Inventory Management

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Inventory management

专利名称：Inventory management发明人：Matthias Heinrichs,Pascale VanLaethem,Markus Seng,Achim Heger申请号：US10159599申请日：20020531公开号：US20030204480A1公开日：20031030专利内容由知识产权出版社提供专利附图：摘要：Methods and apparatus, including computer program products, implementing and using techniques for inventory management. managing data items in an inventory management system. A request to add a data item to the inventory management systemis received. The data item has an associated set of attributes to be represented in the inventory management system. It is determined whether the inventory management system includes a structure in which the data item and the set of attributes associated with the data item can be represented. If no structure exists in which the data item and the set of attributes associated with the data item can be represented, a new structure is automatically defined in which the data item and the set of attributes associated with the data item can be represented. The data item and the set of attributes associated with the data item is added to the defined new structure.申请人：HEINRICHS MATTHIAS,LAETHEM PASCALE VAN,SENG MARKUS,HEGER ACHIM 更多信息请下载全文后查看。

库存管理系统设计与实现-英语论文

库存管理系统设计与实现-英语论文1. IntroductionInventory management plays a crucial role in the success of any organization. It involves the control and monitoring of goods and materials that a company holds in stock. Effective inventory management ensures that the right products are available at the right time, in the right quantity, and atthe right cost. In this paper, we present a comprehensivestudy on the design and implementation of a state-of-the-art inventory management system.2. Overview of Inventory Management2.1 Importance of Inventory ManagementInventory management is essential to meet customer demand, optimize cash flow, minimize stockouts, reduce carrying costs, and improve overall operational efficiency.2.2 Challenges in Inventory ManagementManaging inventory is not without its challenges. Some common challenges include demand forecasting errors, inaccurate data entry leading to discrepancies between physical stock and system records, lack of real-time visibility into inventory levels across multiple locations or warehouses, inefficient order fulfillment processes resulting in delayed shipments or stockouts.3. Designing an Effective Inventory Management System3.1 System Requirements AnalysisBefore designing an inventory management system, it iscrucial to conduct a thorough analysis of businessrequirements such as demand forecasting methods, order fulfillment processes, lead time variability analysis, safety stock levels determination methods.3.2 Database DesignA well-designed database is essential for storing and retrieving accurate inventory data efficiently. The database should include tables for products/items master data such as SKU (Stock Keeping Unit), description, cost price; transactional data such as purchase orders (PO), sales orders (SO), stock transfers; safety stock levels; supplier information; customer information; etc.3.3 User Interface DesignA user-friendly interface plays a vital role in ensuring easy adoption and efficient usage of an inventory management system by employees across different departments within an organization.4.Implementation of Inventory Management System4 1 Technology SelectionThe choice of technology stack for implementing an inventory management system depends on various factors such as scalability, security, ease of integration with existing systems, and budget considerations. Some commonly used technologies include Java, .NET, Python, and cloud-based solutions such as Amazon Web Services (AWS) or Microsoft Azure.4.2 System IntegrationIntegration with other enterprise systems such as Enterprise Resource Planning (ERP) systems, Customer RelationshipManagement (CRM) systems, and Point of Sale (POS) systems is crucial for seamless data flow and real-time visibility into inventory levels.4.3 Testing and Quality AssuranceThorough testing of the inventory management system is essential to identify and rectify any bugs or issues before deployment. This includes unit testing, integration testing, system testing, performance testing to ensure the system can handle peak loads efficiently.5. Benefits of Implementing an Inventory Management System5.1 Improved Inventory AccuracyBy implementing an inventory management system that provides real-time visibility into stock levels across multiple locations or warehouses, organizations can ensure accurate inventory records.5.2 Cost ReductionEffective inventory management helps organizations reduce carrying costs associated with excess stock while minimizing stockouts that can lead to lost sales.5.3 Enhanced Customer SatisfactionBy ensuring the availability of products when customers need them through efficient order fulfillment processes enabled by an inventory management system leads to improved customer satisfaction levels.6.ConclusionIn conclusion, a well-designed and implemented inventory management system is essential for organizations to optimizetheir supply chain processes while ensuring customer satisfaction through improved product availability. By considering the various aspects discussed in this paper such as requirements analysis, database design,user interface design,and implementation considerations,it is possible to develop a high-quality inventory management system that meets the specific needs of any organization.。

InventoryManagement仓储管理课件

Begin End order order receipt receipt
Time
•InventoryManagement仓储管理
•12-20
•InventoryManagement仓储管理
•12-3
Inventory and Supply Chain Management
Bullwhip effect
demand information is distorted as it moves away from the end-use customer
▪ Ordering cost
▪ cost of replenishing inventory
▪ Shortage cost
▪ temporary or permanent loss of sales when demand cannot be met
•InventoryManagement仓储管理
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8 16,0200
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4 4,8400
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▪ Demand is known with certainty and is constant over time
▪ No shortages are allowed ▪ Lead time for the receipt of orders is

物流专业英语第四章

Transit inventory
… from the need to transport items or material from one location to another. goods on their way
Speculative inventory投机库存
… is in excess of their current need for a possible future event. 购入超过他们目前实际所需数量的库存来应付未来可能发生的事件。 Such events may include a price increase, a seasonal increase in demand. 例如价格上涨，季节性需求的增加
ALSO INCLUDE:
goods in transit (when volume is
considerable and transport times long) 在途库存 (when it is an integrated part of the main business, such as return paper, plastics or bottles, where volume is considerable) 包装物、废弃物、可循环利用产品
Safety (buffer) inventory
… is held in addition to cycle stock to guard against uncertainty in demand and/or lead time. 为了应对需求和提前期的不确定性而持有的库存。 This occurs because the firm suffers fewer “stock-outs”. 缺货可能性减少。

