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Inventory Management - Coggle Diagram
Inventory Management
Inventory Decisions
What to order
Type of inventory
Finish Good
Independent Demand Item
Fluctuated Demand
Safety Stock = Z
Std(D)
sqrt(L)
Constant/Stable demand D
Work In Progress
Raw Material
Dependent Demand Item
When to order
Continous Review (s, Q) (s, S)
Reorder Point
Periodic Review (R,S), (R,s,S)
How much to order
consideration
Inventory Related Cost
Inventory Ordering Cost - R
Inventory Holding/Carrying Cost - H
EOQ Model
Material Cost ( 90% of the total cost)
Price Discount for Bulk Purchase
Discounted EOQ Model
Demand
Lead Time
Inventory Performance
Inventory Accuracy
Physical Inventory Counting
Cycle Counting
Service Level
Inventory turnover =COGS/Average Level
Inventory Valuation
FIFO
LIFO
Average Costing
Inventory in Supply Chain