BUSML 3380 Lecture Notes - Lecture 1: Inventory Turnover, Supply Chain, Stockout
24 Jun 2017
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Document Summary
Measures inventory is depleted and replenished in a year. Greater numbers imply that less inventory is needed to generate a given sales volume (valued at purchase or production costs). times. Measures how efficiently inventory moves through the supply chain. Higher dwell time ratios are indicative of possibly unnecessary delays in getting the inventory to its destination. While the specific measurement varies widely, it is a commonly used measure of customer service. Measures the extent to which customer demand was satisfied without any stockouts. As a measure of customer service, the fill rate measures the magnitude of in-stock occurrences and, thus, is a complement to the in-stock rate. What are the different types of inventory: types of inventory, cycle stock inventory maintained for sales, safety stock inventory maintained to buffer against uncertainties never expected to be used. Inventory classification: a, most important, more detailed focus, frequent shipments, larger batches, b, c, larger safety stock, not reviewed constantly.
