tailieunhanh - Lecture Operations management - Chapter 12: Inventory management

Chapter 12: Inventory management . When you complete this chapter you should be able to: Conduct an ABC analysis, explain and use cycle counting, explain and use the EOQ model for independent inventory demand, compute a reorder point and explain safety stock, apply the production order quantity model, explain and use the quantity discount model, understand service levels and probabilistic inventory models. | Operations Management Inventory Management Chapter 12 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Outline GLOBAL COMPANY PROFILE: FUNCTIONS OF INVENTORY Types of Inventory INVENTORY MANAGEMENT ABC Analysis Record Accuracy Cycle Counting Control of Service Inventories 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Outline - Continued INVENTORY MODELS Independent versus Dependent Demand Holding, Ordering, and Setup Costs INVENTORY MODELS FOR INDEPENDENT DEMAND Basic Economic Order Quantity (EOQ) Model Minimizing Costs Reorder Points Production Order Quantity Model Quantity Discount Models 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and | Operations Management Inventory Management Chapter 12 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Outline GLOBAL COMPANY PROFILE: FUNCTIONS OF INVENTORY Types of Inventory INVENTORY MANAGEMENT ABC Analysis Record Accuracy Cycle Counting Control of Service Inventories 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Outline - Continued INVENTORY MODELS Independent versus Dependent Demand Holding, Ordering, and Setup Costs INVENTORY MODELS FOR INDEPENDENT DEMAND Basic Economic Order Quantity (EOQ) Model Minimizing Costs Reorder Points Production Order Quantity Model Quantity Discount Models 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Outline - Continued PROBABILISTIC MODELS WITH CONSTANT LEAD TIME FIXED PERIOD (P) SYSTEMS 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Learning Objectives When you complete this chapter, you should be able to : Identify or Define: ABC analysis Record accuracy Cycle counting Independent and dependent demand Holding, Ordering, and Setup Costs Describe or Explain: The functions of inventory and basic inventory models 12- Transparency Masters to accompany Heizer/Render – Principles of Operations Management, 5e, and Operations Management, 7e © 2004 by Prentice Hall, Inc., Upper Saddle River, . 07458 Jeff Bezos, in 1995, started as a “virtual” retailer – no inventory, no warehouses, no overhead; just a bunch of computers. Growth .