6.inventory 库存管理
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Purchase Order Description Qty. Microwave 1000
Purchase Order Purchase Order Purchase DescriptionOrderQty. Purchase OrderQty. Description Qty. Description Qty. 1 Microwave Description Microwave 1 Microwave Microwave 11
Order quantity
Order quantity
LG3
Holding Costs
Category Housing costs (building rent or depreciation, operating costs, taxes, insurance) Material handling costs (equipment lease or depreciation, power, operating cost) Labor cost Investment costs (borrowing costs, taxes, and insurance on inventory) Pilferage Overall carrying cost
Cost (and range) as a Percent of Inventory Value
6% (3 - 10%) 3% (1 - 3.5%) 3% (3 - 5%) 11% (6 - 24%) 3% (2 - 5%) 26%
LG3
Holding Costs
Category Housing costs (building rent or depreciation, operating costs, taxes, insurance) Material handling costs (equipment lease or depreciation, power, operating cost) Labor cost Investment costs (borrowing costs, taxes, and insurance on inventory) Pilferage Overall carrying cost
LG4
D The EOQ Modelordering cost = Q S Annual Annual holding cost =
Q Q* D S H
= Number of pieces per order = Optimal number of pieces per order (EOQ) = Annual demand in units for the inventory item = Setup or ordering cost for each order = Holding or carrying cost per unit per year
Outline
LG1 What is inventory and types of inventory
LG2
LG3 LG4 LG5
Functions of inventory
Costs Associated with inventory Inventory methods Technologies in inventory management
LG2
Functions of Inventory (Cont‟d)
3. To take advantage of quantity discounts.
Suppliers may give discounts on large orders.
LG2
Outline
LG1 LG2 What is inventory and types of inventory Functions of inventory
Functions of Inventory (Cont‟d)
2 . To hedge against price increases.
Occasionally a firm will suspect that a substantial price increase is about to occur and purchase large-than-normal amounts to beat the increase.
LG1
Inventory is one of the most expensive assets of many companies representing as much as 50% of total invested capital
• Operations managers must balance inventory investment and customer service
LG3
LG4 LG5
Costs Associated with inventory
Inventory methods Technologies in inventory management
Disadvantages of Inventory
LG3
Higher costs
Costs Associated with Goods for Sale
Order quantity
“How much” to order
LG4
There is a trade-off between lot size and inventory level. – Frequent orders (small lot size): higher ordering cost and lower holding cost. – Fewer orders (large lot size): lower ordering cost and higher holding cost.
Why Holding Costs Increase
LG3
More units must be stored if more are ordered
Purchase Order Description Qty. Microwave 1
Purchase Order Description Qty. Microwave 1000
1. Holding costs include the costs
associated with storage. Such as extra staff and insurance.
LG3
2. Ordering costs include associated with
costs of placing order, receiving and inspecting the items in the orders.
LG4
D Annual The EOQ Modelordering cost = QS
Q Q* D S H
= Number of pieces per order = Optimal number of pieces per order (EOQ) = Annual demand in units for the inventory item = Setup or ordering cost for each order = Holding or carrying cost per unit per year
Inventory Usage Over Time
Usage rate
LG4
Inventory level
Order quantity = Q (maximum inventory level) Minimum inventory
Average inventory on hand Q 2
0
Time
Types of Inventory
Inputs • Raw Materials • Purchased parts
LG1
Process
Outputs • Finished Goods
(in warehouses, or “in transit”)
In Process
(in warehouses, or “in transit”)
LG3
“How much” to order
LG4
Economic Order Quantity model
Important assumptions
1. Demand is known and constant. 2. Receipt of inventory is instantaneous and complete 3. Quantity discounts are not possible 4. Only variable costs are ordering and holding
ቤተ መጻሕፍቲ ባይዱ
Types of Inventories
LG1
Raw materials
Partially completed goods called
work in process (WIP)
–
Finished-goods inventories
(manufacturing firms) or merchandise (retail stores)
• Partially Completed Products
(often on the factory floor)
Types of Inventory
LG1
Work in process
Vendors
Raw Materials
Work in process
Work in process
Finished Customer goods
LG3
Why Order Costs Decrease
LG3
Cost is spread over more units
1000 Orders (Postage $330)
Example: You need 1000 microwave ovens
1 Order (Postage $ 0.33)
Cost (and range) as a Percent of Inventory Value
6% (3 - 10%) 3% (1 - 3.5%) 3% (3 - 5%) 11% (6 - 24%) 3% (2 - 5%) 26%
Ordering Costs
Forms Order processing Clerical support Etc.
INVENTORY MANAGEMENT
Prepared by Youji
National Institute of Technology
Outline
LG1 What is inventory and types of inventory
LG2 LG3 LG4 LG5
Functions of inventory Costs Associated with inventory Inventory methods Technologies in inventory management
Inventory Definition
LG1
A stock of items held to meet future demand.
Question: inventory relate to…
What is Inventory?
LG1
Stock of materials
Examples
Functions of Inventory
1.
LG2
To meet customer demand. These inventories are
referred to as anticipation stocks because they held to satisfy ( i.e., average ) demand. For example: a customer can be a person who walks in off the street to buy a laptop.
