140 Problems 141 Cases 146 Mathematical Abbreviations and Symbols 151 Summary of Formulas 152 Appendix A. Determination of Single Variable Maximum and Minimum Points 154 Appendix B. Derivation of EOQ with Backordering 155 Appendix C. Composite EOQ for Situational Decomposition 156 Assumptions, 156 Nomenclature, 157 Composite EOQ without Discounts, 158 Composite EOQ with Discounts, 161 Discussion, DISCRETE DEMAND SYSTEMS: DETERMINISTIC MODELS 177 Lot-for-Lot Ordering 180 Periodic Order Quantity 180 Wagner-Whitin Algorithm 181 Silver-Meal Algorithm 186 Least Unit Cost 188 Part-Period Algorithm 190 Incremental Part-Period Algorithm 193 Implications for Discrete Lot Sizing 195 Conclusion 196 Questions 198 Problems 199 Cases 200 Mathematical Abbreviations and Symbols INDEPENDENT DEMAND SYSTEMS: PROBABILISTIC MODELS 204 Safety Stock 205
5 Viii Contents Statistical Considerations 210 Normal Distribution, 212 Poisson Distribution, 213 Negative Exponential Distribution, 214 Known Stockout Costs 214 Constant Demand and Constant Lead Time, 214 Variable Demand and Constant Lead Time, 215 Constant Demand and Variable Lead Time, 226 Variable Demand and Variable Lead Time, 228 Service Levels 232 Service per Order Cycle, 233 Service per Units Demanded, 238 Imputed Service Level Stockout Costs, 242 Fixed Order Interval Systems 243 Conclusion 245 Questions 246 Problems 247 Cases 252 Mathematical Abbreviations and Symbols 258 Summary of Formulas 259 Appendix A. Probability Distribution Convolutions 260 Appendix B. Normal Distribution 261 Appendix C. Chi-Square Goodness-of-Fit Test 264 Appendix D. Order Quantity and Reorder Point Dependence INVENTORY SYSTEM CHANGES AND LIMITATIONS 273 Inventory System Redesign 274 Changeover Strategies 275 Releasing Working Capital 278 Inventory System Constraints 278 Exchange Curves, 280 Working Capital Restrictions, 284 Storage Space Restrictions, 286 Working Capital and Storage Space Restrictions, 288 Overview of Constraints, 291 Excess Stock Determination 292 An Excess Model, 294 Minimum Economic Salvage Value, 298
6 Contents ix Lead Time Influence, 298 Liquidation Alternatives, 299 Questions 301 Problems 301 Cases 302 Mathematical Abbreviations and Symbols 307 Summary of Formulas 308 Appendix A. Optimizing Constrained Functions SINGLE ORDER QUANTITIES 312 Known Demand, Known Lead Time 314 Known Demand, Variable Lead Time 314 Variable Demand, Known Lead Time 316 Benefit (Marginal) Analysis, 318 Cost Analysis, 321 Variable Demand, Variable Lead Time 325 Conclusion 325 Questions 326 Problems 326 Cases 330 Mathematical Abbreviations and Symbols 334 Summary of Formulas DEPENDENT DEMAND SYSTEMS: MATERIAL REQUIREMENTS PLANNING (MRP) 336 MRP Inputs 338 MRP Outputs 341 Product Structures 342 Low Level Coding, 345 MRP Computations 346 An EOQ-MRP Comparison 360 MRP Types 366 Closed-Loop MRP 367 MRP Overview 369 Capacity Planning and Control 371 Conclusion 376
7 X Contents Questions 378 Problems 379 Cases 383 Appendix A. Bills of Materials (BOM) IN-PROCESS INVENTORY, JUST- IN-TIME, AND THEORY OF CONSTRAINTS 401 In-Process Inventory 402 Lead Time, 405 Setup Time, 407 Time Cycle Charts, 407 Bottleneck Work Centers, 410 Input/Output Control, 410 Critical Ratio Technique, 414 Just-Ih-Time 416 Elimination of Waste, 417 Inventory as Waste, 418 Pursuit of Perfection, 420 Repetitive Manufacturing and JIT, 422 Theory of Constraints 426 Bottleneck and Nonbottleneck Resources, 428 Process and Transfer Batches, 430 Dependent Events and Statistical Fluctuations, 431 Capacity Constraint Resources, 432 Drum-Buffer-Rope Scheduling, 433 VAT Plants, 435 Continual Improvement, 438 Conclusion 444 Questions 444 Problems 445 Cases DISTRIBUTION INVENTORY SYSTEMS 457 Push vs. Pull Distribution Systems 460 Time-Phased Order Point 462 Distribution Requirements Planning 464 Fair Shares Allocations 469 Lot Sizing and Safety Stock 471 Conclusion 473 Questions 473
