Quantity and Inventory

Quantity and Inventory

1. Quantity and Timing Issues

   • Factors
     • Forecasts, Costs, Availability, Price-Volume, Shortage
   • Quantity and Delivery
     • Every supplier performance evaluation scheme includes quantity and delivery as standard evaluation criteria
   • Time-Based Strategies

2. Forecasting

   • how much, when, how
   • affects both quantity and delivery
   • Forecasting Techniques
     • Quantitative Forecasting
     • Qualitative Forecasting
   • Collaborative Planning, Forecasting, and Replenishment (CPFR
     • To exchange knowledge and share risks to generate the most accurate forecast possible and develop effective replenishment plans.

3. Determining Order Quantities and Inventory Levels

   • Dependent demand and Independent demand
   • Fixed-Quantity Models
   • Fixed-Period Models
   • Probabilistic Models and Service Coverage
   • Buffer or Safety Stocks and Service Levels

4. Planning Requirements and Resources

   • Material Requirements Planning (MRP)
     • To support the activities of manufacturing, maintenance, or use by meeting the needs of the master schedule.
       • MRP Inputs
         • Master production schedule
         • Structured bill of materials (BOM)
         • Inventory record
       • MRP Lot Sizing
   • Capacity Requirements Planning (CRP)
   • Manufacturing Resource Planning (MRP II)
   • Enterprise Resource Planning (ERP) Systems
   • Supply Implications of MRP

5. Functions and Forms of Inventories

   • The Functions of Inventory
   • The Forms of Inventory
   • Inventory Function and Form Framework

6. Inventory Management

   • Costs of Inventories
   • ABC Classification
   • Vendor- or Supplier-Managed Inventory (VMI/SMI)
   • Lean Supply, Just-in-Time (JIT), and Kanban Systems
   • Managing Supply Chain Inventories

7. Determining Quantity of Services

   • Aggregating Demand
   • Managing Consumption
   • Dimensions of Services and Quantity Decisions

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