Inventory Systems

Only available on StudyMode
  • Download(s) : 118
  • Published : December 7, 2012
Open Document
Text Preview
QRB501
August 5, 2012
Prof. Victor Mojica

Introduction
There are many ways that reports can be analyzed so they can become an important part of every business success. For it to be successful, it needs to be used in the correct way, and in this work, it will be presented the various ways that it can be analyzed the for the organization to make better choices in the future. Inventory systems must work in favor of the organization, with accurate information that can be used to move forward into its business. Inventories systems are classified in different manners depending on the situation involved. Depending on the season or the type of business that is run, inventories should be adapted to what the organization is looking for. In this work it will be demonstrated how it can be done. CLASSIFICATION INVENTORY SYSTEMS

There are 3 major types of inventories:
   a) Order repetitive independent demand
   b) A single order, independent demand
   c) Order repetitive dependent demand
Systems in a single order, such as Christmas tree items or a promotion can be analyzed with arrays of payment. Systems with dependent demand rather arise in manufacturing processes where the demand for parts depends on the demand of the finished article. The material requirements planning (MRP) is the name given to this type of analysis. Another way to classify the following inventories is their relationship with the entire sequence of production operations. With this method can distinguish between four types of inventory: * Inventories of Raw Materials

In all industrial activity attend a variety of items (raw materials) and materials will be subjected to a process for the end a complete or finished article. For the materials involved to a greater extent in the production are considered "Raw Material", as their use becomes sufficiently large quantities of the finished product. The raw material is that or those items subject to a manufacturing process that will eventually...
tracking img