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Chapter 11 Lecture Notes on Slides

Set up costs break even charts point where fixed and

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Unformatted text preview: ng Tools • Inventory Control • Process of identifying and implementing inventory Process levels to minimize total cost levels • Economic Order Quantity • Reducing set up costs • Break-even Charts • Point where fixed and variable costs are same • Learning Curve • If you do things more, you will get faster If (better) (better) The Economic Order Quantities (EOQ) model determines the most economic lot/batch size for a production run. Changeover Cost + Inventory Carrying Cost Variable Cost Inventory Carrying Cost Changeover Cost Fixed Cost EOQ Increasing Lot/Batch Size Lean looks at shifting the EOQ to the left Changeover Cost + Inventory Carrying Cost Variable Cost Inventory Carrying Cost Changeover Cost Fixed Cost EOQ Increasing Lot/Batch Size Cost Volume Profit Model Cost $ total rev total cost fixed cost BEP vol Production Planning and Control Systems Control • Managing the people and machines Managing for optimum performance (utilization) to prevent idleness (utilization) • Material Requirements Planning (MRP) • Manufacturing Resource Planning Manufacturing (MRP II) (MRP • Theory of Constraints • Lean Manufacturing & JIT Homework Homework • 11-5, 6, 8...
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