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INVENTORY MANAGEMENT (3) 5 cost in inventory management (Human Capital,…
INVENTORY MANAGEMENT
1) The define of inventory management
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) Basic Inventory Management
Location
Off Site
Drop site
On Site
Plan
Push
Pull
Record
Paper
PC
Identity
Units Of Measures
Stock Keeping Unit
ID label
3) 5 cost in inventory management
Human Capital
Facilities Cost
Financial Cost
Management Cost
Procurement Cost
4) Three service classes in Inventory Management
Non Critical
Services Classes
Critical
5) . The strategies to better manage inventories
i) Vendor Management Logistic
ii) Postponement Logistic