财务管理与财务分析运营管理课件.pptVIP

Cachon Chapter 5The economic order quantity method Inventory Systems for Independent Demand Basic fixed order quantity system Constant Demand Uncertain demand Basic fixed time period system Newsvendor model Supply chain contract Purposes of Inventory 1. To maintain independence of operations 2. To meet variation in product demand 3. To allow flexibility in production scheduling 4. To provide a safeguard for variation in raw material delivery time 5. To take advantage of economic purchase-order size TRADE-OFFS You cannot sell from an empty cart OUR LINE OF CREDIT (BUDGET) WILL SUPPORT ONLY SO MUCH $1 IN INVENTORY COSTS ABOUT $.25/YEAR OUT-OF-STOCKS = LOST SALES = LOST CUSTOMERS ITS IMPOSSIBLE TO FORECAST PERFECTLY Three Questions of inventory System What to order? How many to order? When to order? Timing is a critical issue! Inventory Costs Holding (or carrying) costs Setup (or production change) costs Ordering costs Shortage costs .... Classifying Independent Demand Systems Fixed-Order Quantity The reorder point Fixed-Time Period Hybrid Systems - Both Together - Order Periodically unless we reach the reorder point. Inventory Systems for Independent Demand Basic fixed order quantity system Constant Demand Uncertain demand Basic fixed time period system Newsvendor model Supply chain contract Fixed-Order Quantity ModelsEconomic Order Quantity (EOQ): Assumptions Demand for the product is constant and uniform throughout the period Lead time (delivery time of the order) is constant Price per unit of product is constant .... Fixed-Order Quantity Models Economic Order Quantity: Assumptions (cont’d) Inventory holding cost is based on average inventory. Ordering or setup costs are constant. All demands for the product will be satisfied (No lost sales are allowed) .... EOQ : A SIMPLE MODEL EOQ Model--Basic Fixed-Order Quantity Model Cost Minimization Goal Basic Fixed-Order Quantity Model Deriving the EOQ - Calculus Method Using cal