第三章Inventory-Management.ppt

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,*,Chapter 3 Inventory Management,Text A Inventory,1.1 Definition of Inventory,Inventory is defined as the stock of any item or resource used in an organization1.An inventory managements system is the set of policies and controls that monitors levels of inventory and determines what levels should be maintained,when stock should be replenished,and how large orders should be.,In a broader context,inventory can include inputs such as human,financial,energy,equipment,and physical items such as raw materials;outputs such as parts,components,and finished goods;and interim stages of the process,such as partially,finished goods or work-in-process(WIP),1.2 Inventory Functionality,Inventory can serve two basic functions:1.To provide a reserve for production and sales.2.To get the price discount by purchasing a large quantities.Inventory may be raw materials for the factory or finished products for the wholesaler and retailer.Most of the inventory is placed in warehouse.Usually,three warehouses are available3:,（,1,）,Private warehouse.A private warehouse is owned and operated by a company.It is convenient to the owner who can store and process easily.For most factories and big traders,they often have large or small warehouse,more or less space to store good.,（,2,）,Public warehouse.Public warehouse is developing for the third part logistics and offers special services,including package and arrangement of delivery.Public warehouse has advantage of better service and lower cost than private one by its specialized equipment and marketing share.,（,3,）,Contract warehouse.this kind of warehouse is formed and depended on the relation between the suppliers and customer.When buyer purchases goods,they dont often ship it achieves a cycle at the same time and store at the sellers warehouse.Warehouse equipment consists of folk lift truck,stacker,good shelf and conveyor,etc4,1.3 safety inventory,Safety inventory is carried because demand forecasts are uncertain and a product shortage may result if actual demand exceeds the forecast demand.In the absence of demand uncertainty,such a policy ensures that the new lot arrives just as the last purse is being sold at the store.Product availability reflects a firms ability to fill a customer order out of available inventory.Assume that B&M provides Palm Pilots to 90 percent of its customer from inventory,with the remaining 10 percent lost to a,neighboring competitor because of a lack of available inventory.If the manager at B&M manages inventory such that the store does not run out of inventory in 6 out of replenishment cycles,the store service level of 60 percent In the 60 percent of cycles in which B&M does not run out of inventory,all customer demand is satisfied from available inventory Tracking order fill rates is important when customers place a high value on the entire order being filled simultaneously.,1.4 Characteristics of inventory system,To design,implement,and manage an inventory system,we must consider the characteristics of the stocks that are to be stored and understand the attributes of the various inventory systems that are available,a).Type of customer demand.,When evaluating the type of demand,we first look for any trends,cycles,or seasonality.Has demand been increasing steadily during the observation period without significant drops,or do we see a monthly cycle in which demand begins high and then tapers off by the end of the month?As noted earlier,demand also may be seasonal.,Other attributes of demand also are important to consider.Demand may occur in discrete units,such as the number of scuba-diving masks sold per day.It also maybe continuous,such as gallons of water consumed,or bulk,such as passengers on an airline flight.If final customer demand can be described as a probability distribution,it,is referred to as independent demand and we then can forecast future demand.In other cases,the demand for one type of inventory item may be related to the demand for another;for example,the demand for catsup at McDonalds restaurant is dependent on the number of hamburgers and French fries that are sold.This type of demand is called dependent demand.,b).Planning time horizon.,Management must consider whether it will stock an inventory of a particular item indefinitely or if the need for the item is temporary.For example,a hospital will always need tanks of oxygen,but a sports clothing retailer will not need an endless,supply of Atlanta Olympics sweatshirts.,c).Replenishment lead time.,The replenishment lead time has an obvious impact on inventory needs.If we expect a relatively long time between placing an order and receiving it,we must carry a larger inventory than if we anticipate a short lead time,especially when critical items are involved.If lead time is stochastic with an associated probability distribution,we may be able to use this information to determine our inventory needs during the lead time.,Words