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INVENTORY MANAGEMENT (3.Five cost (human capital cost, financial cost,…
INVENTORY MANAGEMENT
3.Five cost
human capital cost
financial cost
procurement cost
facility cost
management cost
2
.
Basic inventory management
record
- transactions
location
- on site, off site, dropship
identify
- use stock, keeping units
plan
- via push and pull
4.Service classes in inventory management
- critical-
more to the emergency
**
- schedule deliveries
is a product that customized for particular customers and
delivery according to agree delivery times
- non critical
product that are needed in
reasonable time but not in urgent
5.Strategies to better manage inventories
- postponement logistics
-delaying in final product configuration until the very last moment
- vendor managed inventory
- the manufacture does not have to carry any stock only pay the stock when used
1. Definition inventory management
practices the overseeing and controlling, ordering, storage and use of components and materials that organization use in production of the item it sells.