CH08-Inventory Management

Cycle time
95%
Input Wait for inspection Wait to be moved Move time Wait in queue for operator Setup time
5%
Run time Output
• Anticipation or seasonal inventory • Fluctuation Inventory or Safety stock: buffer demand fluctuations • Lot-size or cycle stock: take advantage of quantity discounts or purchasing efficiencies
• Provide for cost-efficient operations: Buffer stock for smooth production flow Maintain a level work force Allowing longer production runs & quantity discounts • Minimum inventory investments: Inventory turnover Weeks, days, or hours of supply
• Plot the cumulative annual dollar value in inventory versus the cumulative items in inventory • Divides inventory into three classes based on annual dollar volume Class A - high annual dollar volume Class B - medium annual dollar volume Class C - low annual dollar volume

InventoryManagement运营管理英文版

¨Holding, Ordering, and Setup Costs
¨Inventory Models for Independent Demand
¨Basic Economic Order Quantity (EOQ) Model
¨Minimizing Costs
¨Reorder Points Model
¨ABC Analysis ¨Record Accuracy ¨Cycle Counting ¨Control of Services Inventory
Transparency Masters to accompany Operations Management, 5E (Heizer & Render)
Transparency Masters to accompany Operations Management, 5E (Heizer & Render)
12-10
?1998 by Prentice Hall, Inc.
A Simon & Schuster Company Upper Saddle River, N.J. 07458
ABC Analysis
¨Divides on-hand inventory into 3 classes
¨ A class, B class, C class
¨Basis is usually annual $ volume
¨ $ volume = Annual demand x Unit cost
A Simon & Schuster Company Upper Saddle River, N.J. 07458
Outline
¨Global Company Profile: Harley-Davidson ¨Functions of Inventory

《库存管理整理》PPT课件

库一样分摊订货费用(Order cost) 和调整准备费用(Setup cost) 防止短缺防止中断使企业达到经济订货规模避免价格上涨
7
二、库存的作用
弊：
占用资金带来库存成本 (利息、储藏保管费用、保险费用、价值损失费用) 掩盖生产经营中的问题腐烂变质的损失及跌价损失
19
最大最小系统
是一种固定间隔期系统，只不过它需要确定一个订货点s。当经过时间间隔t时，如果库存量降到s及以下，则发出订货；否则，再经过时间t后，再考虑是否发出订货。
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五、对库存管理的要求
库存记录系统
• 周期性系统，一般小杂货店多采用周期系统 • 及时的(连续的)系统,银行的存款和取款，是及时记录库存变化系
11
库存问题的分类（续）
独立需求库存与相关需求库存
• 来自用户的对企业产品和服务的需求称为独立需求。独立需求最明显的特征是需求的对象和数量不确定，只能通过预测方法粗略地估计。
• 企业内部物料转化各环节之间所发生的需求称为相关需求。相关需求也称为非独立需求,它可以按对最终产品的独立需求精确地计算出来
垂直相关水平相关
12
库存问题的分类（续）
独立需求
来自用户对企业产品
和服务的需求
A
相关需求
企业内部物
料转化各环
B(4)
C(2)
节之间所发
生的需求
D(2)

储备管理岗英语

储备管理岗英语Inventory management is a critical function in any organization that deals with the production, distribution, or sale of physical goods. The role of an inventory management professional is to ensure that the right amount of inventory is available at the right time to meet customer demand while minimizing the costs associated with holding excess inventory. This essay will explore the key responsibilities and skills required for an effective inventory management role.One of the primary responsibilities of an inventory management professional is to develop and implement inventory control systems. This involves forecasting demand, determining optimal inventory levels, and establishing procedures for ordering, receiving, and storing inventory. Effective forecasting requires analyzing historical sales data, understanding seasonal trends, and incorporating information about upcoming promotions or new product launches. Based on this analysis, the inventory manager can determine the appropriate safety stock levels to ensure that stockouts are minimized while avoiding the costs of holding excessive inventory.In addition to forecasting and ordering, inventory managers are responsible for monitoring and controlling the flow of goods through the supply chain. This includes tracking inventory levels, identifying and addressing any discrepancies between physical and recorded inventory, and optimizing the storage and handling of goods to minimize damage, spoilage, or obsolescence. Inventory managers must also coordinate with other departments, such as production, purchasing, and sales, to ensure that inventory is aligned with customer demand and production schedules.Another critical aspect of the inventory management role is the implementation and maintenance of inventory management systems. This may involve selecting and configuring software or databases to track inventory levels, monitor stock movements, and generate reports. Inventory managers must also ensure that these systems are integrated with other enterprise systems, such as enterprise resource planning (ERP) or customer relationship management (CRM) platforms, to provide a comprehensive view of the organization's supply chain.Effective inventory management also requires strong analytical and problem-solving skills. Inventory managers must be able to interpret data, identify trends and patterns, and make informed decisions to optimize inventory levels and minimize costs. This may involveconducting ABC analysis to prioritize the management of high-value or high-turnover items, implementing just-in-time (JIT) or lean manufacturing principles to reduce waste, or developing strategies to manage the risks associated with supplier reliability or market volatility.In addition to technical skills, inventory managers must also possess strong communication and interpersonal skills. They must be able to collaborate with cross-functional teams, negotiate with suppliers, and provide clear and concise reports to management. Effective inventory management often requires balancing the needs and priorities of different stakeholders, such as production, sales, and finance, and the inventory manager must be able to navigate these competing interests effectively.Finally, inventory managers must stay up-to-date with industry trends, best practices, and regulatory requirements. This may involve participating in professional development activities, such as attending industry conferences or completing relevant certifications, as well as staying informed about changes in supply chain management, logistics, or inventory control technologies.In conclusion, the role of an inventory management professional is a complex and multifaceted one, requiring a diverse set of technical, analytical, and interpersonal skills. Effective inventory management isessential for ensuring the smooth and efficient flow of goods through the supply chain, and inventory managers play a critical role in optimizing inventory levels, reducing costs, and meeting customer demand. As organizations continue to face increasing pressure to improve supply chain efficiency and responsiveness, the importance of skilled inventory management professionals will only continue to grow.。