8 Contents xi Problems 474 Cases INVENTORY VALUATION AND MEASUREMENT 479 Flow of Costs 481 FIFO, 482 LIFO, 484 Average Cost, 486 Specific Cost, 489 Summary, 489 Lower of Cost or Market 491 Inventory Records 492 Periodic Count Method, 494 Cycle Count Method, 495 Inventory Security 498 Questions 499 Problems 500 Cases SIMULATION 507 Simulation Categories 509 Monte Carlo Simulation 510 Perpetual Inventory Simulation Problem 513 Periodic Inventory Simulation Problem 518 Simulation of Joint Probability Distributions 520 Length of Simulation Run 523 Conclusion 524 Questions 524 Problems 525 Cases 528 Mathematical Abbreviations and Symbols AGGREGATE INVENTORY CONTROL 534 Types of Control Systems 537 Perpetual Inventory System, 539 Two-Bin Inventory System, 540 Periodic Inventory System, 541
9 Xii Contents Optional Replenishment Inventory System, 542 Distribution Requirements Planning Inventory System, 544 Single Order Quantity Inventory System, 544 Material Requirements Planning Inventory System, 544 Just-in-Time Inventory System, 546 Theory of Constraints Inventory System, 546 Selective Inventory Control 546 Inventory System Development 550 Inventory System Improvement 552 Aggregate Inventory Measurement 555 Aggregate Inventory Reduction 556 Raw Materials, Supplies, and Finished Goods, 556 In-Process Inventory, 560 Lead Time Reduction 562 Conclusion 563 Questions 565 Cases 566 BIBLIOGRAPHY 572 INDEX 575
Principles of Inventory and Materials Management
Principles of Inventory and Materials Management Second Edition Richard J. Tersine The University of Oklahoma m North Holland New York Amsterdam Oxford TECHNISCHE HOCHSCHULE DARMSTADT Fochbereich 1 Gesamthiblio-thek
Materials Management and Inventory Systems
Materials Management and Inventory Systems Richard J.Tersine Old Dominion University 'C & North-Holland PUBLISHING COMPANY NEW YORK AMSTERDAM Contents Preface Chapter 1 INTRODUCTION 1 Inventory 4 Types
E217 Inventory Management (4 Modular Credits)
E17 Inventory Management ( Modular Credits) This document addresses the content related abilities, with reference to the module. Abilities of learning, thinking, problem solving, teamwork, communication,
Production and Inventory Management
Production and Inventory Management ARNOLDO C. HAX Massachusetts Institute of Technology DAN CANDEA Polytechnic Institute of Cluj-Napoca TECHNISCHE HOCHSCHULE DARMSTADT FoaiberGirii 1 Gesam th ibl iot
Operations Management
11-1 Inventory Management 11-2 Inventory Management Operations Management William J. Stevenson CHAPTER 11 Inventory Management 8 th edition McGraw-Hill/Irwin Operations Management, Eighth Edition, by William
Glossary of Inventory Management Terms
Glossary of Inventory Management Terms ABC analysis also called Pareto analysis or the rule of 80/20, is a way of categorizing inventory items into different types depending on value and use Aggregate
Management and Cast Accaunting
COLIN DRURY Management and Cast Accaunting Second edition CHAPMAN AND HALL University and Professional Division LONDON. NEW YORK. TOKYO. MELBOURNE. MADRAS Contents Preface XVI Part I: Introduction to Management
Manufacturing Planning and Control for Supp Chain Management
