Inventory Management

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  • Topic: Inventory, Inventory control system, Supply chain management
  • Pages : 42 (13258 words )
  • Download(s) : 299
  • Published : June 11, 2012
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ProjectNumber:

MQP‐JZ‐1234

GEAviation InventoryManagement A Major Qualifying Project submitted  to the faculty of Worcester    Polytechnic Institute in partial    fulfillment of the requirements for the    Degree of Bachelor of Science. 

     

Submitted by:    Danielle Fontaine    Kimberly Martilla    Lauren Russell  Dr. Joe Zhu, Faculty Advisor 

In Cooperation With:     Project Liaison:  John G. Pantazopoulos  Materials Manager, GEAE‐Lynn, MA    

This report represents the work of one or more WPI undergraduate students submitted to the faculty as  evidence of completion of a degree requirement. WPI routinely publishes these reports on its web site  without editorial or peer review.  i   

Abstract
Our GE Aviation Inventory Management project tasked us to create an inventory ‘faceplate’ tool that is user friendly and enables GE’s LMO team to quickly identify and react to material input schedules. The tool utilizes raw and work in progress (WIP) balances linked to cycle times and input schedules and suggests correct input material to fulfill customer schedules while driving inventory balances down.

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Acknowledgements
 

We would like to thank everyone in the LMO team at GE Aviation in Lynn, MA, especially our sponsor John Pantazopoulos for all of his help and insight. We would also like to thank our Advisor Dr. Joe Zhu.

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AuthorshipPage
Danielle Fontaine, Kimberly Martilla, and Lauren Russell contributed equally to the creation of this report.

iv   

TableofContents
Abstract ................................................................................................................................... ii Acknowledgements ................................................................................................................ iii Authorship Page ..................................................................................................................... iv Table of Contents .................................................................................................................... v List of Figures .........................................................................................................................  ii v List of Tables..........................................................................................................................  iii v Executive Summary .................................................................................................................ix Background Research ....................................................................................................................... x Methodology ................................................................................................................................... x Results ............................................................................................................................................ xi Conclusions and Recommendations ............................................................................................... xii

Chapter 1: Introduction into Inventory Management .............................................................. 1 Chapter 2: Background ............................................................................................................ 3 2.1 What is Inventory Management? ............................................................................................... 3 2.2 Types of Inventory Management Systems .................................................................................. 5 2.3 GE‐ Aviation ............................................................................................................................. 13

Chapter 3: Methodology  ....................................................................................................... 16 ....
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