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1、InventoryManagement仓储管理,Beni AsllaniUniversity of Tennessee at Chattanooga,Inventory Management,Operations Management - 5th Edition,Chapter 12,Roberta Russell & Bernard W. Taylor, III,InventoryManagement仓储管理,12-2,Lecture Outline,Elements of Inventory ManagementInventory Control SystemsEconomic Order
2、 Quantity ModelsQuantity DiscountsReorder PointOrder Quantity for a Periodic Inventory System,InventoryManagement仓储管理,12-3,What Is Inventory?,Stock of items kept to meet future demandPurpose of inventory managementhow many units to orderwhen to order,InventoryManagement仓储管理,12-4,Types of Inventory,R
3、aw materialsPurchased parts and suppliesWork-in-process (partially completed) products (WIP)Items being transportedTools and equipment,InventoryManagement仓储管理,12-5,Inventory and Supply Chain Management,Bullwhip effectdemand information is distorted as it moves away from the end-use customerhigher sa
4、fety stock inventories to are stored to compensateSeasonal or cyclical demandInventory provides independence from vendorsTake advantage of price discountsInventory provides independence between stages and avoids work stop-pages,InventoryManagement仓储管理,12-6,Two Forms of Demand,DependentDemand for ite
5、ms used to produce final products Tires stored at a Goodyear plant are an example of a dependent demand itemIndependentDemand for items used by external customersCars, appliances, computers, and houses are examples of independent demand inventory,InventoryManagement仓储管理,12-7,Inventory and Quality Ma
6、nagement,Customers usually perceive quality service as availability of goods they want when they want themInventory must be sufficient to provide high-quality customer service in TQM,InventoryManagement仓储管理,12-8,Inventory Costs,Carrying costcost of holding an item in inventoryOrdering costcost of re
7、plenishing inventoryShortage costtemporary or permanent loss of sales when demand cannot be met,InventoryManagement仓储管理,12-9,Inventory Control Systems,Continuous system (fixed-order-quantity)constant amount ordered when inventory declines to predetermined levelPeriodic system (fixed-time-period)orde
8、r placed for variable amount after fixed passage of time,InventoryManagement仓储管理,12-10,ABC Classification,Class A5 15 % of units70 80 % of value Class B30 % of units15 % of valueClass C50 60 % of units 5 10 % of value,InventoryManagement仓储管理,12-11,ABC Classification: Example,InventoryManagement仓储管理,
9、12-12,ABC Classification: Example (cont.),Example 10.1,InventoryManagement仓储管理,12-13,Economic Order Quantity (EOQ) Models,EOQoptimal order quantity that will minimize total inventory costsBasic EOQ modelProduction quantity model,InventoryManagement仓储管理,12-14,Assumptions of Basic EOQ Model,Demand is
10、known with certainty and is constant over timeNo shortages are allowedLead time for the receipt of orders is constantOrder quantity is received all at once,InventoryManagement仓储管理,12-15,Inventory Order Cycle,InventoryManagement仓储管理,12-16,EOQ Cost Model,InventoryManagement仓储管理,12-17,EOQ Cost Model,In
11、ventoryManagement仓储管理,12-18,EOQ Cost Model (cont.),InventoryManagement仓储管理,12-19,EOQ Example,Orders per year =D/Qopt=10,000/2,000=5 orders/year,Order cycle time =311 days/(D/Qopt)=311/5=62.2 store days,InventoryManagement仓储管理,12-20,Production QuantityModel,An inventory system in which an order is re
12、ceived gradually, as inventory is simultaneously being depletedAKA non-instantaneous receipt modelassumption that Q is received all at once is relaxedp - daily rate at which an order is received over time, a.k.a. production rated - daily rate at which inventory is demanded,InventoryManagement仓储管理,12
13、-21,Production Quantity Model (cont.),InventoryManagement仓储管理,12-22,Production Quantity Model (cont.),InventoryManagement仓储管理,12-23,Production Quantity Model: Example,Cc = $0.75 per yardCo = $150D = 10,000 yardsd = 10,000/311 = 32.2 yards per dayp = 150 yards per day,InventoryManagement仓储管理,12-24,Pr
14、oduction Quantity Model: Example (cont.),InventoryManagement仓储管理,12-25,Quantity Discounts,Price per unit decreases as order quantity increases,InventoryManagement仓储管理,12-26,Quantity Discount Model (cont.),InventoryManagement仓储管理,12-27,Quantity Discount: Example,Co =$2,500 Cc =$190 per computer D =20
15、0,InventoryManagement仓储管理,12-28,Reorder Point,Level of inventory at which a new order is placed,R = dL,whered = demand rate per periodL = lead time,InventoryManagement仓储管理,12-29,Reorder Point: Example,Demand = 10,000 yards/yearStore open 311 days/yearDaily demand = 10,000 / 311 = 32.154 yards/dayLea
16、d time = L = 10 daysR = dL = (32.154)(10) = 321.54 yards,InventoryManagement仓储管理,12-30,Safety Stocks,Safety stockbuffer added to on hand inventory during lead timeStockout an inventory shortageService level probability that the inventory available during lead time will meet demand,InventoryManagemen
17、t仓储管理,12-31,Variable Demand with a Reorder Point,InventoryManagement仓储管理,12-32,Reorder Point with a Safety Stock,InventoryManagement仓储管理,12-33,Reorder Point With Variable Demand,InventoryManagement仓储管理,12-34,Reorder Point for a Service Level,InventoryManagement仓储管理,12-35,Reorder Point for Variable D
18、emand,The carpet store wants a reorder point with a 95% service level and a 5% stockout probability,For a 95% service level, z = 1.65,InventoryManagement仓储管理,12-36,Order Quantity for a Periodic Inventory System,InventoryManagement仓储管理,12-37,Fixed-Period Model with Variable Demand,InventoryManagement
19、仓储管理,12-38,Copyright 2006 John Wiley & Sons, Inc.All rights reserved. Reproduction or translation of this work beyond that permitted in section 117 of the 1976 United States Copyright Act without express permission of the copyright owner is unlawful. Request for further information should be address
20、ed to the Permission Department, John Wiley & Sons, Inc. The purchaser may make back-up copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages caused by the use of these programs or from the use of the information herein.,