Manufacturing Planning and Control for Supp Chain Management Sixth Edition F. Robert Jacobs Indiana University William L. Berry The Ohio State University (Emeritus) D. Clay Whybark University of North
Inventory Management - A Teaching Note
Inventory Management - A Teaching Note Sundaravalli Narayanaswami W.P. No.2014-09-01 September 2014 INDIAN INSTITUTE OF MANAGEMENT AHMEDABAD-380 015 INDIA Inventory Management - A Teaching Note Sundaravalli
Basics of Supply Chain Management (BSCM) Curriculum
Basics of Supply Chain Management (BSCM) Curriculum Version 4.0 Session 1 to Supply Chain Management to Manufacturing Role of Manufacturing Global Citizenship Manufacturing Business Model Business Environment
Teaching Manual-Operation Management. Gunadarma University. Week : 9 Subject : INVENTORY MANAGEMENT Content :
Week : 9 Subject : INVENTORY MANAGEMENT Content : WHY INVENTORY a. One of the most expensive assets of many companies representing as much as 50% of total invested capital b. Operations managers must balance
Introduction to Financial Models for Management and Planning
CHAPMAN &HALL/CRC FINANCE SERIES Introduction to Financial Models for Management and Planning James R. Morris University of Colorado, Denver U. S. A. John P. Daley University of Colorado, Denver U. S.
Manufacturing Planning and Control for Supply Chain Management
Manufacturing Planning and Control for Supply Chain Management APICS/CPIM Certification Edition F. Robert Jacobs Indiana University William L. Berry The Ohio State University (Emeritus) D.ClayWhybark University
Material Requirements Planning. Lecturer: Stanley B. Gershwin
Material Requirements Planning Lecturer: Stanley B. Gershwin MRP Overview Primary source: Factory Physics by Hopp and Spearman. Basic idea: Once the final due date for a product is known, and the time
Small Lot Production. Chapter 5
Small Lot Production Chapter 5 1 Lot Size Basics Intuition leads many to believe we should manufacture products in large lots. - Save on setup time - Save on production costs Costs associated with Lots
Production Planning and Inventory Control
Production Planning and Inventory Control JOHN F. MAGEE Arthur D. Little, Inc. Cambridge, Massachusetts Institut fur PraWche Mathematik Hochschule istadr McGRAW-HILLjBOOK COMPANY, INC. New York Toronto
Material Requirements Planning (MRP)
The Priority Enterprise Management System Material Requirements Planning (MRP) Contents MRP - Introduction...2 Calculating Demand for Top-Level Parts...2 Calculating Demand for Sub-assemblies and Raw Materials...3
Universidad del Turabo MANA 705 DL Workshop Eight W8_8_3 Aggregate Planning, Material Requirement Planning, and Capacity Planning
Aggregate, Material Requirement, and Capacity Topic: Aggregate, Material Requirement, and Capacity Slide 1 Welcome to Workshop Eight presentation: Aggregate planning, material requirement planning, and
QUANTITATIVE METHODS. for Decision Makers. Mik Wisniewski. Fifth Edition. FT Prentice Hall
Fifth Edition QUANTITATIVE METHODS for Decision Makers Mik Wisniewski Senior Research Fellow, Department of Management Science, University of Strathclyde Business School FT Prentice Hall FINANCIAL TIMES
Operations Research in Production Planning, Scheduling, and Inventory Control
TECHNISCHE HOCHSCHULE DARMSTADT Fachbereich 1 Ges am t b i bj_[o_t he_k Bet ri eb? wi rtscha\ \ si eh re Inventar-Nr. : Abstell-Nr. : Sachgebiete:.^~ Operations Research in Production Planning, Scheduling,
INVENTORY MANAGEMENT. 1. Raw Materials (including component parts) 2. Work-In-Process 3. Maintenance/Repair/Operating Supply (MRO) 4.
