The purchasing management department ensures that all goods, supplies and inventory needed to operate the business are ordered and kept in stock. It is also responsible for controlling the cost of the goods ordered, controlling inventory levels and building strong relationships with suppliers.IACT offers Purchasing and Material Management Certification along with several e-learning courses to working professionals and students across India.
To know more call: 0120-3843057, 9654449005 or visit http://www.iactglobal.in/
Final purchasing and materials management pptiACT Global
Purchasing function , in a business environment , is one of the most critical functions as it provides the input for the organization to convert into output.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
Final purchasing and materials management pptiACT Global
Purchasing function , in a business environment , is one of the most critical functions as it provides the input for the organization to convert into output.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
Planning of materials in Construction Project managementAravind Samala
Materials management is an important element in project planning and control. Materials represent a major expense in construction, so minimizing procurement or purchase costs presents important opportunities for reducing costs.
Materials management is not just a concern during the monitoring stage in which construction is taking place. Decisions about material procurement may also be required during the initial planning and scheduling stages.
Planning of materials in Construction Project managementAravind Samala
Materials management is an important element in project planning and control. Materials represent a major expense in construction, so minimizing procurement or purchase costs presents important opportunities for reducing costs.
Materials management is not just a concern during the monitoring stage in which construction is taking place. Decisions about material procurement may also be required during the initial planning and scheduling stages.
Course in Big Data Analytics in association with IBM
Everyday huge amount of data is created. This data comes from everywhere : sensors used to gather climate information, post to social media sites, digital pictures and videos, purchase transaction records and Cell phone GPS signals to name a few. This data is Big Data.
Big data is a blanket term for any collection of data set so large and complex that it becomes difficult to process using on hand data management tools or traditional data processing applications. The challenges include capture, storage, search, sharing, transfer, analysis and visualization. Anyone who has knowledge on Java, basic UNIX and basic SQL can opt for Big Data training course.
IACT Global provides Big Data Certification in support with IBM Big Insight.To know more about the course connect with the counselors of IACT Global
http://www.iactglobal.in/course.aspx?coursename=big-data-vc
Certification and Training in International Financial Reporting Standards (IFRS)iACT Global
International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.
India is one of the over 100 countries that have or are moving towards IFRS (International Financial Reporting standards) convergence with a view to bringing about uniformity in reporting systems globally, enabling businesses, finances and funds to access more opportunities.
ICAI has decided to implement IFRS in India. The Ministry of Corporate Affairs has also announced its commitment to convergence to IFRS.
Managing infrastructure projects requires a professional orientation, especially so in developing economies like India. Herein a materials management and suppl chain management orientation is taken to highlight some of the successful projects.
Objectives:
Identify the various functions and responsibilities of the warehouse/stores function.
Identify the various costs associated with holding or not holding inventory.
Describe and contribute in the design of an effective warehouse
Explain how to measure the performance of a warehouse
The slides contains information on Production Management according to the UHS content of Pharmaceutical Marketing and Management. It would be helpful for Pharm.D students to cover their syllabus content.
It contains detailed information on:
Material Management
Planning of Production
Batch Record Maintenance by WHO
Tools of Inventory Control
Good Manufacturing Practices under Drug Act
5P's of Production Management
Objective of Production Management
Rules and Regulations of PM
Elements of Production Management
Companies that optimize their inventory reduce inventory items and stock levels, avoid associated carrying costs and obsolescence write-downs. Want to know the best practices to optimize your inventory, check the presentation-
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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Learning Objectives
•Materials Management
• Definition
• Primary and secondary objectives
• Functions of Materials Management
•Integrated materials management
• Need for integrated approach
•Materials Requirement Planning
•Computerized materials management
• EDP
• Basic MRP concepts
• Computer application to MRP process
• Advantages and disadvantages
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Materials Management
Definition
Material management is a scientific technique, concerned with Planning,
Organizing &Control of flow of materials, from their initial purchase to
destination.
•An approach for planning, organizing, and controlling all those activities
principally concerned with the flow of materials into an organisation.
•The scope of Materials Management varies greatly from company to
company and may include material planning and control, production
planning, Purchasing, inventory control, in-plant materials movement,
and waste management.
