Chapter 9 Inventory management.

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Presentation transcript:

Chapter 9 Inventory management

Figure 9.1 Inventory management is the activity of planning and controlling accumulations of transformed resources as they move through supply networks, operations and processes

Figure 9.2 Inventory is created to compensate for the differences in timing between supply and demand

Figure 9.3 Inventory management has a significant effect on return on assets

Figure 9.4 Inventory profiles chart the variation in inventory level

Figure 9.5 Two alternative inventory plans with different order quantities (Q)

Figure 9.6 Inventory-related costs minimise at the ‘economic order quantity’ (EOQ)

Figure 9.7 Inventory profile for gradual replacement of inventory

Figure 9.8 Re-order level (ROL) and re-order point (ROP) are derived from the order lead time and demand rate

Figure 9.9 Safety stock(s) helps to avoid stock-outs when demand and/or order lead time are uncertain

Figure 9.10 The probability distributions for order lead time and demand rate combine to give the lead-time usage distribution

Figure 9.11 Pareto curve for items in a warehouse