Backorder cost
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cost of order handling
additional transportation and handling costs
possibly additional setup costs
Order-up-to level and review interval are two parameters that need to be optimized
for a periodic review inventory control policy. T/F?
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True
,_____ inventory management draws inventory into stocking locations; each stocking
location is considered independent and maximizes local control of inventory.
Push
Just-In-Time
Pull
Aggregate
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Pull
Method of Solution
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Single warehouse location
Multiple warehouse location
Procurement cost includes:
Carrying Cost
Cost for holding inventory over time
Price of Goods
Storage Costs
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Price of Goods
,Data for Planning
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Typical data items
Common data sources
Converting data to useful planning information
Commodity and contract rates
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Specific rates for given shipments sizes for specific products moving
between designated points
Cost objectives
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Balancing conflicting costs to find the most economical replenishment
quantities and timing
Freight Consolidation
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, Combine small shipments into larger shipments
A problem of balancing cost savings against customer service reductions
An important area for cost reduction in many firms
Based on the rate-shipment size relationship for for-hire carriers
Minimize total transportation cost
The largest element of inventory carrying cost is:
Storage and handling cost
Obsolescence cost
Interest and opportunity cost
Insurance cost
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Interest and opportunity cost
Rail
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Low-valued products including many raw materials
Slower and less reliable than trucks
Which one of the following is a characteristic of push strategy?
Draws inventory into the stocking location
Allocates production to stocking locations based on overall demand
Attempts to synchronize stock flows so as to just meet demand as it occurs
Minimizes the need for inventory
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cost of order handling
additional transportation and handling costs
possibly additional setup costs
Order-up-to level and review interval are two parameters that need to be optimized
for a periodic review inventory control policy. T/F?
Give this one a try later!
True
,_____ inventory management draws inventory into stocking locations; each stocking
location is considered independent and maximizes local control of inventory.
Push
Just-In-Time
Pull
Aggregate
Give this one a try later!
Pull
Method of Solution
Give this one a try later!
Single warehouse location
Multiple warehouse location
Procurement cost includes:
Carrying Cost
Cost for holding inventory over time
Price of Goods
Storage Costs
Give this one a try later!
Price of Goods
,Data for Planning
Give this one a try later!
Typical data items
Common data sources
Converting data to useful planning information
Commodity and contract rates
Give this one a try later!
Specific rates for given shipments sizes for specific products moving
between designated points
Cost objectives
Give this one a try later!
Balancing conflicting costs to find the most economical replenishment
quantities and timing
Freight Consolidation
Give this one a try later!
, Combine small shipments into larger shipments
A problem of balancing cost savings against customer service reductions
An important area for cost reduction in many firms
Based on the rate-shipment size relationship for for-hire carriers
Minimize total transportation cost
The largest element of inventory carrying cost is:
Storage and handling cost
Obsolescence cost
Interest and opportunity cost
Insurance cost
Give this one a try later!
Interest and opportunity cost
Rail
Give this one a try later!
Low-valued products including many raw materials
Slower and less reliable than trucks
Which one of the following is a characteristic of push strategy?
Draws inventory into the stocking location
Allocates production to stocking locations based on overall demand
Attempts to synchronize stock flows so as to just meet demand as it occurs
Minimizes the need for inventory