•It is a business function for planning, purchasing, moving, storing
material in a optimum way which help organisation to minimise the
various costs like inventory, purchasing, material handling and
distribution costs.
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Primary Objectives
1. Low Prices
2. Lower Inventories
3. Reduction in Real Cost
4. Regular Supply
5. Procurement of Quality Materials
6. Efficient handling of Materials
7. Enhancement of firm’s goodwill
8. Locating and developing future Executives
Objectives of Materials Management
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Integrated Materials Management
All the materials related activities such as material planning & indenting,
purchase systems & procedure, variety reduction through standardization &
rationalization, reducing uncertainties in demand & supply, handling &
transportation, inspection, proper storage & issue of materials to the internal
customers, inventory management, vendor management & finally disposal of
obsolete, surplus & scrap materials etc. taken together is termed as Integrated
Materials Management.
Tangible Advantages:
•Better accountability
•Better coordination
•Better performance
•Better adaptability to EDP
Intangible Advantages:
•Noticeable team spirit
•Morale and cooperation
Logical sequence in Materials
management:
•Forecasting the requirements
•Deciding stocking policies
•Vendor evaluation/source selection
•Release of orders
•Follow up of orders
•Receipt of materials
•Issue/stock of maintenance
•Stock accounting
•Inventory control
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Integrated Materials Management
Adds to the profitability of
the organization.
Maximizing materials
productivity
Efficient management of input
materials is of utmost importance
Efficient management
of input materials is
of utmost importance
in a business
organization for
maximizing materials
productivity, which
ultimately adds to the
profitability of the
organization.
Well coordinated
approach towards
various issues
involving decision
making with respect
to materials is
integrated materials
management.
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Inventory Control Methods
Independent –Versus Dependent-Demand Items:
Demand for end-product items is called independent demand, while demand for
items contained in manufacturing inventories is called dependent demand.
Some independent-demand items must be carried on a continual basis; some
dependent-demand items need only to be stocked just priori to the time they will
be needed in the production process. The predictability of some dependent-
demand items means that there is little or no need for safety stock.
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Material requirements planning (MRP) is a
production planning, scheduling, and inventory control
system used to manage manufacturing processes.
Most MRP systems are software-based, while it is possible
to conduct MRP by hand as well.
MRP calculates and maintains an optimum manufacturing
plan based on master production schedules, sales
forecasts, inventory status, open orders and bills of
material. If properly implemented, it will reduce cash flow
and increase profitability. MRP will provide you with the
ability to be pro-active rather than re-active in the
management of your inventory levels and material flow.
Materials Requirement Planning
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Materials Requirement Plan
Integrating MRP and JIT
The need for integration arises in companies that have an installed MRP
system and are in the process of implementing some aspect of JIT.
Often these JIT programs seem to conflict with the MRP system that the
firm may have in place. As lead times shrinks and material velocity
increases, the limiting activity can turn out to be transaction processing;
increased demand can compound the problem.
The primary inputs of MRP are a bill of materials, which tells the
composition of a finished product; a master schedule, which tells how
much finished product is desired and when; and an inventory record file,
which tells how much inventory is on hand or on order. The planner
processes this information to determine the net requirements for each
period of the planning horizon.
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Computerized Inventory Management System
Advantages & Disadvantages
•Speed and Efficiency
•Document Generation
•Timely Data
•Reliance on Technology
•Accuracy Issues
•Risk of Fraud
4/13/15
3 types of
computerised
materials
management function:
•Materials planning
subsystem
•Stock maintenance and
stores accounting
subsystem
•Purchase subsystem
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Computerized Inventory Management System
Types of activities performed:
•Posting of inventory records.
•Computation of economic order quantities.
•Preparation of purchase requisitions.
•Preparation of purchase orders.
•Distribution of accounting charges.
• Automatic preparation of follow-up memos.
•Posting of delivery and quality records, by part and by vendor.
•Preparation of numerous operating reports for management.
•Auditing of invoices and preparation of cheque for payment of invoice.
