Tag: Dependent vs independent demand

OBJECTIVES Provide a clear understanding of the interdependancy between inventory control, service level, production planning and cost control. Provide the necessary techniques and practical solutions to realize optimised stock levels and well balanced production batches. TARGET GROUP All staff members and executives in charge of customer service, inventory control, production management or those who are preparing to take these responsibilities in the near future. Course Outline Introduction to inventory control Role of stocks as buffer between unequal flows Inventory types Dependent vs independent demand Cost elements of inventory control The optimal order quantity: EOQ The static order model The principles of the static model The different variables: lead time, revision, rotation, service level The use of ABC-analysis in inventory control The determination of the safety stock, the order level and the maximum The dynamic order model and forecasting The principles of the dynamic model Forecasting and prediction Review of the decomposition method; trends and seasonal influances Selection of the forecasting method Strategical inventory control Multi-level inventory control: optimisation...