and Phrases to Text A,Inventory n.,库存，存货,财产清册,总量,详细目录,monitor n.,级长或班长,vt,.,监控，监管,determine,vt,.,决定,maintain,vt,.,维持,维修,继续,供养,主张,replenish v.,补充,;,interim adj.,中间的,临时的,间歇的,n.,中间时期,过渡时期,暂定,reserve n.,储备,(,物,),储藏量,预备队,vt,.,储备,保存,保留,预定,预约,discount n.,折扣,wholesaler n.,批发商,package n.,包裹,包,folk lift truck,叉车,demand n.,要求,需求,(,量,),需要,v.,要求,需要,要求知道,查询,absence n.,不在,缺席,缺乏,没有,uncertain adj.,无常的,不确定的,不可预测的,靠不住的,Notes to Text A,1 Inventory is defined as the stock of any item or resource used in an organization.,全句译为：库存是指企业中所储备的所有物料和资源,2 In a broader context,inventory can include inputs such as human,financial,energy,equipment,and physical items such as raw materials;outputs such as parts,components,and finished goods;and interim stages of the process,such as partially finished goods or work-in-process(WIP).,全句译为：广义的库存包括运营系统的投入要素和资源，人力、资金、能源、设备以及原材料等；也包括运营系统的产出品，如零部件、组件和产成品等，同时还包括运营过程中的半成品和在制品,(work-in-process,WIP),。,3 Inventory can serve two basic functions:1.To provide a reserve for production and sales.2.To get the price discount by purchasing a large quantities.Inventory may be raw materials for the factory or finished products for the wholesaler and retailer.Most of inventory is placed in warehouse.Usually,three warehouse are available:,全句译为：库存具有两种基本功能：,1,、为生产和销售提供库存储备。,2,、方便进行大量采购获得价格折扣。库存货物可以是工厂的原材料或者准备发给批发商或零售商的成品。大多数的存货储备会被保存在仓库，通常是如下三种库区：,4 Contract warehouse.This kind of warehouse is formed and depended on the relation between the suppliers and customer.When buyer purchases goods,they dont often ship it at the same time and store at the sellers warehouse.Warehouse equipment consists of folk lift truck,stacker,good shelf and conveyor,etc.,全句译为：仓储合同仓库。这种仓库基于供应者与客户之间的协议而产生。当买方购买货物时，经常并不是马上将货物委托承运人而保存在卖方的仓库。仓储设备由叉车，货栈，货架，运输设备等等构成。,Exercises,Fill in the blank with proper words or expressions:,1.Previously,managers perceived inventory as _,while now managers look at inventory as_.,2.Inventory is defined as _ or resource used in an organization.,3.The basic purpose of inventory analysis in manufacturing and stock keeping services is to specify:(1)_?(2)_?,True or false:,1.Inventory is not the stock of any item or resource used in an organization.,2.The basic purpose of inventory analysis in manufacturing and stock keeping services is to,specify:(1)how large the order should be?(2)when items should be ordered?,3.As we have seen,product life cycles are becoming very long,increasing the likelihood of product obsolescence.,4.To design,implement,and manage an inventory system,we need not consider the characteristics of the stocks that are to be stored,Translate Chinese into English,1.,企业的库存构成因企业不同而不同：一个制造型企业的库存可能主要由劳动力、机器设备、运营资金以及原材料，在制品和产成品构成；而一个工程设计公司的库存可能主要由工程才能构成。,2.,无论是制造业还是服务业，库存分析的基本目的是为了确定以下两个问题：,a,）订货量应该为多少,?b,）何时补充订贷,?,3.,另外一个库存管理问题是何时进行订货（也称再订货点）。,4.,由于需求的不确定性，这一问题变得较为复杂,因此需要安全库存作为保障以应付库存的短缺。,Text B Inventory Theory,1.1,Zero-inventory,While a zero-inventory manufacturing/distribution system is typically not attainable,it is important to remember that each dollar invested in inventory is a trade-off with an alternative use of assets that may provide a better return1.Given a specific manufacturing/marketing strategy,inventories planned and committed to operations can only be reduced to a level consistent with performing the four inventory functions.With accumulated experience over a number of seasonal periods,the inventory required to achieve marginal sales during periods of high demand can be projected,fairly well.,1.2 Inventory Cost,Before we can suggest actions that a manager can take to reduce cycle inventory,it is important to understand why stages of a supply chain produce or purchase in large lots and how lot size reduction affects supply chain performance.For example,a fixed,administrative cost may be incurred to place an order,a trucking cost may be incurred to transport the order,and a labor cost incurred to receive the order.The primary role of cycle inventory is to allow different stages in the supply chain to purchase product in lot sizes that minimize the sum of the material,ordering,and holding cost.2,Warehousing and storage:Products must be stored at any places unless consumers need them immediately.Warehousing and storage are activities that manager the space needed to hold the inventories.Specific storage activities include;deciding whether the storage facility should be owned,leased,or rented;warehouse layout and design;product mix considerations;safety and maintenance;security systems;personal training;and productivity measurement3.Plant and warehouse site selection.The strategic site near the specific markets can improve the customer service levels and lower transportation costs.When making a site decision,we need to research the product market,customer demands,location of raw materials,component parts a d-subassemblies,Other major considerations include labor rates,transportation,taxes,security,laws,local,community(such,as the attitude towards a new industry)land cost,and infrastructure4.Material handling.It is concerned with handling of all raw materials,parts,fittings,inventory,and finished goods within a plant or warehouse.Its,This definition is adapted from the one on marketing information systems found in Philip,Kolter,Linden Brown,Stewart Adam,and Gary Armstrong,Marketing,5th,ed.