INVENTORY MANAGEMENT Inventory is a stock of materials and products used to facilitate production or to satisfy customer demand. Types of inventory include: 1. Raw Materials (including component parts)
Operations Management. 3.3 Justify the need for Operational Planning and Control in a selected Production Process
Operations Management 3.3 Justify the need for Operational Planning and Control in a selected Production Process Key Topics LO3 Understand how to organise a typical production process 3.3 justify the need
CENGAGE Learning" Australia Grazil«Japan Korea Mexico Singapore» Spain United Kingdom «United States
COLIN DRURY COST AND MANAGEMENT ACCOUNTING AN INTRODUCTION EIGHTH EDITION visit the Website at drury-online.com CENGAGE Learning" Australia Grazil«Japan Korea Mexico Singapore» Spain United Kingdom «United
Inventory Management, Just-in-Time, and Backflush Costing
Inventory Management, Just-in-Time, and Backflush Costing Inventory Management in Retail Organizations Inventory Management is planning coordinating controlling activities related to the flow of inventory
Course Supply Chain Management: Inventory Management. Inventories cost money: Reasons for inventory. Types of inventory
Inventories cost money: Inventories are to be avoided at all cost? Course Supply Chain Management: Or Inventory Management Inventories can be useful? Chapter 10 Marjan van den Akker What are reasons for
Production and Operations. Management Systems
Production and Operations Management Systems Sushil Gupta and Martin Starr CRC Press Taylor & Francis Croup Boca Raton London New York CRC Press is an imprint of the Taylor & Francis Group, an informa
Table of Contents. Bibliografische Informationen http://d-nb.info/98771483x. digitalisiert durch
1 What is Microsoft Dynamics AX? 1 1.1 Axapta and the History of Dynamics AX 1 1.2 Dynamics AX 2009 Product Overview 2 1.3 Technology and System Architecture 4 1.4 Application Components 8 2 Getting Started:
A Programme Implementation of Several Inventory Control Algorithms
BULGARIAN ACADEMY OF SCIENCES CYBERNETICS AND INFORMATION TECHNOLOGIES Volume, No Sofia 20 A Programme Implementation of Several Inventory Control Algorithms Vladimir Monov, Tasho Tashev Institute of Information
A Cross-Functional View of Inventory Management, Why Collaboration among Marketing, Finance/Accounting and Operations Management is Necessary
A Cross-Functional View of Inventory Management, Why Collaboration among Marketing, Finance/Accounting and Operations Management is Necessary Richard E. Crandall, Appalachian State University, John A.
Principles of Inventory Management (PIM)
Principles of Inventory Management (PIM) Session 1: Operation Management Foundations Define the science and practice of operations management (OM) Answer the question why OM should be studied Describe
BSCM Sample TEST. CPIM(Certified In Production & Inventory Management) - 1 -
BSCM Sample TEST. 1. Which of the following demand fulfillment approaches typically provides the longest delivery time? A) Engineer-to-order. B) Make-to-order. C) Assemble-to-order. D) Make-to-stock. 2.
