logistics
DESCRIPTION
TRANSCRIPT
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ELEMENTS OF
LOGISTICS & SUPPLY CHAIN
-T.Y.BMS
MANAGEMENT
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What is INVENTORY?
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“Inventory is stock of any item or resource used in an organization. These items or resources can include raw material, finished products, components parts etc.”
Definition
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Purpose of holding inventory
Economies of scale
Protection from uncertainty
Balancing demand and supply
Seasonal inventories
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How to improve effectiveness of inventory management
Improving effectiveness through ABC inventory method
Possessing appropriate number of ware houses
Lead time analysis
Delivery time analysis
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elimination of obsolete items
product substitution
customer service performance
development of sales and logical demand
forecast
Continue….
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Concept testing Balanced inventory
Reorder level
fill rate
dead stock
bill of material
symptoms of poor inventory
management
cycle stock
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obsolesce cost
stock out level
Service level
kan ban
two bin system
Buffer stock
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Approaches to inventory management
Just In Time (JIT)
Vendor managed inventory
quick response
automatic replenishment
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TYPES OF INVENTORY
Manufacturing
Wholesale
Retail
Pipeline
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Inventory Functionality
Geographical specialization
decoupling
Balancing Supply and Demand
Buffer and Certainty
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Selective control ABC Analysis
HML Analysis
VED Analysis
SDE Analysis
GOLF Analysis
SOS Analysis
FSN Analysis
XYZ Analysis
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INVENTORY COST
Capital Cost
Storage Cost
Deterioration & Obsolescence Cost
Insurance cost
Procurement Cost
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Replenishment system
fixed order quantity system (Q system )
fixed order interval system ( P System )
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Mrp & drp
MRP I
MRP II
DRP I
DRP II
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CONCLUSION
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