Inventory Management

Covers: Rapid review of all 48 key terms from the inventory competency in the order they were met: the six types and six functions of inventory, transportation inventory, retail inventory loss, the three objectives, customer service measures, turnover and weeks of supply, the four relevant costs, Pareto's law and ABC classification, review systems, counting methods, the simple ordering methods, the economic order quantity, the economic production quantity, quantity discounts, the single-period model, safety stock, service level and the periodic review system, with a worked number for every formula. Real-world cases: Brief callback only: Cisco's 2001 excess inventory charge of about 2.25 billion dollars as the picture of inventory risk.