MATERIAL REQUIREMENTS PLANNING
MATERIAL REQUIREMENTS PLANNING A basic tool for performing the detailed material planning function in the manufacture of component parts and their assembly into finished items. MRP s Managerial objective
Chapter 6. Inventory Control Models
Chapter 6 Inventory Control Models Learning Objectives After completing this chapter, students will be able to: 1. Understand the importance of inventory control and ABC analysis. 2. Use the economic order
Supply Chain Leaders Understanding and Improving Supply Chain Performance Where It Counts
Leaders Understanding and Improving Performance Where It Counts What is the Leaders Programme? Leaders is an action-oriented, practical programme which identifies the most vital supply chain improvements
1 2 3 4 5 Demand 150 170 180 160 160
MGT 3110: Exam 2 Study Guide 1. What is aggregate planning? What is its purpose? 2. What are demand options for aggregate planning? Give examples and discuss the effects of each. 3. Why is there a need
Chapter 9. Inventory management
Chapter 9 Inventory management Slack et al s model of operations management Direct Design Operations Management Deliver Develop Supply network management Capacity management Inventory management Planning
Institute of Actuaries of India Subject CT3 Probability and Mathematical Statistics
Institute of Actuaries of India Subject CT3 Probability and Mathematical Statistics For 2015 Examinations Aim The aim of the Probability and Mathematical Statistics subject is to provide a grounding in
Agenda. TPPE37 Manufacturing Control. A typical production process. The Planning Hierarchy. Primary material flow
TPPE37 Manufacturing Control Agenda Lecture 2 Inventory Management 1. Inventory System Defined 2. Inventory Costs 3. Inventory classification 4. Economic order quantity model 5. Newsboy problem 6. Reorder
Chapter 14 Inventory Management
Chapter 14 Inventory Management Overview Nature of Inventories Opposing Views of Inventories Fixed Order Quantity Systems Fixed Order Period Systems Other Inventory Models Some Realities of Inventory Planning
Functional Area Systems Lecture 5
ACS-1803 Introduction to Information Systems Instructor: David Tenjo Functional Area Systems Lecture 5 1 1. ACCOUNTING TRANSACTION SYSTEMS 2 1 Business Transaction Cycles 3 Business Transaction Cycles
THIRD EDITION VOLUME 10. Edited by. Sinead Roden, Michael Lewis, and. Nigel Slack. City University London, University of Bath, and
WILEY ENCYCLOPEDIA OF MANAGEMENT THIRD EDITION VOLUME 10 OPERATIONS MANAGEMENT Edited by Sinead Roden, Michael Lewis, and Nigel Slack City University London, University of Bath, and University ofwarwick
Supply Chain Management with SAP APO
Jörg Thomas Dickersbach Supply Chain Management with SAP APO Structures, Modelling Approaches and Implementation of SAP SCM 2008 3rd edition Springer Contents PART I - OVERVIEW 1 SCM Projects with SAP
GESTION DE LA PRODUCTION ET DES OPERATIONS PICASSO EXERCICE INTEGRE
ECAP 21 / PROD2100 GESTION DE LA PRODUCTION ET DES OPERATIONS PICASSO EXERCICE INTEGRE 2004-2005 Prof : Pierre Semal : semal@poms.ucl.ac.be Assistants : Eléonore de le Court : delecourt@poms.ucl.ac.be
Economic Production Quantity (EPQ) Model with Time- Dependent Demand and Reduction Delivery Policy
ISSN NO:: 348 537X Economic Production Quantity (EPQ) Model with Time- Dependent Demand and Reduction Delivery Policy Dr. Neeraj Agarwal Professor & Head, Department of Hotel Management, Graphic Era University,
Understanding Stock and Inventory Control
Understanding Stock and Inventory Control Stock control, otherwise known as inventory control, is used to show how much stock you have at any one time, and how you keep track of it. It applies to every
ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING
ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING COURSE DESCRIPTION: Prerequisites ENG 090, and RED 090 or DRE 098; MAT 070 or DMA 010, 020, 030, 040, or satisfactory score on placement test Corequisites: None
Material Requirements Planning (MRP)
Material Requirements Planning (MRP) Unlike many other approaches and techniques, material requirements planning works which is its best recommendation. Joseph Orlicky, 1974 1 History Begun around 1960
THE CERTIFIED SIX SIGMA BLACK BELT HANDBOOK
THE CERTIFIED SIX SIGMA BLACK BELT HANDBOOK SECOND EDITION T. M. Kubiak Donald W. Benbow ASQ Quality Press Milwaukee, Wisconsin Table of Contents list of Figures and Tables Preface to the Second Edition
Contents. List of Figures. List of Tables. List of Examples. Preface to Volume IV
Contents List of Figures List of Tables List of Examples Foreword Preface to Volume IV xiii xvi xxi xxv xxix IV.1 Value at Risk and Other Risk Metrics 1 IV.1.1 Introduction 1 IV.1.2 An Overview of Market
By: ATEEKH UR REHMAN 12-1
12 Inventory Management By: ATEEKH UR REHMAN 12-1 Inventory Management The objective of inventory management is to strike a balance between inventory investment and customer service 12-2 Importance of
After this unit you should be able to answer following questions A. Concept Questions B. Short notes 1. Inventory and Inventory management 2.