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Computerized Inventory Management System
Operational And Exceptional Reports
1) Bill of materials
2) Price forecasts
3) Purchase budget
4) ABC Analysis
5) Inventory levels
6) Items below safety stock levels
7) Movement analysis
8) Materials accounting and summary of
issues
9) Stock verification
10) Vendor rating
11) Sector-wise and material category-wise
purchase list
12) Outstanding payments
Following exceptional reports for managerial purpose:
1) Items for which consumption is morel than the norms
2) Items for which there is a supply shortage and anticipated price increase
3) Items with stock level above maximum norms
4) Obsolete items
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Net requirements planning
It is carried out in MRP in the planning run after the planning file check and at plant
level.
The system checks whether it is possible to cover requirements with the plant stock
and fixed receipts already planned. In the case of a shortage the system creates a
procurement proposal.
Gross requirements Planning
It is often combined with repetitive manufacturing. This strategy is particularly
useful if you need to produce, regardless of whether you have stock or not.
For instance, steel or cement producers might want to use this strategy
This strategy is also frequently used if there is a Material Requirements
Planning system in a legacy system that needs to be linked which serves as a
production execution system.
Computerized Inventory Management System
Hello everyone. Welcome to the first session of Purchasing and materials management session on behalf of iACT.
Our first module will be covering topics on
//edited
The planning and control of the functions supporting the complete cycle (flow) of materials, and the associated flow of information. These functions include (1) identification, (2) cataloguing, (3) standardization, (4) need determination, (5) scheduling, (6) procurement, (7) inspection, (8) quality control, (9) packaging, (10) storage, (11) inventory control, (12) distribution, and (13) disposal.
1. Low Prices:
If materials department succeeds in reducing the price of items it buys, it contributes in not only reducing the operating cost but also in enhancing the profits.
2. Lower Inventories:
By keeping inventories low in relation to sales, it ensures that less capital is tied up in inventories. This increases the efficiency with which the capital of the company is utilized resulting in higher return on investment. Storage and carrying costs are also lower.
3. Reduction in Real Cost:
Efficient and economical handling of materials and storage lowers the acquisition and possession cost resulting in the reduction in the real cost.
4. Regular Supply:
Continuity of supply of materials is essential for eliminating the disruption in the production process. In the absence of regular supply of materials, production costs go up.
5. Procurement of Quality Materials:
Materials department is responsible for ensuring quality of materials from outside suppliers. Therefore, quality becomes the single most objective in procurement of materials.
6. Efficient handling of Materials:
The effective material control techniques help the efficient handling of materials resulting in the lowering of production cost.
7. Enhancement of firm’s goodwill:
Good relations with the suppliers of materials enhance the company’s standing in the society as well as in the business community.
8. Locating and developing future Executives:
Materials manager must devote special effort to locate men at lower position who can take up the executive posts in future. It helps in developing talented personnel who are ready to undertake future responsibilities of the business relating to materials management.
1. Reciprocity:
The purchase of raw materials from the organisations/customer’s by the concern and in turn, sale of finished products to the above customers is known as reciprocity. It serves the twin purpose of increasing purchasing as well as sales.
2. New Developments:
The staff of the materials department deals regularly with the suppliers responsible for new developments in material handling. These developments can be successfully applied in material handling and management.
3. Make or Buy Decisions:
The material manager with regular reviews of cost and availability of materials can safely conclude that whether the material is to be purchased or developed in the organisation itself.
4. Standardisation:
Standardisation of materials is greatly helpful in controlling the material management process. With regular stock-taking, the non-standardised items can be rejected and standard components may be brought into product designs to reduce the cost of production. It is further helpful in promoting the standardisation with suppliers.
5. Assistance to Production department:
By supplying the standardised materials or components to the production department, quality products can be assured. It is helpful in imparting the economic knowledge in bringing about the desired improvement in the product.
6. Co-operation with other departments:
Successful management of materials department contributes to the success of every other department in the organisation. At the same time the success of materials department depends on how successful it is in getting the co-operation of the staff of the other departments.
7. Conception of future outlook:
The materials manager must have some conception of future outlook for prices, cost and general business activity. Forecasting can be made about the future trends in materials. The materials manager should be able to foresee the prices and costs of the raw materials and general business conditions through their daily contracts with the suppliers.
From the above it is clear that materials management serves two fold objectives viz., to strive for a reduction in cost of production and distribution and to help the enterprise in attaining its objectives.
