Introduction to Inventory Management
Understand the different types of inventory management systems such as Reorder Point, MRP, Two-Bin and Just-In-Time and their applications in business.
Test Your Knowledge
Handouts
Powerpoint Materials
Module Overview
Inventory Management Introduction
DEFINITION OF TERMS - Overview of Inventory Management Systems and Inventories
Basic Types of Inventory Management Systems
Types of Inventories
SECTION REVIEW: Inventories and Inventory Management Systems
DEFINITION OF TERMS - Considerations in Inventory Management
Re-order Point System
Material Requirements Planning
SECTION REVIEW: Re-order Point System and Material Requirements Planning
Two-Bin System
Application in the Home
Just in Time
SECTION REVIEW: Two-Bin System and Just-in-Time System
DEFINITION OF TERMS - Overstocking, Understocking, Stockouts and Receiving
Causes of Overstocking
Causes of Understocking and Stockout
SECTION REVIEW: Causes of Overstocking, Understocking and Stockout
Causes of Discrepancies
Minimizing or Eliminating Discrepancies
Receiving Function
SECTION REVIEW: Discrepancies and Receiving Function
List of Scenarios
SCENARIO 1
SCENARIO 1 - Questions
SCENARIO 2
SCENARIO 2 - Questions
SCENARIO 3
SCENARIO 3 - Questions
CASE STUDY: TOYOTA’s Just-in-Time System
CASE STUDY: Questions
Key Points
Inventory Management Quiz
Silvino de Guzman