Inventory Management Concepts

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=== Part number ===
=== Part number ===
A '''part number''' is a unique identifier of a part used in a particular industry. Its purpose is to simplify referencing to that part. A part number unambiguously defines a part within a single manufacturer. See http://en.wikipedia.org/wiki/Part_number
A '''part number''' is a unique identifier of a part used in a particular industry. Its purpose is to simplify referencing to that part. A part number unambiguously defines a part within a single manufacturer. See http://en.wikipedia.org/wiki/Part_number
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=== Build to stock ===
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http://en.wikipedia.org/wiki/Build_to_stock
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=== Build to order ===
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http://en.wikipedia.org/wiki/Build_to_order
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=== Typology ===
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* '''Buffer/safety stock'''
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* '''Cycle stock''' (Used in batch processes, it is the available inventory excluding buffer stock)
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* '''De-coupling''' (Buffer stock that is held by both the supplier and the user)
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* '''Anticipation stock''' (building up extra stock for periods of increased demand - e.g. ice cream for  summer)
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* '''Pipeline stock''' (goods still in transit or in the process of distribution - have left the factory but not arrived at the customer yet)
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** work in process stock
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** '''in transit stock'''
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=== Types of goods ===
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* Raw materials - materials and components scheduled for use in making a product.
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* Work in process, WIP - materials and components that have begun their transformation to finished goods.
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* Finished goods - goods ready for sale to customers.
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* Goods for resale - returned goods that are salable.
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=== SKU categorizing schemes ===
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* ABC
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* FSN
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* VED
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see [[#Janat]]
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=== Stock points ===
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Locations where stock could be stored.
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=== Vendor ===
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A '''vendor''', or a supplier, is a supply chain management term meaning anyone who provides goods or services to a company. A vendor often manufactures inventoriable items, and sells those items to a customer.
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http://en.wikipedia.org/wiki/Vendor_(supply_chain)
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=== Service level ===
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see [[#Janat]]
=== VMI ===
=== VMI ===
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== Related books ==
== Related books ==
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=== Janat ===
* Supply Chain Management: Text and Cases By Janat Shah (http://books.google.com)
* Supply Chain Management: Text and Cases By Janat Shah (http://books.google.com)
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See Managing Material Flow in Supply...  chapter
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http://books.google.com/books?id=wBjyApjS5R0C&printsec=frontcover&dq=supply+chain+management+shah&lr=&cd=2#v=onepage&q&f=false

Current revision as of 00:09, 27 May 2010


Contents

[edit] Glossary

[edit] Inventory

Inventory is a list for goods and materials, or those goods and materials themselves, held available in stock by a business.

[edit] Inventory Management Application

Inventory management applications has become a valuable tool for organizations looking to more efficiently manage stock. While the capabilities of applications vary, most inventory management applications give organizations a structured method of accounting for all incoming and outgoing inventory within their facilities. Organizations save a significant amount in costs associated with manual inventory counts, administrative errors and reductions in inventory stock-outs.

[edit] SKU

Stock Keeping Unit (SKU) is a unique combination of all the components that are assembled into the purchasable item. Therefore any change in the packaging or product is a new SKU. This level of detailed specification assists in managing inventory. See http://en.wikipedia.org/wiki/Stock_Keeping_Unit

[edit] Part number

A part number is a unique identifier of a part used in a particular industry. Its purpose is to simplify referencing to that part. A part number unambiguously defines a part within a single manufacturer. See http://en.wikipedia.org/wiki/Part_number

[edit] Build to stock

http://en.wikipedia.org/wiki/Build_to_stock

[edit] Build to order

http://en.wikipedia.org/wiki/Build_to_order

[edit] Typology

  • Buffer/safety stock
  • Cycle stock (Used in batch processes, it is the available inventory excluding buffer stock)
  • De-coupling (Buffer stock that is held by both the supplier and the user)
  • Anticipation stock (building up extra stock for periods of increased demand - e.g. ice cream for summer)
  • Pipeline stock (goods still in transit or in the process of distribution - have left the factory but not arrived at the customer yet)
    • work in process stock
    • in transit stock

[edit] Types of goods

  • Raw materials - materials and components scheduled for use in making a product.
  • Work in process, WIP - materials and components that have begun their transformation to finished goods.
  • Finished goods - goods ready for sale to customers.
  • Goods for resale - returned goods that are salable.

[edit] SKU categorizing schemes

  • ABC
  • FSN
  • VED

see #Janat

[edit] Stock points

Locations where stock could be stored.

[edit] Vendor

A vendor, or a supplier, is a supply chain management term meaning anyone who provides goods or services to a company. A vendor often manufactures inventoriable items, and sells those items to a customer.

http://en.wikipedia.org/wiki/Vendor_(supply_chain)

[edit] Service level

see #Janat

[edit] VMI

VMI - Vendor-managed inventory. See also http://en.wikipedia.org/wiki/Vendor-managed_inventory.

[edit] Related wiki articles

[edit] Related books

[edit] Janat

See Managing Material Flow in Supply... chapter

http://books.google.com/books?id=wBjyApjS5R0C&printsec=frontcover&dq=supply+chain+management+shah&lr=&cd=2#v=onepage&q&f=false

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