Inventory management - Why should there be any inventory
4 important questions on Inventory management - Why should there be any inventory
What is the task of operations management in inventory?
What are the benefits of inventory?
2) physical inventory can counteract the lack of flexibility
3) physical inventory allows operations to take advantage in short term opportunities.
What three major types of decisions are operations managers involved with?
● When to order. At what point in time, or at what level of stock, should the replenishment order be placed (sometimes called the timing decision)
● How to control the system. What procedures and routines should be installed to help make these decisions? Should different priorities be allocated to different stock items? How should stock information be stored?
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What are the different types of inventory?
2) cycle inventory
3)de-coupling inventory
4) anticipation inventory
5) pipeline inventory
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