Inventory Management in Operations Management
ฝัง
- เผยแพร่เมื่อ 24 ก.ค. 2024
- #inventory #rawmaterials #workinprocess #finishedgoods
Link to full Operations Management Course: • Operations Management ...
There are several different types of inventory that businesses may maintain. Some of the most common types of inventory include:
Raw materials inventory: This includes the materials that are used in the production of goods, such as wood, steel, plastic, and other basic materials.
Work-in-progress inventory: This is inventory that is in the process of being transformed into finished goods. Examples include partially assembled products, goods that are being packaged, or items that are being customized for specific customers.
Finished goods inventory: This includes the completed products that are ready for sale to customers.
Maintenance, Repair, and Operating (MRO) inventory: This includes items that are necessary for the maintenance, repair, or operation of equipment or facilities. Examples include spare parts, lubricants, cleaning supplies, and office supplies.
Safety stock inventory: This is inventory that is held as a buffer against unexpected demand or supply chain disruptions. It provides a cushion to ensure that the business can continue to operate even if there are unexpected fluctuations in demand or supply.
Understanding the different types of inventory can help businesses manage their inventory levels more effectively, optimize their supply chain, and improve their overall efficiency.
Chapters
00:00 Intro
00:07 - What is Inventory?
00:32 - Raw Materials Inventory
00:52 - Transportation (Pipeline) Inventory
01:05 - Work in Process Inventory
01:31 - Finished Goods Inventory
01:48 - Replacement Parts Inventory
02:09 - Supplies Inventory
02:40 - Safety Stock
03:18 - Stock Out
09:00 - Key Takeaways
References used in this video.
learn.saylor.org/mod/page/vie...
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I'm dying at Top Ise chicken. I will never forget that example XD
😂😂😂 I know right!
😂😂😂 I love Topeyes but that has happen to me before!!!
Funny enough, this happened to someone I know. So it definitely isn't the first time.
Keep doing the lords work
Yes Indeed
Wow!!!!! What a beautiful and clear presentation!!! I couldn’t stop watching your videos!!! One after the other!!
Thank you!!!
You are so welcome! I'm glad you found them to be helpful.
The chicken reference made me laugh so hard 😂 your videos are helping so much with my degree.
LOL - Glad to help!
You’re awesome. Thank you
Thanks and you're welcome, Gabe.
From India 🇮🇳
I have a job interview soon and your videos are just awesome ❤
Thank you! I hope the interview goes well and that you get the job!
Killing me with Top Eye Chicken :)
😅
Hi 😀 Excellent content! Do you recommend a specific book for learning these topics. I love reading texts and was hoping there was a textbook covering these same topics.
I was thinking of buying Operations Management: Sustainability and Supply Chain Management (12th Edition) and was wondering if you recommend it? 😀
Hi - Thanks. I am not familiar with the textbook but it seems like a good one from my research.
lmaooo top ise, i had the same issue with mcdoogles. they were out of nuggets!
Haha!😂😂😂
lol top ise chichen, perfect lol
Ha!
Top eyes 😂😂😂😂
Haha
tacklebox😜
Haha 😅
😂😂 Bro you kill me with "How does a chicken place, run out of CHICKEN???😑🫣☠️ lmao Well the answer to that is because the chicken crosses the road, so they don't have any left. 😅
Hahahaha it had to be. Some things just shouldn’t happen
@@drdhaywood yeah bro. I think that has to be the problem for them to run out like that lol 😆
Ha!
got me too 😂😂😂😂
@@drdhaywood My man thank you for these videos. i got a test tomorrow. My teacher takes 2 hours to explain this and i stil dont understand it. U do it in 10 minutes ahah