Principles of Inventory and Materials ManagementThis text/reference addresses the unprecedented changes occurring in manufacturing that are being brought about by quality management philosophy -- lower inventory, reduced lead-time, preventive maintenance, and increased emphasis on customer satisfaction. Combining theory and practice, it presents alternative systems (models) for managing materials (inventory) -- their use, transformation, distribution, and sale -- and their flow to, within, and from the organization. Covers forecasting and marketing analysis; independent demand systems (deterministic models/probabilistic models); discrete demand systems (deterministic models/materials requirements planning - MRP); inventory system changes and limitations; single order quantities; in-process inventory, just-in-time, and theory of constraints; distribution inventory systems; inventory valuation and measurement; simulation; and aggregate inventory control. Content progresses from simple systems to more complex models; numerous examples of solved problems and short case studies explore a variety of situations and organizational settings; and appendices provide additional extensions and supporting logic on particular topics. For practitioners and advanced students involved in operations, inventory control, production control, and physical supply in manufacturing. |
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analysis annual demand capacity centers components cost per unit day 1 demand day second day day third day demand in units dependent demand determine economic order quantity economic production quantity end item EWMA EXAMPLE expected exponential smoothing function Gross requirements holding cost fraction indicate inventory control inventory system lead time demand level fraction linear regression lost sales lot sizes manufacturing material requirements planning materials management maximum inventory level method minimum moving average MRP system normal distribution obtained operating optimal optimum order cost order cycle order size system organization parameters perpetual inventory Planned order releases Poisson distribution purchase cost quantity discounts random regression regression analysis reorder point replenishment safety stock seasonal second day third service level simulation smoothing constant special order standard deviation stock levels stockout cost supplier supply Table total annual cost total cost trend unit cost zero ΣΥ