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Inventory management (Inventory-related costs (Item cost v, Inventory…
Inventory management
Inventory-related costs
Item cost v
Inventory carrying costs Cr
Order preparation costs Cp
Stockout costs Cs
Safety stocks
Role of safety stock
Determining safety stock
Reducing safety stocks
Types and functions of inventory
Types of inventory
dependent-demand items
demand directly affected by company decisions
Independent-demand items
demand primarily influenced by factors outside of company decisions
Functions of inventory
Transit or pipeline inventory
Cycle stock
Safety stock
Anticipation or seasonal inventory
Congestion stock
Hedging stock
Cycle stocks
Role of cycle stock
Economic order quantity (EOQ) model
Characteristics of EOQ
Single-period inventory systems
Multi-item inventory management