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Inventory Scheduling Approaches

Inventory Scheduling Approaches - Inventory Scheduling...

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Inventory Scheduling Inventory Scheduling Approaches Approaches
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9-2 Inventory Scheduling Approaches Three popular inventory scheduling approaches: JIT (Just in Time) MRP (Materials Requirements into Planning) DRP (Distribution Resource Planning)
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9-3 JIT Key characteristics: Zero inventory Zero defects Small, frequent replenishment Product arrives when needed, no tolerance for early or late deliveries. High priority on consistent lead times. Earliest application: Toyota’s Kanban system - signboards on carts and totes carrying parts to the production line indicate the exact quantities and necessary time of replenishment.
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9-4 JIT versus EOQ Major differences. JIT… 1. Involves short production runs with frequent changeovers – which may require investment in advanced manufacturing technology. 2. Requires consistent lead times. 3. Relies on high-quality incoming products and on disciplined, synchronized inbound logistics operations. 4. Requires a strong, mutual commitment between buyer and seller.
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9-5 EOQ versus JIT Attitudes and Behaviors
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9-6 MRP Materials Requirements Planning (MRP) Procedures, decision rules, and data bases used to
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