保有库存的原因英语作文

保有库存的原因英语作文Title: Reasons for Inventory Management。

Inventory management is a crucial aspect of any business operation, encompassing the processes of purchasing, storing, and utilizing goods to meet customer demand. There are several reasons why businesses choose to maintain inventory, and understanding these reasons is essential for effective management and decision-making. In this essay, we will explore the primary reasons behind inventory management.1. Meeting Customer Demand: One of the foremost reasons for maintaining inventory is to ensure the availability of products to meet customer demand promptly. By keeping a sufficient stock of goods on hand, businesses can avoid stockouts and fulfill customer orders in a timely manner. This is particularly important in industries where demand fluctuations are common or where lead times for production or procurement are lengthy.2. Seasonal Demand Fluctuations: Many businesses experience seasonal variations in demand for their products. For example, retailers often witness increased sales during holiday seasons or specific times of the year. By maintaining inventory, businesses can prepare for these fluctuations and capitalize on peak demand periods without experiencing shortages.3. Economies of Scale: Purchasing inventory in bulk quantities often allows businesses to take advantage of economies of scale, leading to lower per-unit costs. By buying larger quantities of raw materials or finished goods, businesses can negotiate better pricing terms with suppliers, ultimately improving their profit margins.4. Buffer Against Supply Chain Disruptions: In today's globalized economy, supply chain disruptions can occur dueto various factors such as natural disasters, political instability, or unexpected events like the COVID-19 pandemic. Maintaining inventory serves as a buffer against such disruptions, ensuring continuity of operations evenwhen faced with delays or shortages from suppliers.5. Production Efficiency: Inventory management plays a vital role in optimizing production processes. By having the necessary raw materials and components readily available, manufacturers can minimize idle time and maintain a smooth production flow. This leads to higher efficiency and reduced lead times, ultimately enhancing overall productivity.6. Customer Service Levels: Inventory management directly impacts customer satisfaction levels. Businesses that can consistently meet customer demand without delays or stockouts are likely to earn the trust and loyalty of their customers. Maintaining adequate inventory levels is, therefore, essential for enhancing customer service and building a positive brand reputation.7. Risk Mitigation: Inventory management also serves asa risk mitigation strategy for businesses. By diversifying inventory across different products or locations, companies can reduce the impact of unforeseen events such as changesin market demand, shifts in consumer preferences, or disruptions in supply chains.8. Strategic Planning and Decision-Making: Effective inventory management provides valuable data and insights that inform strategic planning and decision-making processes. By analyzing inventory turnover rates, demand patterns, and other key metrics, businesses can identify opportunities for improvement, optimize stocking levels, and allocate resources more efficiently.In conclusion, maintaining inventory is essential for businesses to meet customer demand, manage seasonal fluctuations, achieve economies of scale, mitigate risks, and optimize production processes. By understanding the reasons behind inventory management and implementing effective strategies, businesses can enhance their competitiveness, improve customer satisfaction, and drive sustainable growth in the long term.。

存货管理外文翻译(可编辑)

