Inventory Management Concepts
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=== Typology === | === Typology === | ||
| - | * Buffer/safety stock | + | * '''Buffer/safety stock''' |
| - | * Cycle stock (Used in batch processes, it is the available inventory excluding buffer 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) | + | * '''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) | + | * '''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) | + | * '''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''' | ||
=== Types of goods === | === Types of goods === | ||
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Locations where stock could be stored. | Locations where stock could be stored. | ||
| + | |||
| + | === 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) | ||
| + | |||
| + | === Service level === | ||
| + | |||
| + | see [[#Janat]] | ||
=== VMI === | === VMI === | ||
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=== Janat === | === 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) | ||
| + | |||
| + | 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 | ||
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
- http://en.wikipedia.org/wiki/Stock_management
- http://en.wikipedia.org/wiki/Inventory
- http://en.wikipedia.org/wiki/Vendor-managed_inventory
[edit] Related books
[edit] Janat
- Supply Chain Management: Text and Cases By Janat Shah (http://books.google.com)
See Managing Material Flow in Supply... chapter