Annual ordering cost =(Number of orders placed per year) x (Setup or order cost per order)
Annual demand Setup or order = Number of units in each order cost per order = D (S) Q
Purchase Order Purchase Order Purchase DescriptionOrderQty. Purchase OrderQty. Description Qty. Description Qty. 1 Microwave Description Microwave 1 Microwave Microwave 11
Order quantity
Order quantity
LG3
Holding Costs
Category Housing costs (building rent or depreciation, operating costs, taxes, insurance) Material handling costs (equipment lease or depreciation, power, operating cost) Labor cost Investment costs (borrowing costs, taxes, and insurance on inventory) Pilferage Overall carrying cost
Cost (and range) as a Percent of Inventory Value
6% (3 - 10%) 3% (1 - 3.5%) 3% (3 - 5%) 11% (6 - 24%) 3% (2 - 5%) 26%
LG3
Holding Costs
Category Housing costs (building rent or depreciation, operating costs, taxes, insurance) Material handling costs (equipment lease or depreciation, power, operating cost) Labor cost Investment costs (borrowing costs, taxes, and insurance on inventory) Pilferage Overall carrying cost
LG4
D The EOQ Modelordering cost = Q S Annual Annual holding cost =
Q Q* D S H
= Number of pieces per order = Optimal number of pieces per order (EOQ) = Annual demand in units for the inventory item = Setup or ordering cost for each order = Holding or carrying cost per unit per year
Outline
LG1 What is inventory and types of inventory
LG2
LG3 LG4 LG5
Functions of inventory
Costs Associated with inventory Inventory methods Technologies in inventory management
LG2
Functions of Inventory (Cont‟d)
3. To take advantage of quantity discounts.
Suppliers may give discounts on large orders.
LG2
Outline
LG1 LG2 What is inventory and types of inventory Functions of inventory
Functions of Inventory (Cont‟d)
2 . To hedge against price increases.
Occasionally a firm will suspect that a substantial price increase is about to occur and purchase large-than-normal amounts to beat the increase.
LG1
Inventory is one of the most expensive assets of many companies representing as much as 50% of total invested capital
• Operations managers must balance inventory investment and customer service
LG3
LG4 LG5
Costs Associated with inventory
Inventory methods Technologies in inventory management
Disadvantages of Inventory
LG3
Higher costs
Costs Associated with Goods for Sale
Order quantity
“How much” to order
LG4
There is a trade-off between lot size and inventory level. – Frequent orders (small lot size): higher ordering cost and lower holding cost. – Fewer orders (large lot size): lower ordering cost and higher holding cost.
Why Holding Costs Increase
LG3
More units must be stored if more are ordered
Purchase Order Description Qty. Microwave 1
Purchase Order Description Qty. Microwave 1000
1. Holding costs include the costs
associated with storage. Such as extra staff and insurance.
LG3
2. Ordering costs include associated with
costs of placing order, receiving and inspecting the items in the orders.
LG4
D Annual The EOQ Modelordering cost = QS
Q Q* D S H
= Number of pieces per order = Optimal number of pieces per order (EOQ) = Annual demand in units for the inventory item = Setup or ordering cost for each order = Holding or carrying cost per unit per year
Inventory Usage Over Time
Usage rate
LG4
Inventory level
Order quantity = Q (maximum inventory level) Minimum inventory
Average inventory on hand Q 2
0
Time
Types of Inventory
Inputs • Raw Materials • Purchased parts
LG1
Process
Outputs • Finished Goods
(in warehouses, or “in transit”)
In Process
(in warehouses, or “in transit”)
LG3
“How much” to order
LG4
Economic Order Quantity model
Important assumptions
1. Demand is known and constant. 2. Receipt of inventory is instantaneous and complete 3. Quantity discounts are not possible 4. Only variable costs are ordering and holding
ቤተ መጻሕፍቲ ባይዱ
Types of Inventories
LG1
Raw materials
Partially completed goods called
work in process (WIP)
–
Finished-goods inventories
(manufacturing firms) or merchandise (retail stores)
• Partially Completed Products
(often on the factory floor)
Types of Inventory
LG1
Work in process
Vendors
Raw Materials
Work in process
Work in process
Finished Customer goods
LG3
Why Order Costs Decrease
LG3
Cost is spread over more units
1000 Orders (Postage $330)
Example: You need 1000 microwave ovens
1 Order (Postage $ 0.33)
Cost (and range) as a Percent of Inventory Value
6% (3 - 10%) 3% (1 - 3.5%) 3% (3 - 5%) 11% (6 - 24%) 3% (2 - 5%) 26%
Ordering Costs
Forms Order processing Clerical support Etc.
INVENTORY MANAGEMENT
Prepared by Youji
National Institute of Technology
Outline
LG1 What is inventory and types of inventory
LG2 LG3 LG4 LG5
Functions of inventory Costs Associated with inventory Inventory methods Technologies in inventory management
Inventory Definition
LG1
A stock of items held to meet future demand.
Question: inventory relate to…
What is Inventory?
LG1
Stock of materials
Examples
Functions of Inventory
1.
LG2
To meet customer demand. These inventories are
referred to as anticipation stocks because they held to satisfy ( i.e., average ) demand. For example: a customer can be a person who walks in off the street to buy a laptop.
Annual ordering cost =(Number of orders placed per year) x (Setup or order cost per order)
Annual demand Setup or order = Number of units in each order cost per order = D (S) Q