SCM 303 Study Guide - Final Guide: Operations Management, Quality Management, Average Absolute Deviation
Document Summary
Part 3: ch. "s 12, 13, 6, 8, 17. Scm review guide: part 1 of the course, product priorities (ch. Inventory holding/carrying cost (ch. 7: cost of capital (opportunity cost, cost of owning and maintaining storage space, taxes iv. Increased ordering costs: days of supply, how many days of demand into the future can we satisfy from inventory on hand, =(current inventory/expected rate of daily demand, part 2 of course a. Independent demand inventory management (ch. 14: independent demand: demand hat is random or unpredictable, not linked to another scheduled product or event, maintenance supplies, repair parts, and customer demand, dependent demand: directly related to a scheduled product or event. Uncertainty: demand, lead time, each has an average and a variance around the average, reducing inventory costs, managing cycle stock: reducing order quantities, managing safety stock: using abc analysis and reducing variation, the strategic sourcing process (ch.