After this unit you should be able to answer following questions A. Concept Questions B. Short notes 1. Inventory and Inventory management 2. Lead time 3. Reserve stock and safety stock 4. Reorder level
Equations for Inventory Management
Equations for Inventory Management Chapter 1 Stocks and inventories Empirical observation for the amount of stock held in a number of locations: N 2 AS(N 2 ) = AS(N 1 ) N 1 where: N 2 = number of planned
1 Material Requirements Planning (MRP)
IEOR 4000: Production Management page 1 Professor Guillermo Gallego 1 Material Requirements Planning (MRP) Material Requirements Planning (MRP) is a computer-based production planning and inventory control
Management Accounting (F2/FMA) September 2015 (for CBE exams from 23 September 2015) to August 2016
Management Accounting (F2/FMA) September 2015 (for CBE exams from 23 September 2015) to August 2016 This syllabus and study guide are designed to help with teaching and learning and is intended to provide
Schneps, Leila; Colmez, Coralie. Math on Trial : How Numbers Get Used and Abused in the Courtroom. New York, NY, USA: Basic Books, 2013. p i.
New York, NY, USA: Basic Books, 2013. p i. http://site.ebrary.com/lib/mcgill/doc?id=10665296&ppg=2 New York, NY, USA: Basic Books, 2013. p ii. http://site.ebrary.com/lib/mcgill/doc?id=10665296&ppg=3 New
MATERIALS MANAGEMENT. Module 9 July 22, 2014
MATERIALS MANAGEMENT Module 9 July 22, 2014 Inventories and their Management Inventories =? New Car Inventory Sitting in Parking Lots Types of Inventory 1. Materials A. Raw material B. WIP C. Finished
Supply Chain Inventory Management Chapter 9. Copyright 2013 Pearson Education, Inc. publishing as Prentice Hall 09-01
Supply Chain Inventory Management Chapter 9 09-01 What is a Inventory Management? Inventory Management The planning and controlling of inventories in order to meet the competitive priorities of the organization.
Fundamentals of Materials and Operations Management
Fundamentals of Materials and Operations Management Program Overview Program Overview Introduction Fundamentals of Materials and Operations Management Fundamentals of Materials and Operations Management
Project Management Using Earned Value
Project Management Using Earned Value Third Edition Gary C. Humphreys Earned Value Management Consulting Training 2002, 2011, 2014 Gary C. Humphreys Humphreys & Associates, Inc. All rights reserved. No
ERP(Enterprise Resource Planning) & MRP
ERP(Enterprise Resource Planning) & MRP Mr.Vijayakumar S 1 Session Objectives At the end of this session the delegate would have understood ERP ERP example SAP MRP and structure MRP1 & MRPII difference
MGT 3110 - Exam 2 Formulas. Item $ Usage % of $ usage Cumulative % of $ Cumulative % of no. of items Class
Chapter 12 Inventory Management MGT 3110 - Exam 2 Formulas ABC Classification rule: Class A: ~15% of items, 70-80% annual $ usage Class B: ~30% of items, 15-25% annual $ usage Class C: ~55% of items, 5%
Encyclopedia of Operations Management
Encyclopedia of Operations Management For many years, a free electronic copy of an early version of this encyclopedia was made available on the Production and Operations Management Society (POMS) webpage
Management Accounting (F2/FMA) February 2013 to January 2014
Management Accounting (F2/FMA) February 2013 to January 2014 This syllabus and study guide is designed to help with teaching and learning and is intended to provide detailed information on what could be
Agenda. Real System, Transactional IT, Analytic IT. What s the Supply Chain. Levels of Decision Making. Supply Chain Optimization
Agenda Supply Chain Optimization KUBO Mikio Definition of the Supply Chain (SC) and Logistics Decision Levels of the SC Classification of Basic Models in the SC Logistics Network Design Production Planning
Planning Optimization in AX2012
