FOR MANAGERS
INVENTORY
CONTROL
, Learning Objectives
When you complete this chapter, you should
be able to explain:
• the purpose of inventory
• the costs involved in inventory
• independent and dependent demand
• EOQ Model
, Outline
• Functions of inventory
- Types of inventory
• Inventory Models
- Independent versus dependent demand
- Holding, ordering, set up costs..
• Inventory Models for independent demand
- Basic Economic Order Quantity (EOQ)
Model
- Minimizing costs
- Reorder points