存货管理外文翻译（可编辑）存货管理外文翻译外文翻译inventory managementMaterial Source: spring link Author: Floyd D. Hedrick“Inventory” to many small business owners is one of the morevisible and tangible aspects of doing business. Raw materials, goods in process and finished goods all represent various forms of inventory. Each type represents money Tied up until the inventory leaves the company as purchased products. Likewise, merchandise stocks in a retail store contribute to profits only when their sale puts money into the cash register. In a literal sense, inventory refers to stocks of anything necessary to do business. These stocks represent a largeportion of the business investment and must be well managed in order to imize profits. In fact, many small businesses cannot absorb the types of losses arising from poor inventory management. Unless inventories are controlled, they are unreliable, inefficient and costly SUCCESSFUL INVENTORY MANAGEMENTSuccessful inventory management involves balancing the costs of inventory with the benefits of inventory. Many small business ownersfail to appreciate fully the true costs of carrying inventory, which include not only direct costs of storage, insurance and taxes, but also the costof money tied up in inventory. This fine line between keeping too much inventory and not enough is not the manager's only concern. Others include: Maintaining a wide assortment of stock -- but not spreading the rapidly moving ones too thin; Increasing inventory turnover -- but not sacrificing the service level; Keeping stock low -- but not sacrificing service or performance. Obtaining lower prices by making volume purchases -- but not ending up with slow-moving inventory; and having an adequate inventory on hand -- but not getting caught with obsolete items The degree of success in addressing these concerns is easier to gaugefor some than for others. For example, computing the inventory turnover ratio is a simple measure of managerial performance. This value gives a rough guideline by which managers can set goals and evaluate performance, but it must be realized that the turnover rate varies with the function of inventory, the type of business and how the ratio is calculated whether on sales or cost of goods sold. Average inventory turnoverratios for individual industries can be obtained from trade associations THE PURCHASING PLANOne of the most important aspects of inventory control is to havethe items in stock at the moment they are needed. This includes goinginto the market to buy the goods early enough to ensure delivery at the proper time. Thus, buying requires advance planning to determine inventory needs for each time period and then making the commitments without procrastination For retailers, planning ahead is very crucial. Sincethey offer new items for sale months before the actual calendar date for the beginning of the new season, it is imperative that buying plans be formulated early enough to allow for intelligent buying without any last minute panic purchases. The main reason for this early offering for sale of new items is that the retailer regards the calendar date for the beginning of the new season as the merchandise date for the end of the old season. For example, many retailers view March 21 as the end of the spring season, June 21 as the end of summer and December 21 as the end of winter Part of your purchasing plan must include accounting for the depletion of the inventory. Before a decision can be made as to thelevel of inventory to order, you must determine how long the inventory you have in stock will last For instance, a retail firm must formulate a plan to ensure the sale of the greatest number of units. Likewise, a manufacturing business must formulate a plan to ensure enough inventory is on hand for production of a finished product In summary, the purchasing plan detail: When commitments should be placed; When thefirst delivery should be received; When the inventory should be peaked; When reorders should no longer be placed; and When the item should no longer be in stock Well planned purchases affect the price, delivery and availability of products for sale CONTROLLING YOUR INVENTORY To maintain an in-stock position of wanted items and to dispose of unwanted items, it is necessary to establish adequate controls over inventory on order and inventory in stock. There are several proven methods for inventory control. They are listed below, from simplest tomost complex. Visual control enables the manager to examine the inventory visually to determine if additional inventory is required. In very small businesses where this method is used, records may not be needed at all or only for slow moving or expensive items. Ticklercontrol enables the manager to physically count a small portion of the inventory each day so that each segment of the inventory is counted every so many days on a regular basis. Click sheet control enables the manager to record the item as it is used on a sheet of paper. Such information is then used for reorder purposes. Stub control used by retailers enables the manager to retain a portion of the price ticket when the item is sold. The manager can then use the stub to record the item that was sold As a business grows, it may find a need for a more sophisticated and technical form of inventory control. Today, the use of computer systems to control inventory is far more feasible for small business than ever before, both through the widespread existence of computer service organizations and the decreasing cost of small-sized computers. Often the justification for such a computer-based system is enhanced by the fact that company accounting and billing procedures can also be handled on the computer Point-of-sale terminals relay information on each item used or sold. The manager receives information printouts at regular intervals for review and actionOff-line point-of-sale terminals relay information directly to the supplier's computer who uses the information to ship additional items automatically to the buyer/inventory manager The final method forinventory control is done by an outside agency. A manufacturer's representative visits the large retailer on a scheduled basis, takes the stock count and writes the reorder. Unwanted merchandise is removed from stock and returned to the manufacturer through a predetermined, authorized procedure A principal goal for many of the methods described above is to determine the minimum possible annual cost of ordering and stocking each item. Two major control values are used: 1 the order quantity, that is, the size and frequency of order; and 2 the reorder point, that is, the minimum stock level at which additional quantities are ordered. The Economic Order Quantity EOQ formula is one widely used method of computing the minimum annual cost for ordering and stocking each item. The EOQ computation takes into account the cost of placing an order, the annual sales rate, the unit cost, and the cost of carrying inventory. Many books on management practices describe the EOQ model in detail DEVELOPMENTS IN INVENTORY MANAGEMENTIn recent years, two approaches have had a major impact on inventory management: Material Requirements Planning MRP and Just-In-Time JIT and Kanban. Their application is primarily within manufacturing but suppliers might find new requirements placed on themand sometimes buyers of manufactured items will experience a difference in delivery Material requirements planning is basically an information system in which sales are converted directly into loads on the facility by sub-unit and time period. Materials are scheduled more closely, thereby reducing inventories, and delivery times become shorterand more predictable. Its primary use is with products composed of many components. MRP systems are practical for smaller firms. The computer system is only one part of the total project which is usually long-term, taking one to three years to develop Just-in-time inventory managementis an approach which works to eliminate inventories rather than optimize them. The inventory of raw materials and work-in-process falls to that needed in a single day. This is accomplished by reducing set-up timesand lead times so that small lots may be ordered. Suppliers may have to make several deliveries a day or move close to the user plants tosupport this plan TIPS FOR BETTER INVENTORY MANAGEMENTAt time of delivery. Verify count -- Make sure you are receiving as many cartons as are listed on the delivery receipt. Carefully examine each carton for visible damage -- If damage is visible, note it on the delivery receipt and have the driver sign your copy. After delivery, immediately open all cartons and inspect for merchandise damage When damage is discovered: Retain damaged items -- All damaged materials must be held at the point received. Call carrier to report damage and request inspection. Confirm call in writing--This is not mandatory but it is one way to protect yourself Carrier inspection of damaged items. Haveall damaged items in the receiving area -- Make certain the damageditems have not moved from the receiving area prior to inspection by carrier. After carrier /inspector prepares damage report, carefully read before signing After inspection: Keep damaged materials? Damaged materials should not be used or disposed of without permission by thecarrier. Do not return damaged items without written authorization from shipper/supplier SPECIAL TIPS FOR MANUFACTURERSIf you are in the business of bidding, specifications play a very important role. In writing specifications, the following elements should be considered. Do not request features or quality that are not necessary for the items' intended use. Include full descriptions of any testing to be performedInclude procedures for adding optional items. Describe the quality of the items in clear terms The following actions can help save money when you are stocking inventory: Substitution of less costly materials without impairing required quality; Improvement in quality or changes in specifications that would lead to savings in process time or other operating savings; Developing new sources of supply; Greater use of bulk shipments; Quantity savings due to large volume, through consideration of economic order quantity; A reduction in unit prices due to negotiations;Initiating make-or-buy studies: Application of new purchasingtechniques; Using competition along with price, service and delivery whenmaking the purchase selection decision.译文存货管理资料来源:spring link作者:Floyd D. Hedrick“存货”对于许多小企业来说是一种更容易看到和有形的资产。

