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Screenshot 2023-04-26 224831 - Coggle Diagram
TYPE OF INVENTORY
Raw Materials
Material/ Repair/ Operating
Finished goods
INVENTORY MODEL
Independent demand
Demand for item is independent of demand for other item in inventory
Dependent Demand
Demand for item is dependent upon the demand for some other item in the inventory
FUNCTION OF INVENTORY
Time Factor
Discontinuity Factor
Economy Factor
Uncertainity Factor
ORGANIZATIONAL CATEGORIES & INVENTORY PROBLEM
Retail System
Sales of goods
Sales of service
Wholesale/ Distribution System
Manufacturing System
Special project
Intermitted process
Continuous process
INVENTORY COST
Purchase cost
Order and Setup cost
Holding cost
INVENTORY MODELS FOR INDEPEND DEMAND
Basic economic order quantity (EOQ) model
Production order quantity model
Quantity discount model
INVENTORY PROBLEM CLASSIFICATIONS
Supply source
Outside
Inside
Knowledge of demand
Constant
Variable
Repetitiveness
Single
Repeat
Inventory system
Perpetual
MRP