Principles of Inventory and Materials Management

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9780134578880: Principles of Inventory and Materials Management

This reference work addresses the changes occurring in manufacturing that are being brought about by quality management philosophy, lower inventory, reduced lead-time, preventive maintenance and increased emphasis on customer satisfaction. Combining theory and practice, it presents alternative systems (models) for managing materials (inventory) and their use, transformation, distribution, and sale and their flow to, within and from the organization. The text covers: forecasting and marketing analysis; independent demand systems (deterministic models/probabilistic models); discret demand systems (deterministic models/materials requirements planning - MRP); inventory system changes and limitations; single order quantities; in-process inventory; just-in-time and theory of constraints; distribution inventory systems; inventory valuation and measurement; simulation; and aggregate inventory control. The study progresses from simple systems to more complex models; numerous examples of solved problems and short case studies explorea variety of situations and organizational settings; and appendices provide additional extensions and supporting logic on particular topics.

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This title is a text-reference for advanced students and practitioners involved in operations, inventory control, production control, and physical supply in manufacturing.

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