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1、Chapter 11 Basic inventory planning and management Liudogmei Oct,2006Key pointslOpposing aspects of InventorieslThe main reasons for holding stockslThe many different types to inventorylThe implications for other logistic functionsLiudogmei Oct,2006Introduction to logisticslInventory is a large and
2、costly investment. lone of the most important aspects of logistics concerns questions related to inventory. Liudogmei Oct,2006Opposing aspects of Inventoriesl(The amount of inventory that should be held and its location within a companys logistics structure) is vital (in order to meet customer servi
3、ce requirements and expectations). l为了满足客户需求, 库存持有数量和库存地点定位是公司物流结构中至关重要的部分.lBut, there is, potentially, a large cost associated with holding inventory. Liudogmei Oct,2006lIt is vital to get right this balance of service versus cost.Liudogmei Oct,2006 Two Fundamental Inventory DecisionslHow much to o
4、rder of each material when orders are placed with either outside suppliers or production departments within organizationslWhen to place the ordersLiudogmei Oct,2006lIn planning any distribution system it is essential to be aware of these reasons, and to be sure that the consequences are adequate but
5、 not excessively high stock levels.l作任何的配送系统计划中,都要首先知道这些原因,并且要保证计划实施后的库存 既不过多又不短缺.Liudogmei Oct,2006Two questionslFor what reasons companies choose to hold safety stock?lWhat cause the seasonal fluctuation?Liudogmei Oct,2006Why Do We Want to Hold InventorylReduce certain costs such aslProduction cos
6、tslordering costslStock out costslacquisition costsllImprove customer servicelContribute to the efficient and effective operation of the production systemLiudogmei Oct,2006Inventory act as a bufferlSo inventroy give a buffer between supply and demand.Supplies- with variation and uncertainty in quant
7、ities and timingDemand- with variation and uncertainty in quantities and timingInventory- giving a buffer between supply and demandLiudogmei Oct,2006Types of InventorieslFirms hold different types of inventory. A useful classifications is as flow:lRaw materiallWork in processlFinished productslSpare
8、 partslconsumablesLiudogmei Oct,2006The stocks types in operationl Raw Raw materialsmaterialsOperations in the processOperations in the processWork in processWork in processSpare partsSpare partsConsumablesConsumablesFinished Finished productsproductsLiudogmei Oct,2006The implications for other logi
9、stic functionsLiudogmei Oct,2006lIt is essential for effective planning that the various costs associated with inventory are minimized in relation to other logistics costs.Liudogmei Oct,2006Liudogmei Oct,2006ABC AnalysisDollar UsageCategory # of items % of items % of $ useA151184% B251515C8874 1Tota
10、l128100100Liudogmei Oct,2006ABC Analysis - CriticalityCriticalityCategory # of items % of items % of $ useI 5 440% II 483956 III7557 4Total128100100Liudogmei Oct,2006Why We Do Not Want to Hold InventorylCertain costs increase such aslcarrying costslcost of customer responsivenesslcost of coordinatin
11、g productionllarge-lot quality costlcost of production problemsLiudogmei Oct,2006ABC Analysis Two sided viewCriticalityDollar Usage I II III TotalA2 12 1 15 B1 19 5 25C2 17 69 88Total5 48 75 128 Liudogmei Oct,2006ABC Analysis Combined Combined #%Category of items of items of $ useAA 141178% BB 16131
12、2CC 987610Total 128100 100Liudogmei Oct,2006Inventory Management Policy Parameters for Multiple ABCAABBCCCounting FrequencyMonthly Every 6 monthsYearlyOrder quantitySmall for costly itemsMedium EOQ basedLarge quantitiesSafety StockLarge for critical itemsLarge for critical itemsLow or noneReclassify Review Every six monthsEvery six monthsYearlyLiudogmei Oct,2006