InventoryManagement仓储管理-PPT课件

Lecture Outline
Elements of Inventory Management Inventory Control Systems Economic Order Quantity Models Quantity Discounts Reorder Point Order Quantity for a Periodic Inventory System
12-5
Copyright 2019 John Wiley & Sons, Inc.
Two Forms of Demand
Dependent
Demand for items used to produce final products Tires stored at a Goodyear plant are an example of a dependent demand item
Copyright 2019 John Wiley & Sons, Inc.
12-7
Inventory Costs
Carrying cost
cost of holding an item in inventory
Ordering cost
cost of replenishing inventory
Independent

Demand for items used by external customers Cars, appliances, computers, and houses are examples of independent demand inventory
12-6
Copyright 2019 John Wiley & Sons, Inc.

盘点管理制度英文

盘点管理制度英文Inventory Management System Rules and RegulationsObjective:The objective of the inventory management system is to ensure accurate and timely recording, control, and management of all inventory items within the company. This policy is designed to provide direction and guidance to employees on inventory management processes to promote efficiency, accuracy, and compliance with applicable laws and regulations.Scope:This policy applies to all departments involved in keeping inventory items, including but not limited to procurement, warehouse, finance, and accounting. All inventory items, regardless of their value, type, or quantity, must be managed following this policy.Policy Development Procedure:1. Identify the need for the policy: The management or relevant department identifies the need for an inventory management system policy.2. Draft the policy: The policy is drafted by a designated person or committee based on relevant laws, regulations, and internal policies.3. Approval Process: The policy is reviewed and approved by the management or a designated committee.4. Implementation: The policy is communicated to all relevant departments and employees and implemented according to the set guidelines.5. Review and Update: The policy is reviewed periodically, and necessary updates are made based on the changing business environment or regulations.Policy Guidelines:1. Inventory Management System:The company shall establish and maintain an inventory management system to record, control, and manage all inventory items accurately and timely.2. Inventory Recording:All inventory items shall be recorded accurately in the inventory system, including item name, unit price, quantity, and location.3. Inventory Control:The company shall establish inventory control mechanisms to ensure inventory items are secure, traceable, and in good condition.4. Inventory Counting:The inventory system shall be subjected to periodic counting to verify inventory accuracy. Any discrepancies found shall be investigated and resolved immediately.5. Inventory Movement:The movement of inventory items shall be recorded in the inventory system to ensure traceability and easy retrieval.6. Inventory Disposal:The company shall have a policy and procedure for disposing of obsolete or damaged inventory items. The disposal process must comply with relevant regulations and laws.7. Responsibility:Each department or person involved in inventory management shall be responsible for maintaining inventory accuracy, completeness, and security.8. Documentation:All inventory-related documentation, including purchase orders, shipping documents, and inventory counts, shall be maintained and properly documented. These documents must be available for inspection upon request.9. Violation:Any violation of this policy shall be subject to disciplinary action, including termination of employment. The company reserves the right to seek legal action for any losses or damages incurred as a result of inventory mismanagement.Conclusion:This policy provides clear guidance to employees on inventory management processes to ensure accuracy, efficiency, and compliance with applicable laws and regulations. The management shall ensure that all employees involved in inventorymanagement receive proper training and are well-informed of their responsibilities for effective implementation of this policy.。

存货管理外文文献

What is Inventory Management？什么是库存管理?Effective inventory management is all about knowing what is on hand，where it is in use，and how much finished product results.Inventory management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. This process usually involves controlling the transfer in of units in order to prevent the inventory from becoming too high, or dwindling to levels that could put the operation of the company into jeopardy. Competent inventory management also seeks to control the costs associated with the inventory, both from the perspective of the total value of the goods included and the tax burden generated by the cumulative value of the inventory.Balancing the various tasks of inventory management means paying attention to three key aspects of any inventory。

Inventory Management(仓储管理)

20
6.0 90 11.0 40 A 15.0 130 24.0 60 30.0 B 100 40.0 % 58.0 180 OF TOTபைடு நூலகம்L QUANTITY 71.0 170 C 83.0 50 15.0 100.0 25.0 60 60.0 120
Example 10.1 12-12 12-
Copyright 2006 John Wiley & Sons, Inc.
Copyright 2006 John Wiley & Sons, Inc.
12-9 12-
ABC Classification
Class A
5 – 15 % of units 70 – 80 % of value
Class B
30 % of units 15 % of value
Class C
50 – 60 % of units 5 – 10 % of value
Copyright 2006 John Wiley & Sons, Inc.
12-16 12-
EOQ Cost Model
Deriving Qopt CcQ CoD TC = + Q 2 CoD Cc ∂TC = + Q2 2 ∂Q C0D Cc 0= + Q2 2 Qopt = 2CoD Cc Proving equality of costs at optimal point CoD CcQ = Q 2 Q2 2CoD = Cc 2CoD Cc
Two Forms of Demand
Dependent
Demand for items used to produce final products Tires stored at a Goodyear plant are an example of a dependent demand item

企业库存管理详述(英文版)

