1 Inventory Management 库存管理 Chapter 5 Hu Xiongying, Lecturer The Wuhan Institute of Technology

2 COST TRADEOFFS REQUIRED IN MARKETING AND LOGISTICS 营销和物流中的成本权衡 Marketing Objective: Allocate resources to the marketing mix in such a manner as to maximize the long-term profitability of the firm. Logistics Objective: Minimize Total Costs given the customer service objective where total costs = Transportation Costs + Warehousing Costs + Order Processing and Information Costs + Lot Quantity Costs + Inventory Carrying Costs

3 “Today’s logistics managers are being asked to manage inventory they can’t see and don’t own.” Bernard J. La Londe

4 INVENTORY POSITIONS IN A MANUFACTURING FIRM (A Naive View) 库存在制造企业中的位置 原材料库 存 在制品库 存 工厂产成 品库存 现场产成 品库存

5 INVENTORY CARRYING COSTS 库存持有成本 are those costs associated with the amount of inventory stored. As a “cost”, its unit of measure is dollars. INVENTORY CARRYING COSTS 库存持有成本 are easier to calculate as percentages. They can then be multiplied times the dollar cost of inventory to get the dollar cost of carrying the inventory.

6 NORMATIVE MODEL OF INVENTORY CARRYING COST METHODOLOGY 计算库存持有成本

7 INVENTORY VALUATION 成本计算 全部成本计算法（归纳成本法，分担成本计算法） FULL COSTING (a.k.a. Absorption Costing) –Direct Material –Direct Labor –Variable Overhead –Fixed Overhead –Allocations 直接成本法 DIRECT COSTING –Direct Material –Direct Labor –Variable Overhead

8 INVENTORY VALUATION FOR TAX PURPOSES 平均法 Average 后进先出法 “LIFO” 先进先出法 “FIFO” 先进还存法（先进留库盘存法） “FISH”

9 ADJUSTING THE COST OF MONEY TO FIT THE METHOD OF INVENTORY VALUATION 调整资金成本

10 SUMMARY OF DATA COLLECTION PROCEDURE 数据收集步骤总结

11 SUMMARY

12 SUMMARY (cont.)

13 INVENTORY CARRYING COSTS FOR PRODUCT LMN $47.16 $ $

14 INVENTORY CARRYING COSTS FOR PRODUCT XYZ $ $ $

15 THE IMPACT OF INVENTORY TURNS ON INVENTORY CARRYING COSTS (Formulae & Definitions) 库存周转对库存成本的影响

16 THE IMPACT OF INVENTORY TURNS ON INVENTORY CARRYING COSTS 库存周转对库存成本的影响

17 RELATIONSHIP BETWEEN INVENTORY TURNS AND INVENTORY CARRYING COSTS 库存周转次数和库存持有成本之间的关系

18 ANNUAL INVENTORY CARRYING COSTS COMPARED TO INVENTORY TURNS 年库存持有成本与库存周转次数的关系

19 FRAMEWORK FOR DECISION MAKING (Everything in Dollars)

20 What we learned…. How to determine the impact of inventory on profits. How inventory policy affects least cost logistics. How to calculate carrying costs. The relationship between turnover and carrying cost. Inventory is a costly investment. Techniques for inventory management