(Sydney,NSW:Prentice Hall,Inc.,2001),p.155.,objectives are:,*Reduce handling possibly,*Minimize travel distance,*Minimize goods in process,*Provide uniform flow without any negative element,*Minimize losses(damaged or stolen goods),Handling or carrying is the most frequent activities in the logistics,but generally adds no value to a product,these operations should be kept to a minimum.Material handling plays a vital role in reducing inventory,lowering costs,and increasing productivity.,1.3Constraints and relevant inventory costs,Some constraints are straightforward.For example,available storage space determines the maximum amount of goods that can be stored,and the“shelf life”of a,good likewise may limit the number of perishable items that can be held in inventory.Other constraints are more complex,such as the costs of maintaining an inventory,and there are obvious costs such as the capital expenditures for the storage facility,and a warehouse or a walk-in refrigerator.Items help in inventory also represent a capital expenditure(i.e.,they represent an opportunity cost of,capital).Other costs include those of personnel and the maintenance required to manage the inventory as well as“incidentals”such as insurance and taxes on the inventoried assets.Yet another cost to consider is that of overcoming existing constraints(e.g.,what would it,cost to expand the size of the warehouse or refrigerator?).,The performance of an inventory system usually is gauged by its average cost.Relevant costs to be considered include holding costs,ordering costs,stock-out costs,and the purchase cost of the items.The inventory holding cost is the cost that varies,directly with the number of items held in stock.The opportunity cost associated with capital tied up in inventory is a major component of the holding cost.Other components are insurance cost,obsolescence cost,deterioration cost,and direct handling cost.The ordering cost is the cost that varies directly with the number of order that is placed.Order preparation,transportation,receiving,and inspection on arrival are major contributors to the ordering cost of,purchases from suppliers.The stock-out cost varies directly with the number of units out of stock,and this cost includes the margin on a lost sale and the potential loss of future sales.The purchase cost of the item can be a function of the order size when quantity discounts are offered by the supplier.,In the following section,we will develop models that determine the appropriate,size of the order quantity on minimizing the total annual cost of the inventory system.,Words and Phrases,zero-inventory,零库存,attainable adj.,可到达的,可得到的,invest v.,投,(,资,),购买,(,有用之物,),授予,投资,alternative n.,二中择一,可供选择的办法,事物,adj.,选择性的,二中择一的,strategy n.,策略,军略,accumulate v.,积聚,堆积,project n.,计划,方案,事业,企业,工程,v.,设计,计划,投射,放映,射出,发射,(,导弹等,),凸出,purchase,vt,.,买,购买，采购,n.,买,购买,performance n.,履行,执行,成绩,性能,表演,演奏,trucking cost,汽车搬运成本,minimize,vt,.,将,.,减到最少,v.,最小化,warehousing,仓库费，入仓库，仓库贮存,immediately adv.,立即,马上,直接地,rented adj.,租用的,租金的,layout n.,规划,设计,(,书刊等,),编排,版面,配线,企划,设计图案,(,工厂等的,),布局图，版面设计,considered adj.,考虑过的,被尊重的,maintenance n.,维护,保持,生活费用,扶养,Notes to Text B,1While a zero-inventory manufacturing/distribution system is typically not attainable,it is important to remember that each dollar invested in inventory is a trade-off with an alternative use of assets that may provide a better return.,全句译为：尽管零库存的生产,/,分销体系通常是很不容易生成的，重要的是要记住投资于存货的每一美元都要与获得更多回报的资产使用进行均衡。如果有一个明确详细的生产,/,营销战略的话，存货计划和实施运营只能降低到与执行这四个存货功能一致的水平。,2 The primary role of cycle inventory is to allow different stages in the supply chain to purchase product in lot sizes that minimize the sum of the material,ordering,and holding cost.,全句译为：循环存货的主要作用是为供应链的不同阶段在采购产品时能够在原材料、订货和存货等的总体成本上达到最小化。,3Warehousing and storage:Products must be stored at any places unless consumers need them immediately.Warehousing and storage are activities that manager the space needed to hold the inventories.Specific storage activities include;deciding whether the storage facility should be owned,leased,or rented;warehouse layout and design;product mix considerations;safety and maintenance;security systems;personal training;and productivity measurement.,全句译为：货物在顾客需要之前，必须储存。库存需要空间。库存活动包括；决定库存设施是自营、外报和租赁；仓库设计；货物混合储存；安全库存和保质，设备安全；员工培训及产品估值。,4Plant and warehouse site selection.The strategic site near the specific markets can improve the customer service levels and lower transportation costs.When making a site decision,we need to research the product market,customer demands,location of raw materials,component parts a d subassemblies.Other major considerations include labor rates,transportation,taxes,security,laws,local community(such as the attitude towards a new industry