Inventory
Deterministic and Probabilistic models in Inventory
The order quantity (how much) and reorder point (when) are determined deterministically by minimizing the total inventory cost that… […]
Tools and Techniques of inventory Management
Inventory
Just in Time (JIT) Inventory Management
In JIT, a firm keeps only enough inventory on hand to meet immediate production needs. The JIT system reduces inventory carrying… […]
Inventory
Aging Schedule of Inventories
Managers can aware by monitoring the average age of inventory, what their pricing strategy should be. The average age of inventory… […]
Inventory
Inventory Turnover Ratio in Business
The Inventory Turnover Ratio is also known as stock velocity is normally calculated as “sales/average inventory” or “cost of… […]
Inventory
VED Analysis
VED Analysis: The VED analysis employed in inventory control is used generally for spare parts. It is an important, necessary and desirable analysis. The requirements and urgency of spare parts is different from that of […]
Inventory
A-B-C Analysis in Inventory Management
A-B-C analysis helps to concentrate more efforts on category A since greatest monetary advantage will come by controlling… […]
Inventory
Economic Order Quantity (EOQ)
Economic order quantity is the point at which inventory carrying costs are equal to order costs. EOQ is that order quantity or… […]
Inventory
Determination of Safety Stock in Inventory Management
The stock-out can prove costly by affecting the smooth working of the concern. In order to protect against the stock out arising… […]
Inventory
Determination of Stock Levels in Inventory Management
When the quantity of materials reaches a certain figure then fresh order is sent to get materials again. The order is sent before… […]
Inventory
Tools and Techniques of Inventory Control Management
Inventory holds a significant amount of capital, if not the majority of a company’s capital. As a result, it is critical to control… […]