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INVENTORY MANAGEMENT (3) FIVE COSTS (Management Costs
This are white…
INVENTORY MANAGEMENT
3) FIVE COSTS
Management Costs
- This are white collar, personal, and information technology change
Finance Costs
- When capital was invented in inventory, the cost to finance is interest and lot of oppurtunities invested capital
Facility Costs
- Holding costs include rental, mobile, office equipment and utilities
Human Capitals
- Costs of viable to manage stock.
- example moving,handling
Procurement Costs
- Related to the cost purchasing including inbound Logstics
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4) SERVICE CLASSES
Non-critical
- The product is needed for reasonable time but not necessary urgent
Critical
- Where the service or goods are quickly needed
Schedule Delivery
- Each worker and manager should know that what time should deliver the goods
1) DEFINE
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The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost.
5) STRATEGIES
Vendor Management Logistics
Postponement Logistics
- final assembling of goods until it is made to the market and sold