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Managing Inventory - Coggle Diagram

- - - - Raw materials
      - Work in progress
      - Finished goods
    - - Reuse inventory
      - Goods for resale
      - Spare parts inventory
      - Maintenance repair and operations inventory
- - - - Shrinkage cost
      - Obsolescence cost
  - - - the probability that a firm can fulfil a customer’s request
        
        depends on inventory decisions
      - Determining a service level is a trade-off between cost of carrying inventory and cost of a stock-out.
      - Inventory cycle
        
        the period of time between inventory replenishments
- - - - cannot be replenished within the selling period
        
        normal distribution to calculate demand
    - - a product is saleable over a period that allows replenishment within the selling period
        
        EOQ model
  - - - inventory status is checked periodically after a predetermined period of time
    - - inventory status is continuously updated and monitored