Fundamentals of Inventory Management and Control
Author: Max Muller
Credit: 2.0 CEUs
Testing Format: multiple choice
Your Price: $159.00
ISBN: 9780761215387
Format: Spiral/Comb/Coil Binding
Overview
Overview Fundamentals of Inventory Management and Control, Fourth Edition,has been written to introduce the new stockroom/warehouse manager, the nonfinancial inventory control individual, or the small business owner to the fundamental nature of inventory from a financial, physical, forecasting, and operational standpoint.
Course Objective:
The ultimate goal of this course is to present immediately usable information in the areas of forecasting, physical control and layout, and problem recognition and resolution. Self-assessments, activities, and example cases help you to learn the material fully and apply the skills in a variety of real-world situations.
Selected Learning Objective
Selected Learning Objectives: These materials should enable you to: – Appreciate that modern practice discourages holding large quantities of inventory and encourages only having amounts on-hand required for current needs – Apply basic supply chain management concepts -Grasp the significance of controlling actual, on-hand inventory as both a physical object (shelf count) and as an intangible object (record count and monetary worth) -Understand the fundamental differences between finished goods inventories in the retail/distribution sectors and raw materials and work-in-process inventories found in the manufacturing environment -Apply basic formulas to calculate inventory quantities -Calculate profit margins -Recognize and analyze dysfunctions within your own operation -Employ basic problem-solving techniques toward issue resolution -Control the physical location of inventory in a more efficient manner
Testing Format
Multiple Choice
Table of Contents
About This Course ix
How to Take This Course xi
Pre-Test xiii
1. Inventory as Both a Tangible and an Intangible Object 1
2. Inventory as Money 17
3. Physical Location and Control Of Inventory 45
4. Planning and Replenishment Concepts 79
5. Supply Chain Basics 107
6. Why Inventory Systems Fail and How to Fix Them 135
Recap
Review Questions
Suggested Answers/Solutions
Appendix A: Categorization by Item Popularity 177
Appendix B: Formulas 185
Appendix C: Worksheet for Activity 6-1 and Self-Assessment 6-2 193
Bibliography 195
Glossary 199
Post-Test 211
Index 217