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INVENTORY MANAGEMENT (3) The 5 cost in inventory management (Facilities…
INVENTORY MANAGEMENT
1) The define of inventory management
The inventory management
is the supervision of non-capitalized assets (inventory) and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.
2) The basic of inventory management
Plan
Push
Pull
Identity
Unit of Measures
Stock keeping unit
ID labels
Location
Drop site
On site
Off side
Records
Paper
PC
3) The 5 cost in inventory management
Facilities cost
Procurement cost
Financial cost
Human capital
Procurement cost
4) Three service classes in inventory management.
Services classes
Critical
Non Critical
5. The strategies to better manage inventories
Postponement logistics
By using this strategy, company will send the
goods or services by lumpsum. It is
to avoid waste and save the cost
Vendor Management Logistics
Manufacture can save more money