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“C” items have the _______ stock availability at parts of the warehouse that are ______ accessible.“B” items – somewhere in between “A” and “C” items. 12
Conclusion13One can manage inventory at:The item level (with single period and multiple period models) orThe aggregate level (using the square root rule, the turnover ratio, Inventory-Thruput curves, and ABC classification)—sqrt contributes to shape, because of EOS it bendsHow inventory is managed at the item level impacts the behavior of inventory at the aggregate level
Final Exam InformationOffice Hours For Final Exam: Monday, May 9 from 10-11amTuesday, May 10 from 12-1pm Friday, May 13 from 1-2pm (note addition)Final Exam InformationDate/Time: FRIDAY, MAY 13, 7-10 PMLocation: PHR 2.108Reminder: Individual Homework 10 (due by 5pm on Friday, May 6) Refer to final schedule (handout) for final exam review discussion14
So what should you do going forward…Keep on top of the news…Consider joining professional organizations such as:CSCMP (/)APICS ()ISM ()Continue to develop by reading technical books and articles in your area (see next slide)Keep in touch with your professor!15
Selected ReferencesBallou, R. H. 2004. Business Logistics/Supply Chain Management, 5thEd. Upper Saddle River, NJ: Pearson/Prentice Hall.Chopra S., P. Meindl. 2016. Supply Chain Management, 6thEd., New York: Peason.Coyle, J. J., C. J. Langley, Jr., B. Gibson, R. A. Novack, E. J. Bardi. 2009. Supply Chain Management: A Logistics Perspective, 8th Ed. Mason, OH: South-Western, Cengage Learning.Iyer, A. V. 2013. Managing Supply Chains: Concepts, Tools, and Applications. Naperville, IL: Hercher Publishing Incorporated.Simchi-Levi, D., P. Kaminsky, E. Simchi-Levi. 2008. Designing and Managing the Supply Chain, 3rdEd. New York: McGraw-Hill.Watson, M. , S. Lewis, P. Cacioppi, J. Jayaraman. 2012. Supply Chain Network Design: Applying Optimization and Analytics to the Global Supply Chain. Upper Saddle River, New Jersey: Pearson FT Press16