These dual objectives of the materials management further aim at maintaining the regular flow of production by purchasing materials of right quality, in a right quantity at a right time from a right source, on right terms and conditions and at lower price.
It is helpful in efficiently controlling the inventories. It is further beneficial in developing good buyer seller relations. Coordination with other departments is established and considerably helps the organisation to grow and advance in technical field.
Various functions served by materials management include the material planning, purchasing, receiving, stores, inventory control, scrap and surplus disposal. All these functions can have separate working norms including the one for performance.
Efficient management of input materials is of utmost importance in a business organization for maximizing materials productivity, which ultimately adds to the profitability of the organization.This requires well coordinated approach towards various issues involving decision making with respect to materials. All the materials related activities such as material planning & indenting, purchase systems & procedure, variety reduction through standardization & rationalization, reducing uncertainties in demand & supply,
handling & transportation, inspection, proper storage & issue of materials to the internal customers, inventory management, vendor management & finally disposal of obsolete, surplus & scrap materials etc. taken together is termed as Integrated Materials Management.
For example , while inventory manager would like to have minimum level of inventory to show of his performance , Purchasing manager would like to place bulk orders in order to lessen his work load and show discounts as reductions. Both of these acts may be little contradictory from the organisational point of view. That is if some of the functions were to be handled separately, a conflict of interests may occur. Therefore, the conflicting objectives need to be balanced and intertwined from a total organisational viewpoint so as to achieve optimum results for the organisation as a whole.In an integrated set up, one materials manager (usually the chief) is responsible for all such inter related functions and he is in a position to exercise control and coordinate all the activities with a view to ensure proper balance of the conflicting objectives of the individual functions.
Integration also attains the synergetic advantage in terms of eliminating water tight compartments that set in in a disjointed environment of working. The resulting benefits can be seen in terms of rapid transfer of data, through effective and informal communication channels.
Various functions served by materials management include the material planning, purchasing, receiving, stores, inventory control, scrap and surplus disposal. All these functions can have separate working norms including the one for performance.
Efficient management of input materials is of utmost importance in a business organization for maximizing materials productivity, which ultimately adds to the profitability of the organization.This requires well coordinated approach towards various issues involving decision making with respect to materials. All the materials related activities such as material planning & indenting, purchase systems & procedure, variety reduction through standardization & rationalization, reducing uncertainties in demand & supply,
handling & transportation, inspection, proper storage & issue of materials to the internal customers, inventory management, vendor management & finally disposal of obsolete, surplus & scrap materials etc. taken together is termed as Integrated Materials Management.
For example , while inventory manager would like to have minimum level of inventory to show of his performance , Purchasing manager would like to place bulk orders in order to lessen his work load and show discounts as reductions. Both of these acts may be little contradictory from the organisational point of view. That is if some of the functions were to be handled separately, a conflict of interests may occur. Therefore, the conflicting objectives need to be balanced and intertwined from a total organisational viewpoint so as to achieve optimum results for the organisation as a whole.In an integrated set up, one materials manager (usually the chief) is responsible for all such inter related functions and he is in a position to exercise control and coordinate all the activities with a view to ensure proper balance of the conflicting objectives of the individual functions.
Integration also attains the synergetic advantage in terms of eliminating water tight compartments that set in in a disjointed environment of working. The resulting benefits can be seen in terms of rapid transfer of data, through effective and informal communication channels.
//Independent demand refers to the demand of finished goods. Dependent demand refers to the demand for items that are subassemblies or component parts to be used in the production of finished goods. The amount of dependent demand is the function of the amount of independent demand.
For example, the parts and materials that go into the production of an automobile are examples of dependent demand, because the total amount of parts and raw materials needed during any time period is a function of the number of cars that will be produced. Conversely, demand for the finished cars is independent. A car is not a component of another item.
Independent demand is fairly stable once allowances are made for seasonal variations, but independent demand tends to be sporadic or "lumpy"; large quantities are used at specific points in time with little or no usage at other times.
Some independent-demand items must be carried on a continual basis; some dependent-demand items need only to be stocked just priori to the time they will be needed in the production process. The predictability of some dependent-demand items means that there is little or no need for safety stock.