Planning Optimization in AX2012 Streamline your manufacturing operations with Master Planning and Forecasting Kevin Cosman 11 June 2013 About the Presenter Kevin Cosman, Senior Solutions consultant with
TOOLS OF MONTE CARLO SIMULATION IN INVENTORY MANAGEMENT PROBLEMS
TOOLS OF MONTE CARLO SIMULATION IN INVENTORY MANAGEMENT PROBLEMS Jacek Zabawa and Bożena Mielczarek Institute of Industrial Engineering and Management Wrocław University of Technology 50-370, Wrocław,
INVENTORY MANAGEMENT: Principles, Concepts and Techniques
INVENTORY MANAGEMENT: Principles, Concepts and Techniques Materials Management I Logistics Series Eugene L. Magad, Series Editor Previously vublished by Chavman & Hall Total Materials Management: Achieving
Ud Understanding di inventory issues
Lecture 10: Inventory Management Ud Understanding di inventory issues Definition of inventory Types of inventory Functions of inventory Costs of holding inventory Introduction to inventory management Economic
Consumption-Driven Finite Capacity Inventory Planning and Production Control. A thesis presented to. the faculty of
Consumption-Driven Finite Capacity Inventory Planning and Production Control A thesis presented to the faculty of the Russ College of Engineering and Technology of Ohio University In partial fulfillment
Operations Management
13-1 MRP and ERP Operations Management William J. Stevenson 8 th edition 13-2 MRP and ERP CHAPTER 13 MRP and ERP McGraw-Hill/Irwin Operations Management, Eighth Edition, by William J. Stevenson Copyright
Manufacturing Flow Management
Manufacturing Flow Management Distribution D Distribution Authorized to Department of Defense and U.S. DoD Contractors Only Aim High Fly - Fight - Win Supply Chain Management Processes Information Flow
Chapter 16 Inventory Management and Control
Chapter 16 Inventory Management and Control We shall be interested primarily in the control of material in manufacturing. Actually, we are concerned with the control of the flow of material from a raw
A spreadsheet Approach to Business Quantitative Methods
A spreadsheet Approach to Business Quantitative Methods by John Flaherty Ric Lombardo Paul Morgan Basil desilva David Wilson with contributions by: William McCluskey Richard Borst Lloyd Williams Hugh Williams
The Next Generation of Inventory Optimization has Arrived
The Next Generation of Inventory Optimization has Arrived Cutting-edge demand classification technology integrated with network optimization and simulation enables cost reduction and increased inventory
OR topics in MRP-II. Mads Jepsens. OR topics in MRP-II p.1/25
OR topics in MRP-II Mads Jepsens OR topics in MRP-II p.1/25 Overview Why bother? OR topics in MRP-II p.2/25 Why bother? Push and Pull systems Overview OR topics in MRP-II p.2/25 Overview Why bother? Push
tutor2u Stock Control The Importance of Managing Stocks AS & A2 Business Studies PowerPoint Presentations 2005
Stock Control The Importance of Managing Stocks AS & A2 Business Studies PowerPoint Presentations 2005 What Are Stocks? Three main categories of stocks Raw Materials Work in Progress Finished Goods Types
Operations Management Study Guide
Operations Management Study Guide Inventory Management Amazon.com example Wanted to be a virtual retailer (no inventory, no warehouse, no overhead) Now, they are one of the largest retailers Obtain knowledge
Understanding Financial Management: A Practical Guide Guideline Answers to the Concept Check Questions
Understanding Financial Management: A Practical Guide Guideline Answers to the Concept Check Questions Chapter 6 Working Capital Management Concept Check 6.1 1. What is the meaning of the terms working
THE TRADING WORLD OF ASIA AND THE ENGLISH EAST INDIA COMPANY
THE TRADING WORLD OF ASIA AND THE ENGLISH EAST INDIA COMPANY 1660-1760 K. N. CHAUDHURI Reader in the Economic History of Asia The School of Oriental and African Studies, university of London CAMBRIDGE
Automated Scheduling Methods. Advanced Planning and Scheduling Techniques
