Logistics

  1. Inventory Management
    1. The Role and Cost of Inventory
      1. Types of Inventory
        1. Raw Materials
          1. Component Parts
            1. Basic Materials
              1. Subassemblies
                1. Packaging Materials
                2. Work-in-Process (WIP)
                  1. Semi-finished Goods
                    1. Production Stages
                      1. Assembly Components
                        1. Quality Control Items
                        2. Finished Goods
                          1. Completed Products
                            1. Ready-to-Ship Items
                              1. Customer-Specific Products
                                1. Standard Products
                                2. Maintenance, Repair, and Operations (MRO)
                                  1. Spare Parts
                                    1. Maintenance Supplies
                                      1. Office Supplies
                                        1. Safety Equipment
                                      2. Functions of Inventory
                                        1. Buffer Against Uncertainty
                                          1. Demand Variability
                                            1. Supply Disruptions
                                              1. Lead Time Variations
                                                1. Quality Issues
                                                2. Decoupling Supply and Demand
                                                  1. Production Smoothing
                                                    1. Seasonal Adjustments
                                                      1. Market Fluctuations
                                                        1. Capacity Constraints
                                                        2. Economies of Scale
                                                          1. Bulk Purchasing
                                                            1. Production Runs
                                                              1. Transportation Efficiency
                                                                1. Volume Discounts
                                                                2. Speculative Purposes
                                                                  1. Price Hedging
                                                                    1. Market Opportunities
                                                                      1. Forward Buying
                                                                        1. Strategic Stockpiling
                                                                      2. Inventory Carrying Costs
                                                                        1. Capital Costs
                                                                          1. Interest on Investment
                                                                            1. Opportunity Cost
                                                                              1. Working Capital Requirements
                                                                                1. Cost of Capital
                                                                                2. Storage Costs
                                                                                  1. Warehouse Rent
                                                                                    1. Utilities
                                                                                      1. Labor Costs
                                                                                        1. Equipment Depreciation
                                                                                        2. Insurance and Taxes
                                                                                          1. Property Insurance
                                                                                            1. Inventory Taxes
                                                                                              1. Risk Coverage
                                                                                                1. Regulatory Compliance
                                                                                                2. Obsolescence and Shrinkage
                                                                                                  1. Product Obsolescence
                                                                                                    1. Theft and Pilferage
                                                                                                      1. Damage and Deterioration
                                                                                                        1. Expiration Losses
                                                                                                    2. Demand Forecasting
                                                                                                      1. Qualitative Forecasting Methods
                                                                                                        1. Expert Opinion
                                                                                                          1. Sales Force Estimates
                                                                                                            1. Management Judgment
                                                                                                              1. Industry Experts
                                                                                                                1. Consultant Input
                                                                                                                2. Market Research
                                                                                                                  1. Customer Surveys
                                                                                                                    1. Focus Groups
                                                                                                                      1. Market Studies
                                                                                                                        1. Competitive Analysis
                                                                                                                        2. Delphi Method
                                                                                                                          1. Expert Panels
                                                                                                                            1. Iterative Process
                                                                                                                              1. Consensus Building
                                                                                                                                1. Anonymous Feedback
                                                                                                                              2. Quantitative Forecasting Methods
                                                                                                                                1. Time Series Analysis
                                                                                                                                  1. Moving Averages
                                                                                                                                    1. Simple Moving Average
                                                                                                                                      1. Weighted Moving Average
                                                                                                                                        1. Exponential Moving Average
                                                                                                                                        2. Exponential Smoothing
                                                                                                                                          1. Single Exponential Smoothing
                                                                                                                                            1. Double Exponential Smoothing
                                                                                                                                              1. Triple Exponential Smoothing
                                                                                                                                              2. Trend Analysis
                                                                                                                                                1. Seasonal Patterns
                                                                                                                                                  1. Cyclical Components
                                                                                                                                                    1. Irregular Variations
                                                                                                                                                  2. Causal Models
                                                                                                                                                    1. Regression Analysis
                                                                                                                                                      1. Simple Linear Regression
                                                                                                                                                        1. Multiple Regression
                                                                                                                                                          1. Correlation Analysis
                                                                                                                                                            1. Variable Selection
                                                                                                                                                            2. Econometric Models
                                                                                                                                                              1. Economic Indicators
                                                                                                                                                                1. Leading Indicators
                                                                                                                                                                  1. Lagging Indicators
                                                                                                                                                                    1. Coincident Indicators
                                                                                                                                                                2. Forecast Accuracy and Error Measurement
                                                                                                                                                                  1. Mean Absolute Deviation (MAD)
                                                                                                                                                                    1. Calculation Methods
                                                                                                                                                                      1. Interpretation
                                                                                                                                                                        1. Benchmarking
                                                                                                                                                                          1. Improvement Strategies
                                                                                                                                                                          2. Mean Squared Error (MSE)
                                                                                                                                                                            1. Error Calculation
                                                                                                                                                                              1. Variance Analysis
                                                                                                                                                                                1. Model Comparison
                                                                                                                                                                                  1. Optimization Techniques
                                                                                                                                                                                  2. Tracking Signal
                                                                                                                                                                                    1. Signal Calculation
                                                                                                                                                                                      1. Control Limits
                                                                                                                                                                                        1. Bias Detection
                                                                                                                                                                                          1. Model Adjustment
                                                                                                                                                                                      2. Inventory Control Systems
                                                                                                                                                                                        1. Economic Order Quantity (EOQ) Model
                                                                                                                                                                                          1. Assumptions and Limitations
                                                                                                                                                                                            1. Constant Demand
                                                                                                                                                                                              1. Fixed Ordering Costs
                                                                                                                                                                                                1. Constant Lead Time
                                                                                                                                                                                                  1. No Stockouts
                                                                                                                                                                                                  2. Calculating EOQ
                                                                                                                                                                                                    1. Formula Application
                                                                                                                                                                                                      1. Parameter Estimation
                                                                                                                                                                                                        1. Sensitivity Analysis
                                                                                                                                                                                                          1. Model Variations
                                                                                                                                                                                                        2. Reorder Point (ROP) Systems
                                                                                                                                                                                                          1. Determining ROP
                                                                                                                                                                                                            1. Lead Time Demand
                                                                                                                                                                                                              1. Service Level Requirements
                                                                                                                                                                                                                1. Demand Variability
                                                                                                                                                                                                                  1. Supply Uncertainty