For example, a firm that produces lawn and garden equipment might make a variety of items, such as trimmers, lawn mowers, and small tractors. Suppose that the various products are produced periodically --- in one month, push mowers; in the next month, mulching mowers; and in the third month, tractors. Some components may be used in most of the items (e.g., nuts and bolts, screws). It makes sense to have a continual inventory of these parts because they are always needed. On the other hand, some parts may be used for only one item. Consequently, demand for those parts occurs only when that item is being produced, which might be once every eight or nine weeks; the rest of the time, demand is zero. Thus, demand is "lumpy."
//Slide added
Since investment in MPC systems is large and fixed over a long period of time, its design must support the firm’s competitive strategy.
A wide range of options are available in designing MPC systems, and the choices must be governed by the firm’s competitive needs.
Business as well as technical specifications need to be considered in designing an MPC system.
Edited
Just-in Time system has been defined and identified worldwide by many researchers and practitioners for world class manufacturing. This system has been accepted as a systematic approach to achieve competitiveness and excellence in manufacturing by many researchers and practioners in many countries in last three decades. This system has potential to compete in the present scenario of rapid development and growth of industrialization.
The objectives of JIT are achieved through several physical systems or projects. Some of JIT objectives are as follows: • To reduce the set-up times and lot sizes. • To achieve ‘zero defects’ goal in manufacturing. • To focus on continuous improvement. • To concentrate on involving workers and using their knowledge to a greater extent. • Layout of equipments in such a way so as to minimizes both travel distances and inventories between the machines. • To reduce inventories and thus economize on inventory carrying costs. • To eliminate waste (such as long set-up times, zig-zag material flow, scrap, machine breakdown, higher stocks, rework, inspection etc.). • To identify any problem related to waste and solve that through total employees involvement. • To eliminate all non- value adding activities by systematically identifying these. • To cross –train the workers in multi-functions to maintain and enable them to run several machines at a time.
The primary inputs of MRP are a bill of materials, which tells the composition of a finished product; a master schedule, which tells how much finished product is desired and when; and an inventory record file, which tells how much inventory is on hand or on order. The planner processes this information to determine the net requirements for each period of the planning horizon.
Inventory Record file: It is mandatory to have accurate current data on inventory status. This can be accomplished by utilising a computerised inventory system which maintains inventory record file or item master file. A definition of time for raw materials, components and assempblies must be established in inventory record file.
Advantages & Disadvantages of a Computerized Inventory Management System
No matter the nature of your business, you need to keep track of the products your firm has on hand. Keeping an accurate inventory is critical to lowering costs and providing a more streamlined operation. As a business owner, you can rely on traditional hand counting methods or institute some form of computerized inventory control. Both approaches have their benefits and drawbacks, and it is important to weigh the relative advantages carefully.
Speed and Efficiencybe
A computerized inventory management system makes everything from inputting information to taking inventory easier. Doing a hand count of inventory can take days, but with a computerized inventory management system, the same process can be done in a matter of hours.
Document Generation
Once the computerized inventory management system is in place, managers and workers can use it to automatically generate all kinds of documents, from purchase orders and checks to invoices and account statements. Managers can also use the system to automatically order products when they run low.
Timely Data
With a manual system, the data is only as accurate and up to date as the last hand count. With a computerized inventory management system, the management team can pull a report and instantly see how many units are on the floor, how many have sold and which products are selling the fastest.
Reliance on Technology
With a computerized inventory management system, the company is at the mercy of its technology. Outside factors like a power failure or the loss of Internet or network connectivity can render the system temporarily useless.
Accuracy Issues
A computerized system alone does not ensure accuracy, and the inventory data is only as good as the data entry that created it. Companies that plan to use a computerized inventory management system need to have a system in place to validate their data and check the numbers reported by the system. A select hand count or targeted audit may be necessary to ensure the integrity of the system.
Risk of Fraud
Any computerized system carries the risk of intrusion, and with a computerized inventory management system comes the risk of fraud as well. A dishonest vendor could hack the system to receive payment for products never delivered, or a dishonest employee could redirect checks to themselves.
