Inventory Management Overview ..............................................................................................
Session Learning Objectives ......................................................................................................
Inventory Definitions ..................................................................................................................
Functions of inventory ................................................................................................................
Strategic Inventory Management Process ...............................................................................
Characteristics of inventory in the Distribution Channel .........................................................
Channel Inventory and Demand Flows .....................................................................................
Inventory Replenishment Components.....................................................................................
Ordering Techniques – When to Order .....................................................................................
Order Point – Basic Model and Order Point Trigger.................................................................
Order Point – Potential of Demand Variation and Safety Stock..............................................
Calculating the Safety Stock ......................................................................................................
Determining the Order Quantity ................................................................................................
Order and Inventory Carrying Cost Components......................................................................
Determining the Optimal Order Quantity ..................................................................................
EOQ Calculation ..........................................................................................................................
Maximum and Minimum Ordering .............................................................................................
Replenishment Planning Process ..............................................................................................
Review, Terms, Discussion Questions, Exercises.....................................................................
Terms Check ...............................................................................................................................
Performance Check – Answers and Test Documents..............................................................
Discussion Questions .................................................................................................................
Case Study ..................................................................................................................................
Suggested Additional Readings .................................................................................................