企业库存管理详述(英文版)Inventory management is a critical aspect of running a successful business. It involves effectively tracking, controlling, and organizing the inventory within a company. This comprehensive process ensures that the right products are available at the right time, in the right quantity, and at the right location.Effective inventory management helps businesses in multiple ways. First and foremost, it prevents stockouts and overstock situations. Stockouts can hurt customer satisfaction and lead to lost sales opportunities, while overstocking ties up a company's working capital and increases storage and holding costs. By maintaining optimal inventory levels, businesses are better able to meet customer demand while minimizing carrying costs.To achieve efficient inventory management, companies employ various techniques. One common technique is implementing an automated inventory tracking system. This system uses barcode scanning or radio-frequency identification (RFID) technology to accurately record all outgoing and incoming inventory. Real-time data is then accessible through a centralized database, allowing for timely decision-making.Another effective method is forecasting demand based on historical sales data, market trends, and seasonality. By understanding customer demand patterns, businesses can plan their inventory levels accordingly. This helps avoid overstocking during slow periods and stockouts during peak seasons. Additionally, utilizing just-in-time (JIT) inventory management can help reduce storage costs by ordering inventory only when needed.Categorizing inventory is also vital for efficient management. By classifying items based on their demand and profitability, businesses can prioritize their inventory levels and focus on fast-moving, high-margin products. This helps optimize the use of limited storage space and capital investment.Additionally, implementing a robust inventory control policy is crucial. This includes setting reorder points and safety stock levels to ensure timely replenishment. Regular cycle counts and periodic audits help identify any discrepancies between system records and physical stock and enable prompt corrective actions. Proper documentation of inventory transactions is essential to maintaining accurate records and preventing theft or pilferage.Technology plays a vital role in modern inventory management. Software systems with advanced features, such as real-time dashboards and analytical tools, provide businesses with comprehensive insights into their inventory performance. This allows for better inventory planning, optimization, and decision-making.In conclusion, effective inventory management is crucial for businesses to thrive. It involves implementing automated tracking systems, forecasting demand, categorizing inventory, and setting up robust control measures. By employing these strategies and utilizing technology, companies can enhance their inventory management processes, reduce costs, and improve customer satisfaction.在继续讨论相关内容之前，我们可以先详细了解一下为什么有效的库存管理对于企业的成功至关重要。