Advantages & Disadvantages of a Computerized Inventory Management System
No matter the nature of your business, you need to keep track of the products your firm has on hand. Keeping an accurate inventory is critical to lowering costs and providing a more streamlined operation. As a business owner, you can rely on traditional hand counting methods or institute some form of computerized inventory control. Both approaches have their benefits and drawbacks, and it is important to weigh the relative advantages carefully.
Speed and Efficiencybe
A computerized inventory management system makes everything from inputting information to taking inventory easier. Doing a hand count of inventory can take days, but with a computerized inventory management system, the same process can be done in a matter of hours.
Document Generation
Once the computerized inventory management system is in place, managers and workers can use it to automatically generate all kinds of documents, from purchase orders and checks to invoices and account statements. Managers can also use the system to automatically order products when they run low.
Timely Data
With a manual system, the data is only as accurate and up to date as the last hand count. With a computerized inventory management system, the management team can pull a report and instantly see how many units are on the floor, how many have sold and which products are selling the fastest.
Reliance on Technology
With a computerized inventory management system, the company is at the mercy of its technology. Outside factors like a power failure or the loss of Internet or network connectivity can render the system temporarily useless.
Accuracy Issues
A computerized system alone does not ensure accuracy, and the inventory data is only as good as the data entry that created it. Companies that plan to use a computerized inventory management system need to have a system in place to validate their data and check the numbers reported by the system. A select hand count or targeted audit may be necessary to ensure the integrity of the system.
Risk of Fraud
Any computerized system carries the risk of intrusion, and with a computerized inventory management system comes the risk of fraud as well. A dishonest vendor could hack the system to receive payment for products never delivered, or a dishonest employee could redirect checks to themselves.
Advantages & Disadvantages of a Computerized Inventory Management System
No matter the nature of your business, you need to keep track of the products your firm has on hand. Keeping an accurate inventory is critical to lowering costs and providing a more streamlined operation. As a business owner, you can rely on traditional hand counting methods or institute some form of computerized inventory control. Both approaches have their benefits and drawbacks, and it is important to weigh the relative advantages carefully.
Speed and Efficiencybe
A computerized inventory management system makes everything from inputting information to taking inventory easier. Doing a hand count of inventory can take days, but with a computerized inventory management system, the same process can be done in a matter of hours.
Document Generation
Once the computerized inventory management system is in place, managers and workers can use it to automatically generate all kinds of documents, from purchase orders and checks to invoices and account statements. Managers can also use the system to automatically order products when they run low.
Timely Data
With a manual system, the data is only as accurate and up to date as the last hand count. With a computerized inventory management system, the management team can pull a report and instantly see how many units are on the floor, how many have sold and which products are selling the fastest.
Reliance on Technology
With a computerized inventory management system, the company is at the mercy of its technology. Outside factors like a power failure or the loss of Internet or network connectivity can render the system temporarily useless.
Accuracy Issues
A computerized system alone does not ensure accuracy, and the inventory data is only as good as the data entry that created it. Companies that plan to use a computerized inventory management system need to have a system in place to validate their data and check the numbers reported by the system. A select hand count or targeted audit may be necessary to ensure the integrity of the system.
Risk of Fraud
Any computerized system carries the risk of intrusion, and with a computerized inventory management system comes the risk of fraud as well. A dishonest vendor could hack the system to receive payment for products never delivered, or a dishonest employee could redirect checks to themselves.
Net requirements planning
The net requirements calculation is carried out in MRP in the planning run after the planning file check and at plant level. The system checks whether it is possible to cover requirements with the plant stock and fixed receipts already planned. In the case of a shortage the system creates a procurement proposal.
Gross requirements Planning:
The make-to-stock strategy gross requirements planning is particularly useful in mass production environments; it is often combined with repetitive manufacturing. This strategy is particularly useful if you need to produce, regardless of whether you have stock or not. For instance, steel or cement producers might want to use this strategy because they cannot shut down production; a blast furnace or a cement factory must continue to produce, even if this means having to produce to stock.
This strategy is also frequently used if there is a Material Requirements Planning system in a legacy system that needs to be linked which serves as a production execution system.
Thank you for being a part of this session. I look forward to taking your questions in the Q&A session soon to follow.