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Unit 7 - Inventory Management - Coggle Diagram
Unit 7 - Inventory Management
Types of Inventories
Raw materials
Purchased parts and supplies
Finished Goods
Work-in-process (partially completed products)
Items being transported
Tools and equipment
Nature of Inventories
Raw Materials
Work-in-progress
Finished Goods
Supplies
Inventory and Supply Chain Management
Bullwhip Effect
Seasonal or Cyclical Demand
Independence from Vendors
Take Advantage of Price Discounts
Independence Between Stages and Avoids Work Stoppages
Types of demand
Dependent
Independent
Inventory Costs
Carrying cost
Ordering cost
Shortage cost
Inventory Control Systems
Continuous system (fixed-order-quantit y)
Periodic system
(fixed-time-period )
Types of EOQ Models
EOQ Cost Model
Production Quantity Model
Quantity Discount Model
Basic EOQ model
Reorder Point
ABC