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TUTORIAL 4 INVENTORY MANAGEMENT (THE BASICS IN INVENTORY MANAGEMENT…
TUTORIAL 4
INVENTORY
MANAGEMENT
1.
DEFINITION OF INVENTORY
MANAGEMENT
-Inventory management is the supervision of non-capitalized
assets (inventory) and stock items.
-inventory management supervises the flow of
goods from manufacturers to warehouses and from
these facilities to point of sale
THE BASICS IN INVENTORY MANAGEMENT
PLAN
PUSH
PULL
LOCATION
ON-SITE
OFF-SITE
DROP-SHIP
IDENTITY
STOCK KEEPING UNIT
UNIT OF MEASUREMENT
ID LABELS
RECORD
PAPER
PC
3.
5 COSTS THAT
INVOLVED IN INVENTORY
MANAGEMENT
FACILITY COST
HUMAN RESOUCES COST