September 2003
Intermediate to advanced
384 pages
8h 16m
English
Content preview from Supply Chains: A Manager's GuideBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Maintaining Safety Stock
The two preceding sections dealt with the questions of when to replenish inventory and how much to buy on each order. The present section tackles the third question: How much inventory should a facility maintain on site? The quantities calculated in the EOQ model provide a lower bound on this number; there should always be enough stock on hand to satisfy demand during the replenishment lead time. But these calculations are based on average figures for demand and supply. In reality, the number of units sold varies from day to day, shipments are delivered late, goods arrive in an unusable condition, and so on. If any of these events causes a stockout, customer orders go unfilled. There is no margin for error in the basic ...
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