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    Muhammad Aliff Rusli
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    Explaining the details relating to Quantitative Methods

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    Explaining the details relating to Quantitative Methods

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    15 views2 pages

    Inventory Control

    Uploaded by

    Muhammad Aliff Rusli
    Explaining the details relating to Quantitative Methods

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    Download as pdf
    of 2
    Attributes of inventory control Teventory conto involves the aden, sorage and delivery of «cage of goals or sen, The pe of sock being ld wl include ray mater, wosk in owes bd Fished good The primary reson or holding stock at follows: ‘omsing sok avaible, Holding investry ensures that demand ean be sisted inmedy. The tac acta bller asin aboormaly hgh sap and Hots 0 ‘Spl. Tha ithe sexcesve demand oan ened delays eves, te in [Sok vl bp owty mo ofthe requremens,Furtktmnor, desing sock sted, ‘Bee Sold be no delay bere he cured and devery of ode, Teonomic quanti In order to produce or onder tems i the most economic ‘ian ns unl asenr fo store te tha are aoe sede requed, The [rodction or ordering of gle ems as required may im peactce aot bean option [rau af the exes conte invoved. Often, counts canbe obtained whet bulk edt ae requ and these wl ee ockbolding face when cred Rect eachaigaes such a artintime TT) methods have ben developed to avoid holding lee amounts of xc, Tew ppcoshe willbe cbse Ie inh bape weve any examples the holding of limited amount of tc ementaland the bac techaiques for tung that hs paces is coneffectve ml Be meted in he allowing eco. : Iaveoory onl tengo cn si in anwerng he ollowing questions: {) When shoud new stock be ordered? aad () How mapy tems shold be ordered? In order to ansmer questions ofthis ype, range of jaentory contol mod Seen deveoped The waadard inventory conte ode Sectibed i ES woes tame Kecwlege of umber of subutes incadig the folowing Demand, The eequieneats of customers may, ia practice, be dict to existe ‘np model astre thatthe demand is coosant thowgh in gene, pobati ‘crmats of demand may need tobe ase. The demand fr some es ay depend oa Ser for other goods For example, the demande for component at CNG ate Stele. Each tol of cr rogues 2 fined range of fem Terefore,# and ‘or ope sock tam wil automatically corespnd t require for 3 rage othe ‘seme. Convery he demand of pee may pele other tom he age For stance the requsonent of a Z-ire engine exchdey any ober engine tps for 2 parcaar vehi, and alo defies a ange of asoeated ponents ‘Lead ime The ine ken for the supper odes the oot folowing placemec of ‘order ir alle he le ie. For itane, the ln sr for tome ee fd oer by Lilowoods two mecks. Of, th me ant anne For isis + ple ‘ry prom fo dlver waa pve Se peo eg thee dey from rina he ‘re Tin pratt end ne sy be sy we ee dye Schou A sockot occrs when demand excseds the avaible stock, a this ston the demands of etme cannot be immediatly etd. Sekt are {Peted in dferet ways, depeadag onthe aplication. For Camplin seme ciel [Grumtoes rockout at singly aot alowed. For intaace, in 4 prodaton freeones, 4 ockost on ay coe of «sumer of importants wl ee in foul woppae, This would prove to be inetiene and tally sceopable mort prodecson entrants, Otber stockout wil rela semen low of ale For lavance in the Liewoods shop ia requet fra presen tem canoe be met, ‘hon the cuomer uly ogo eewhese Alienate, a sockow may singly ele ‘nda in the dlvery of he sto requis Holding cons. Cons involved in the storage of goods ince he cos of satin, renal igng and hes of rage facts Sach costs can fea be sted in os ff tbe opr tem of goods over a given tine period. For inva it eit at i cuts $1 per week for eathgeatox hap ig store at CMG. Other facore rh a epitome incorporated ia the etiton of boing ots Ordering cons. These costs ace she cons of placing an onde for goods and ae

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