what is inventory? (international logistics)
TRANSCRIPT
(INVENTORY)
PREPARED FOR:DR. SABARIAH YAAKUB
PREPARED BY:MOHAMAD SAFWAN OTHMAN 228249
MOHD ZIA-UDDIN NASIR 229176TANG WEI KE 230145
INTERNATIONAL LOGISTICS GFML 3053
INVENTORY
INTRODUCTIONInventory - A physical resource that a
firm holds in stock with the intent of selling it or transforming it into a more
valuable state and it could be an itemised catalogue or list
of tangible goods or property, or the intangible attributes or qualities.
Inventory System - A set of policies and controls that monitors levels of
inventory and determines what levels should be maintained, when stock should
be replenished, and how large orders should be placed.
Why do we keep inventory?
To stabilise production To keep inventory as to
saving time To meet the demands during the replenishment
periods To face uncertainty
To achieve economics of scale
Goods in inventory could be categorise as
Raw materials Purchased parts Components Subassemblies Work-in-process Finished goods
Inventory cost Purchase (or Production)
cost Capital cost
Ordering cost Distribution cost
Inventory carrying costs (inventory holding costs)
Shortage cost Shrinkage cost
Inventory visibility Reduce Inventory Cycle Times and
Inventory Days on Hand Improve efficiency by automating
the business and inventory policy Increase inventory certainty with
in the Supply Chain reduces safety stock requirements
Increase revenue with shorter lead times
Create logistics confidence across internal stakeholders and
customers Improve trading partner
relationships and efficiencies
Inventory visibility features On hand as well as in-transit
inventory Global and Local visibility across all
modes, geographies and supply chain locations
Monitor items and their status at each node in your storage
Inventory visibility down to the Stock Keeping Unit (SKU) level
Inventory data by supplier, warehouse, quantity on hand,
aging, description Inventory status such as held,
committed, or allocated
Managing inventory JIT (Just-In-Time)
ERP (Enterprise Resource Planning)
MRP (Material Requirements Planning)
MRP II (Manufacturing Resource Planning)
CONCLUSION
THANK YOU!TERIMA KASIH!
XIEXIE!DANKE SCHON!