Advanced Planning and Scheduling Techniques Table of Contents Introduction 3 The Basic Theories 3 Constrained and Unconstrained Planning 4 Forward, Backward, and other methods 5 Rules for Sequencing Tasks
CIMA Chartered Management Accounting Qualification 2010
CIMA Chartered Management Accounting Qualification 2010 Student Support Guide Paper P1 Performance Operations Introduction This guide outlines matters to be considered by those wishing to sit the examination
Inventory Management: Fundamental Concepts & EOQ. Chris Caplice ESD.260/15.770/1.260 Logistics Systems Oct 2006
Inventory Management: Fundamental Concepts & EOQ Chris Caplice ESD.260/15.770/1.260 Logistics Systems Oct 2006 Agenda Wrap up of Demand Forecasting Fundamentals of Inventory Management Economic Order Quantity
Production and Operations Analysis
Production and Operations Analysis Sixth Edition Steven Nahmias Santa Clara University Me Graw Hill Boston Burr Ridge, IL Dubuque, IA Madison, Wl New York San Francisco St. Louis Bangkok Bogota Caracas
INVENTORY MANAGEMENT
7 INVENTORY MANAGEMENT MGT2405, University of Toronto, Denny Hong-Mo Yeh Inventory management is the branch of business management that covers the planning and control of the inventory. In the previous
26/10/2015. Functional Area Systems Production / Operation Systems. Examples: Functional Area Info Systems. Functional Area Information Systems
ACS-1803 Introduction to Information Systems Instructor: Kerry Augustine Functional Area Systems Production / Operation Systems Lecture Outline 5, Part 2 ACS-1803 Introduction to Information Systems Examples:
Functional Area Systems Production / Operation Systems
ACS-1803 Introduction to Information Systems Instructor: Kerry Augustine Functional Area Systems Production / Operation Systems Lecture Outline 5, Part 2 ACS-1803 Introduction to Information Systems Examples:
C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH
C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH 8-1 Intermediate Accounting IFRS Edition Presented By: Ratna Candra Sari Email: ratna_candrasari@uny.ac.id Learning Objectives 1. Identify
Certified in Production and Inventory Management (CPIM)
Certified in Production and Inventory Management (CPIM) 2 Visie Partners This brochure provides information about the Certified in Production and Inventory Management (CPIM) course. This is one of the
Applying Actual Usage Inventory Management Best Practice in a Health Care Supply Chain
Applying Actual Usage Inventory Management Best Practice in a Health Care Supply Chain Vijith Varghese #1, Manuel Rossetti #2, Edward Pohl #3, Server Apras *4, Douglas Marek #5 # Department of Industrial
Fundamentals of Financial Planning and Management for mall usiness
E REPRE EUR A F A CE Fundamentals of Financial Planning and Management for mall usiness M.J. Alhabeeb ENTREPRENEURIAL FINANCE The first effective form of investment was realized when the primitive man
TABLE OF CONTENTS CHAPTER TITLE PAGE
viii TABLE OF CONTENTS CHAPTER TITLE PAGE TITLE PAGE DECLARATION DEDICATION ACKNOWLEDGEMENT ABSTRACT ABSTRAK TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURES LIST OF APPENDICES I II III IV VI VII VIII
INVENTORY CONTROL BY TOYOTA PRODUCTION SYSTEM KANBAN METHODOLOGY A CASE STUDY
Int. J. Mech. Eng. & Rob. Res. 2013 V M Nistane and Srinivas Viswanath V, 2013 Research Paper ISSN 2278 0149 www.ijmerr.com Vol. 2, No. 1, January 2013 2013 IJMERR. All Rights Reserved INVENTORY CONTROL
An investigation into production scheduling systems
Computer Science Kjell Olofsson An investigation into production scheduling systems D-dissertation (10 p) 2004:06 This report is submitted in partial fulfillment of the requirements for the Master s degree
JEFFERSON COLLEGE COURSE SYLLABUS
JEFFERSON COLLEGE COURSE SYLLABUS MGT 262 FINANCIAL MANAGEMENT 3 Credit Hours Prepared by Don Boyer Revision Date: May 2002 by Don Boyer CAREER & TECHNICAL EDUCATION Alan C. Foster, Associate Dean MGT