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This text/reference addresses the unprecedented changes occurring in manufacturing that are being brought about by quality management philosophy — lower inventory, reduced lead-time, preventive maintenance, and increased emphasis on customer satisfaction. Combining theory and practice, it presents alternative systems (models) for managing materials (inventory) — their use, transformation, distribution, and sale — and their flow to, within, and from the organization. KEY TOPICS: Covers forecasting and marketing analysis; independent demand systems (deterministic models/probabilistic models); discrete demand systems (deterministic models/materials requirements planning - MRP); inventory system changes and limitations; single order quantities; in-process inventory, just-in-time, and theory of constraints; distribution inventory systems; inventory valuation and measurement; simulation; and aggregate inventory control. Content progresses from simple systems to more complex models; numerous examples of solved problems and short case studies explore a variety of situations and organizational settings; and appendices provide additional extensions and supporting logic on particular topics. MARKET: For practitioners and advanced students involved in operations, inventory control, production control, and physical supply in manufacturing.
2. Forecasting and Market Analysis.
3. Independent Demand Systems: Deterministic Models.
4. Discrete Demand Systems: Deterministic Models.
5. Independent Demand Systems: Probabilistic Models.
6. Inventory System Changes and Limitations.
7. Single Order Quantities.
8. Dependent Demand Systems: Material Requirements Planning (MRP).
9. In-Process Inventory, Just-in-Time, and Theory of Constraints.
10. Distribution Inventory Systems.
11. Inventory Valuation and Measurement.
13. Aggregate Inventory Control.