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Chapter 20: Inventory MGT - Coggle Diagram
Chapter 20: Inventory MGT
Inventory
The single-period model
Fixed-order quantity model
Fixed-time period model
Purpose of inventory
To maintain independence of operations
To meet variation in product demand
To allow flexibility in production scheduling
To provide a safeguard for variation in raw material delivery time
To take advantage of economic purchase order size
Many other domain-specific reason
Inventory costs
Holding(or carrying) costs
Setup (or production change) costs
3.Ordering costs
4.Shortage costs
Demand
Dependent demand
Independent demand
Inventory control systems
Single-period inventory models
Multiperiod inventory systems
Fix-order quantity models
Inventory turn calculation
Price-break models
Inventory planning and accuracy
ABC classification
Inventory accuracy and cycle counting