库存管理的讲义InventoryManagement

2009/10/281Unit 4 & 5Inventory Management(I & II)2009/10/282Outline|Functions of Inventories|Types of Inventory|Cost Elements in Inventory|Economic Order Quantity|continuous review & periodic reviewpolicies|ABC Analysis|Effective Inventory Management2009/10/283Inventory is an important performancemeasure for a supply chain|In 1998, Dell had 10 days of inventoryand Compaq had 100 days.|When the prices of PC dropped,Compaq was hurt the most ………2009/10/284What is Inventory|Inventory are materials and supplies thata business or institution carries either forsales or to provide inputs or supplies tothe production process. All business andinstitutions require inventories.|they are a substantial part of total assets.2009/10/285Inventory Management|Inventory Management is responsible for planning and controlling inventory from raw material stage to the customer. Since inventory either results from production or supports it, the two cannot be managed separately and, therefore, must be coordinated |Inventory must be considered at each of theplanning levels and is thus part of productionplanning, master production scheduling, andmaterial requirement planning.2009/10/286Role of inventory in the supplychain|Stabilizes the production andworkforce|Supply/Demand uncertainty|Material delivery lead time uncertainty|Speculation (value of item expected toincrease in the future)|Economies of scale in purchasing andtransportation2009/10/287Why Inventory ExistsRate of supply from input processInventoryRate of demandfrom output process 2009/10/288Functions of Inventories|Inventory serves as buffer between:z Supply and demandz Customer demand and finished goodsz Finished goods and componentavailabilityz Requirements for an operation and theoutput from the preceding operationz Parts and materials to begin productionand the suppliers of materials2009/10/289Factors affecting inventorylevel|There are many factors affecting theinventory level and hence the inventory costin a Supply Chain, the following are some ofthe most important ones:zService level zDemand and supply variability zLead time and lead time variability zInformation (demand information)z Supply chain cost2009/10/2810Type of Inventory|Anticipation Inventory|Buffer Inventory|Cycle Inventory|Pipeline Inventory2009/10/2811Anticipation Inventory|Anticipation inventories are built up inanticipation of future demand.|For example, they are created ahead of apeak selling season, a promotion program,vacation shutdown, or possibly the threat ofa strike.|They are built up to help level productionand to reduce the costs of changing production rates 2009/10/2812Buffer Inventory (Safety Stock)|Inventory is held to cover randomunpredictable fluctuations in supply anddemand or lead time.|If demand or lead time is greater thanforecast, a stockout will occur.|Safety stock is carried to protect againstthis possibility. Its purpose is to preventdisruptions in manufacturing or deliveries tocustomers.|Safety stock is also called reserve stock.2009/10/2813Cycle Inventory|Cycle inventory occurs becauseone or more stages in the operationcannot supply all the items itproduces simultaneously.2009/10/2814Pipeline Inventory|Pipeline inventory exist because of the timeneeded to move goods from one location toanother such as from a plant to a distributioncentre of a customer.|They are sometimes called TransportationInventory or Movement Inventory.2009/10/2815Objectives of Inventory Management|A firm wishing to maximize profit willhave at least the following objectives:•Maximum customer service•Low-cost plant operation•Minimum inventory investment 2009/10/2816Possible InventoryLocationSuppliers CustomerTotal company InventoryManufacturingDistributionCustomer Delivery Raw Materials Inventory Work-in-process Inventory Finished Product Inventory2009/10/2817Cost Elements in Inventory1.Item cost 2.Carrying costs 3.Ordering costs 4.Stockout costs 5.Capacity-associated costs 2009/10/2818Item Cost|Item cost is the price paid for a purchase item, which consists of the cost of the item and any other direct costs associated in getting the item into the plant. |These could include such things as transportation, custom duties, and insurance. The inclusive cost is often called the landed price .|For an item manufactured in-house, the cost includes direct material, direct labor, and factory overhead . |These costs can usually be obtained from eitherpurchasing or accounting.2009/10/2819Carrying Costs|Carrying Costs include all expenses incurred by the firm because of the volume of inventory carried. |As inventory increase, so do thesecosts. They can be broken downinto three categories:1.Capital costs2.Storage costs3.Risk costs 2009/10/2820Ordering Costs|Every time an order is placed to replenish stock a number of transactions are needed which incur costs to the company. |These include the clerical tasks ofpreparing the order and all thedocumentation associated with it,arranging for the delivery to be made,arranging to pay the supplier for thedelivery, and the general costs ofkeeping all the information whichallows us to do this.2009/10/2821Stockout Costs|If demand during the lead time exceeds forecast, we can expect a stockout. |A stockout can potentially be expensive because of back-order costs, lost sales, and possibly lost customers.|Stockout can be reduced by carrying extra inventory to protect against those times when the demand during lead time is greater than forecast.2009/10/2822Capacity -Associated Costs|When output levels must be changed, there may be costs for overtime, hiring, training, extra shift, and layoffs.|These capacity-associated costs can be avoided by leveling production,that is, by producing items in slack periods for sale in peak periods.|However, this builds inventory in the slack periods.2009/10/2823Cost trade-offs to Be Considered by the Purchasing Executive* The savings associated with volume buying include:Lower per-unit purchasing prices Lower transportation costsLower warehouse handling costs Lower order-processing costsLower production lot quantity costs Lower stockout costsThe costs of carrying inventory include:Capital costs associated with the inventory investment Inventory service costs (insurance and taxes)Storage space costs Inventory risk costs Cost savings associated with volume buying *Inventory carrying costs ±Source: Douglas M. Lambert and Jay U. Sterling, “Measuring Purchasing Performance,”Production and InventoryManagement Review 4, no.6 (June 1984), p. 52. Reprinted with permission from P&IM Review, June 1984. Copyright 1984 by T.D.A. Publications, Inc., Hollywood, FL.2009/10/2824Methods of Accounting for Inventory|First-in, First-out (FIFO)zStock acquired earliest is assumed to be sold first, leaving stock acquired more recently in inventory |Last-in, First-out (LIFO)zSales are made from the most recently acquired stock, leaving items acquired in the earliest time period in inventory|Average CostzEach new purchase is averaged with the remaining inventory to obtain a new average price2009/10/2825Class Exercise2009/10/2826Inventory Cycle ChartPeriods of Time (days)Q u a n t i t y o f I t e m i n S t o c kSafety LevelZero StockOperating LevelPeak inventoryOrder Lead TimeRe-Order CycleReceipt of supplyOrder PointConsumption ReplenishmentAverage Inventory2009/10/2827Economic Order Quantity Method|The EOQ method is an attempt to estimate the best order quantity by balancing the conflicting cost of holding stock and of placing replenishment orders|The large order quantity gives a much higher average stock level , and the small order quantity gives a lower average stock level |The small order quantity must bereplenished by placing many more orders than the large order quantity2009/10/2828Economic Order Quantity MethodAssumptions1.Demand is relatively constant