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Inventory planning and management

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Inventory planning and management presentation is about types of inventory, reasons for keeping inventory, costs associated with keeping stocks, economic order quantity, assumptions of the optimum lot size calculation, lead time, fixed order quantity model, the periodic review model, sales and operation planning, materials requirements planning, data required to manage a basic mrp, manufacturing resource planning, thinking process of theory of constraints, types of buffer, operating guidelines from theory of constraints, objective of operation scheduling and supply chain.

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INVENTORY PLANNING AND
MANAGEMENT

UNIT 9

,INVENTORY
Stock of items used to support production
processes and other activities such as
maintenance and repairs

,TYPES OF INVENTORY
 Raw materials
 Work in process (WIP) -

 Semi finished goods

 Finished goods

 Spare parts

 Utilities (lubricants, fuels)

, Service firms also have inventory
e.g. supermarkets – goods to be sold,
restaurants - food items

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Course: Operations Management

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Uploaded on: February 22, 2024
Number of pages: 64
Written in: 2020/2021
Type: PRESENTATION
Person: Unknown

Subjects

types of inventory
economic order quantity
lead tim
inventory planning and management
reasons for keeping inventory
costs associated with keeping stocks
assumptions of the optimum lot size calculation

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