CHAPTER 12
Inventory Management
Before studying this chapter, you should know or, if necessary, review
- Competitive priorities, Chapter 2, pp. 37–43.
- Internal and external customers, Chapter 4, p. 106.
- Advantages of small lot sizes, Chapter 7, pp. 258–259.
- Forecast error, Chapter 8, pp. 307–310.
LEARNING OBJECTIVES
After studying this chapter you should be able to
Describe the different types and uses of inventory.
Describe the objectives of inventory management.
Calculate inventory performance measures.
Understand the relevant costs associated with inventory.
Perform ABC inventory control and analysis.
Understand the role of cycle counting in inventory record accuracy.
Understand the role of inventory in service organizations.
Calculate order quantities.
Evaluate the total relevant ...
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