CH12 Inventory

CH12 Inventory - Bus 140 Notes 3/13/2008 Project #2 Due...

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Bus 140 Notes 3/13/2008 Project #2 Due 4/10/2008 Your choice of target CH10 Come up with product and research by next week Partner smintyfresh@yahoo.com sminapara@aaaesjsu.com CH10 Charts X-bar R P C Measuring mean, range, standard deviation, etc…. Stat stuffs to measure the quality. Cp or Cpk The key assumption to be satisfied in order to use a process capability index is for the stat to be stable. CH12 Inventory Management *******The finish product has independent demand All the components that goes in to the product has dependent demand Types of inventories - Materials - Work in process - Finish goods - Replacement - Supplies - In transit Balancing pros and cons of holding inventory
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Inventory holding rate 20% - 40% Just in time – to minimize the holding costs How much to order to minimize costs. When to order? ABC Classification system Importance rate How often the inventory is used The costs A – 10 – 12% of inventory and 70 – 80% of value Lead Time – how long does it take for us to get it? Holding costs – costs to carry an item (year based)
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CH12 Inventory - Bus 140 Notes 3/13/2008 Project #2 Due...

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