and is known.2.The item is produced in lots or batches and not continuously3.Order preparation and inventory-carrying costs are constant and known.4.Replacement occurs all at once.2009/10/2829The Economic Order QuantityI n v e n t o r y L e v e lTimeDemand (D) = 1000 items per yearPlan A Q = 400Plan B Q = 100Average Inventory for Plan A = 200Average Inventory For Plan B = 500.1 Year0.4 Year2009/10/2830The Economic Order Quantity (2)|Average Inventory = Order Quantity/2zPlan A = 200z Plan B = 50|Number of Orders per year = Annual Demand/Order QuantityzPlan A = 1000/400 = 2.5z Plan B = 1000/100 = 10|Annual Cost of Placing Orders |Annual Cost of Carrying Inventory2009/10/2831The Economic Order Quantity (3)D =Annual Usage in Units (1000)S =Ordering Cost in Dollars Per Order ($20)i =Annual Carrying Cost rate as a % (50%)c =Unit Cost in Dollars ($2)Q=Order Quantity in Units (400, 100)|Annual Cost of Placing Ordersz Plan A (2.5 x 20 = $50)zPlan B (10 x 20 = $200)|Annual Cost of Carrying Inventoryz Plan A (400/2 x $2 x 50% = $200)zPlan B (100/2 x $2 x 50% = $50)2009/10/2832Cost & Ordered Quantity Trade-offTotal CostsCarrying CostsProcurement (ordering cost) & Out-of-stock CostsEOQQuantity OrderedT o t a l R e l e v a n t C o s t s2009/10/2833|The optimum quantity for inventory procurement when procurement cost equals to carry costEconomic Order Quantity2DS ICEOQ =D = Annual Usage in UnitsS = Ordering Cost in Dollars Per OrderI = Annual Carrying Cost rate as a % C = Unit Cost in Dollars Q = Order Quantity in Units2009/10/2834Example of EOQAnnual Demand (D): 1000 units Ordering Cost (S):$20Carrying Cost Rate (i):50%Unit Cost in $ (c):$2Q = 2(1000)(20)$2 x 0.5= 400001EOQ = 200 units2009/10/2835Example Problem|An item has an annual demand of 5000 units, Ordering costs are $20 per order, and the cost of carrying inventory is 20%. The cost per unit is $5.|What is:z D = z S = z c = zi = |Then :zEOQ =2009/10/2836Example Problem|An item has an annual demand of 5000 units, Ordering costs are $20 per order, and the cost of carrying inventory is 20%. The cost per unit is $5.|What is:z D = 5000 units z S = $20z c = $5zi = 0.2|Then :zEOQ = 2 x 5000 x 205 x 0.2= 447.21 or 448 units2009/10/2837Class exercise2009/10/2838Fixed order quantity system|Perpetual inventory system|Event triggered: Initiates order when stock depleted to a specific level.zReorder point|Inventory replaced in fixed amountszEconomic order quantities|Issues: visual signals, IT applications2009/10/2839Fixed Order Quantity Systemlead time (L)ROPcycle stockINVENTORYTIMEROP = Lead time demand2009/10/2840Safety Stock|Safety stock is held because of uncertainty in supply and/or demand|The trade-off is the cost of stocking out versus the cost of holding inventory|Safety stock levels can be calculated using statistical techniques.z e.g., Take into account standard deviation of demand2009/10/2841Fixed Order Quantity System:Cycle Stock, Safety Stock and Lead Timelead timeROPcycle stock (Q)INVENTORYTIMESafety Stock2009/10/2842Fixed time period systems|Inventory on-hand counted at specific time intervals and replenished to a desired level|Only the passage of time triggers the model2009/10/2843Fixed Time Period System :Cycle Stock, Safety Stock and Lead TimeINVENTORYTIMESafety Stockreview periodlead timeQ2009/10/2844Replenishment Policies|When to reorder?|How much to reorder?|Continuous Review : order fixed quantity when total inventory drops below reorder point (ROP)|Periodic review : order at fixed time intervals to raise total inventory to order up to level (OUL)2009/10/2845Inventory systems|Continuous Review system:zsystem that keeps track of removals from inventory continuously, thusmonitoring current levels of each item. z When stock level reaches a certain level (ROP), an order of fixed quantity (EOQ) is placed2009/10/2846Inventory systems|Periodic review system:zOrders are placed at fixed review period (RP) intervals.z The order quantity varies and is calculated to meet somepredetermined target inventory level (TIL)2009/10/2847Comparing continuous review & periodic review policies|Factors driving safety inventory in periodic review policyz Demand uncertaintyz Replenishment lead time z Service level zReorder interval|Periodic review policy is easier and cheaper to implement|Periodic review policy requires more safety inventory than continuous review policy for the same lead time and service level2009/10/2848Inventory Priorities –ABC SystemPercentage Percentage value of itemsof annual usage Class A items About 20%About 80%Class B items About 30%About 15%Class C itemsAbout 50%About 5%2009/10/2849Classifying Inventory|ABC Analysis based on Pareto ’s Law –the “80 –20 Rule ”.|Decision steps in applying ABC Analysis:zSelect criterion appropriate for inventory under consideration eg sales revenue z Rank items in descending order of importancez Calculate actual and cumulative total sales revenuez Assign items into ABC groups 2009/10/2850Product Classification Analysis (ABC)Product Number Sales (000)Percent of Sales CumulatoveSales PercentCumulatirveProducts PercentCategory145,00030.030.05A 235,00023.353.310A 325,00016.770.015A 415,00010.080.020A 58,000 5.385.325B 65,000 3.388.730B 74,000 2.791.335B 83,000 2.093.340B 92,000 1.394.745B 101,0000.795.350B 111,0000.796.055C 121,0000.796.760C 202500.2100.00100C2009/10/2851A Typical Pareto Curve with ABC AnalysisS a l e s V a l u eNumber of Products20%50%100%80%95%100%Class CClass BClass A2009/10/2852Steps in Making an ABC Analysis1.Establish the item characteristics that influence the results of inventory management. This is usually annual dollar usage but may be other criteria, such as scarcity of material.2.Classify items into groups based on the established criteria.3.Apply a degree of control in proportion to the importance of the group.2009/10/2853Control Based on ABC Classification|Different controls used with different classifications might be the following:z A items: high priority.•Tight control including complete accurate records, regular and frequent review by management, frequent review of demand forecasts, and close follow-up and expediting to reduce lead timezB items: medium priority.•Normal controls with good records, regular attention, and normal processing.zC items: lowest priority.•Simplest possible controls –make sure there are plenty.•Simple or no records; perhaps use a two-bin system or periodic review system.•Order large quantities and carry safety stock .2009/10/2854ABC AnalysisA Items|Very tight control|Order only calculated or know requirement |Accurate recording of receipts and issues |Schedules constantly reviewed |Continuous progressing|Minimal buffer stocks (probably less than 2 weeks)2009/10/2855B Items|Moderate level of control|Order against forecast from historical data |Recording of all receipts and issues |Moderate level of review of schedules |Progress items in short supply or late |Larger buffer stocks (6 –8 weeks)ABC Analysis (Cont)2009/10/2856ABC Analysis ( Cont )C Items|Lower level of control|Minimal recording of receipts/issues |Low level of schedule review |No progressing|Large safety stocks (12 weeks)2009/10/2857Class Exercise2009/10/2858Symptoms of Poor Inventory|Increasing numbers of back orders|Increasing dollar investment in inventory with back orders remaining constant.|High customer turnover rate.|Increasing number of orders being cancelled.|Periodic lack of sufficient storage space.|Wide variance in inventory turnover among distribution centers and major inventory items.Effective Inventory Management|Traditional method –adequate safetystock of inventory|Contemporary method –adoption of VMI & ECR|EIM depends highly on IT communicationnetwork require information sharingbetween suppliers and customers shiftingresponsibility for managing andreplenishing inventory to vendor2009/10/28 59。