UNIT I INTRODUCTION TO INVENTORY MANAGEMENT
Inventory in SCM, Cash to cash cycle time, measure of inventory in terms of days, Inventory turnover ratio and its relationship with working capital, Review of models, Q-models and P-models Aggregation of Inventory, Cycle stock concepts, Ordering multiple items in a single order to reduce cycle stock
Safety stock issues Safety stock with lead time and demand uncertainty (for Q-models), Short term discounting & Forward Buying, Periodic review models with safety stock, Comparison of P and Q systems
INVENTORY MANAGEMENT STRATEGIES
Single period models, Inventory management for fashion supply chains, Postponement strategies to reduce inventory, Examples of Fashion supply chains: NFL Reebok, ZARA and Sport Obermey or Risk Pooling, Applications, Risk pooling in different forms-Substitution, Specialisation, Postponement and Information pooling
Distribution resource planning techniques, Inventory and transportation integration decisions, Vendor Managed Inventory, Product availability measures, Product fill rate, order fill rate, Cycle service level.
LATEST TRENDS IN INVENTORY MANAGEMENT SYSTEMS
Industry initiatives, Efficient consumer Response and Quick response ,CPFR and other industry initiatives, Inventory reduction strategies, Managing inventory in Reverse Logistics and Remanufacturing situations , Best practices in Inventory Management in a Supply Chain
Reference Book:
1. Supply Chain Management For The 21st Century by B S SAHAY. Macmillan Education,2001
Text Book:
1. Sunil Chopra, Peter Meindl, Supply Chain Management: Strategy, Planning, and Operation,
Pearson, 2010.
2. Janat Shah, Supply Chain Management, Pearson Education India, 2009
3. Supply chain management, Chandrasekaran,N., Oxford University Publications, 2010