                                                                                                                                                                                                                  2. Safety Stock Calculation
                                                                                                                                                                                                                    1. Service Level Approach
                                                                                                                                                                                                                      1. Statistical Methods
                                                                                                                                                                                                                        1. Cost-Benefit Analysis
                                                                                                                                                                                                                          1. Dynamic Adjustment
                                                                                                                                                                                                                        2. Periodic Review Systems
                                                                                                                                                                                                                          1. Review Intervals
                                                                                                                                                                                                                            1. Fixed Review Periods
                                                                                                                                                                                                                              1. Variable Review Periods
                                                                                                                                                                                                                                1. Optimal Review Frequency
                                                                                                                                                                                                                                  1. Cost Considerations
                                                                                                                                                                                                                                  2. Order-Up-To Level
                                                                                                                                                                                                                                    1. Target Inventory Level
                                                                                                                                                                                                                                      1. Review Period Demand
                                                                                                                                                                                                                                        1. Lead Time Considerations
                                                                                                                                                                                                                                          1. Safety Stock Requirements
                                                                                                                                                                                                                                        2. Just-in-Time (JIT) Inventory
                                                                                                                                                                                                                                          1. Principles of JIT
                                                                                                                                                                                                                                            1. Waste Elimination
                                                                                                                                                                                                                                              1. Pull Systems
                                                                                                                                                                                                                                                1. Continuous Improvement
                                                                                                                                                                                                                                                  1. Supplier Integration
                                                                                                                                                                                                                                                  2. Benefits and Challenges
                                                                                                                                                                                                                                                    1. Inventory Reduction
                                                                                                                                                                                                                                                      1. Quality Improvement
                                                                                                                                                                                                                                                        1. Supply Chain Risks
                                                                                                                                                                                                                                                          1. Implementation Requirements
                                                                                                                                                                                                                                                        2. Vendor-Managed Inventory (VMI)
                                                                                                                                                                                                                                                          1. VMI Process
                                                                                                                                                                                                                                                            1. Inventory Monitoring
                                                                                                                                                                                                                                                              1. Replenishment Decisions
                                                                                                                                                                                                                                                                1. Performance Tracking
                                                                                                                                                                                                                                                                  1. Collaborative Planning
                                                                                                                                                                                                                                                                  2. Collaboration Requirements
                                                                                                                                                                                                                                                                    1. Information Sharing
                                                                                                                                                                                                                                                                      1. Trust Building
                                                                                                                                                                                                                                                                        1. System Integration
                                                                                                                                                                                                                                                                          1. Performance Metrics
                                                                                                                                                                                                                                                                      2. Inventory Classification
                                                                                                                                                                                                                                                                        1. ABC Analysis
                                                                                                                                                                                                                                                                          1. Classification Criteria
                                                                                                                                                                                                                                                                            1. Annual Dollar Usage
                                                                                                                                                                                                                                                                              1. Item Importance
                                                                                                                                                                                                                                                                                1. Control Requirements
                                                                                                                                                                                                                                                                                  1. Management Attention
                                                                                                                                                                                                                                                                                  2. Inventory Policies by Class
                                                                                                                                                                                                                                                                                    1. Class A Management
                                                                                                                                                                                                                                                                                      1. Class B Management
                                                                                                                                                                                                                                                                                        1. Class C Management
                                                                                                                                                                                                                                                                                          1. Policy Differentiation
                                                                                                                                                                                                                                                                                        2. Cycle Counting
                                                                                                                                                                                                                                                                                          1. Cycle Counting Procedures
                                                                                                                                                                                                                                                                                            1. Count Scheduling
                                                                                                                                                                                                                                                                                              1. Count Methods
                                                                                                                                                                                                                                                                                                1. Count Teams
                                                                                                                                                                                                                                                                                                  1. Count Frequency
                                                                                                                                                                                                                                                                                                  2. Reconciliation and Adjustment
                                                                                                                                                                                                                                                                                                    1. Variance Analysis
                                                                                                                                                                                                                                                                                                      1. Root Cause Investigation
                                                                                                                                                                                                                                                                                                        1. Inventory Adjustments
                                                                                                                                                                                                                                                                                                          1. Process Improvements

                                                                                                                                                                                                                                                                                                    Previous

                                                                                                                                                                                                                                                                                                    2. Inbound Logistics and Procurement

                                                                                                                                                                                                                                                                                                    Go to top

                                                                                                                                                                                                                                                                                                    Next

                                                                                                                                                                                                                                                                                                    4. Warehousing and Materials Handling