STOCK CONTROL MANAGEMENT
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This document discusses stock management, including maintaining adequate but not excessive stock levels to avoid stockouts while minimizing storage costs. It identifies key objectives of stock management as maintaining adequate stock levels, avoiding excess stock, and informing procurement decisions. Important factors that affect stock levels include storage space, cash availability, storage costs, risk of obsolescence, and delivery delays. Common methods for controlling stock levels mentioned are just-in-time, economic order quantity, first-in first-out, minimum levels, and stock reviews. The document also addresses frame and lens management for eyeglasses.
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This document summarizes inventory control concepts for a Master of Pharmacy program. It defines inventory control as tracking inventory from purchase to sale to ensure enough stock is available to fulfill orders and avoid shortages. The objectives of inventory control are to meet future demand variations, highlight peak sales times, smooth production, and meet customer needs timely. Inventory classification methods and factors affecting control are described. Costs associated with inventory like purchasing, holding, shortage, and other costs are outlined. The economic order quantity formula is provided to balance ordering and handling costs.14. Tracking & Managing Inventory.pptx
14. Tracking & Managing Inventory.pptxDrSnehaUmade1
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This document discusses inventory management and tracking. It defines inventory and inventory management, and outlines their purpose and objectives which include minimizing investments and meeting product demand efficiently. It describes different types of inventory and how inventory relates to supply chain management. The document also discusses forms of demand, inventory control systems, inventory tracking, and why tracking is important for visibility, avoiding shortages and errors.MATERIAL HANDLING
MATERIAL HANDLINGaishuprabhayadav90
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Material management involves planning, organizing, and controlling the flow of materials from initial purchase through distribution. The key aims are to obtain the right quality and quantity of supplies at the right time and place at the lowest possible cost. Effective material management requires forecasting demand, establishing scientific inventory controls like economic order quantity and ABC analysis, following proper procurement and storage procedures, and implementing preventative maintenance and condemnation of equipment when required. Adopting sound material management principles can improve organizational efficiency.Aishh mm
Aishh mmaishuprabhayadav90
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This document discusses material management, which involves planning, organizing, and controlling the flow of materials from initial purchase through operations and distribution. The key objectives of material management are to obtain the right quality and quantity of supplies at the right time, place, and cost. Effective material management requires functions like purchasing, inventory control, storage, and issue/use to be properly managed. Inventory control techniques like determining economic order quantities, re-order levels, and ABC analysis are important to ensure adequate materials are available while minimizing costs.Inventory control Seminar Hospital Inventory
Inventory control Seminar Hospital Inventorypradeepmk8
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This document discusses inventory control in healthcare settings. It defines inventory control and describes various techniques used, including ABC analysis, VED analysis, and FSN analysis. ABC analysis classifies inventory items into categories A, B, and C based on their annual consumption and cost. Category A items require the most control while category C require the least. VED analysis categorizes items based on their criticality as vital, essential, or desirable. FSN analysis looks at consumption patterns to classify items as fast, slow, or non-moving. The document also outlines the objectives, types, and techniques of inventory control as well as the roles and responsibilities of nurses in ensuring proper inventory management.Inventory control
Inventory controlRavi Dandotiya
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Inventory control systems track physical stock levels and balances. Key objectives include meeting demand while controlling costs like storage, space, and product availability. Data collection also provides opportunities. Other goals are keeping inventory at sufficiently high levels for smooth operations while minimizing investment, ensuring continuous supply and meeting customer demand, and reducing costs. Types of inventories include periodic/physical and perpetual. Important terms are par stock, reorder point, and reorder quantity. Effective inventory management balances minimum and maximum stock levels, safety stock, lead times, and pricing methods like average, weighted average, LIFO, FIFO, and standard costs. ABC analysis categorizes items by usage volume and value to prioritize control efforts.final SCM PPT 6-1-23 ppt of mms study in
final SCM PPT 6-1-23 ppt of mms study insorev99926
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This document provides an overview of inventory management and control. It discusses the benefits of inventory management, which include cost savings, customer satisfaction, better decision-making, and reduced risk. It also outlines the objectives of inventory management, which are to minimize production disruptions and keep capital investment in inventories at an optimal level. Some of the challenges of inventory management mentioned include getting accurate stock details, dealing with poor processes, adapting to changing customer demand, and using warehouse space efficiently.inventory control 
inventory control NirajChaudhari23
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The document discusses various inventory control techniques including ABC analysis, VED analysis, and fixed order quantity systems. It describes how inventory turnover ratio is calculated and what it indicates about how quickly a company is selling and replacing stock. Classification methods for materials in inventory and concepts like reorder point are also covered.Material costing.ppt
Material costing.pptManavAhuja14
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This document discusses various techniques for inventory control and material costing. It describes ABC analysis which categorizes inventory into A, B, and C items based on their value and need for control. It also discusses determining minimum, maximum, and reorder levels to manage stock. The economic order quantity formula is presented to determine the optimal order size to minimize total inventory costs. Other techniques covered include proper purchase procedures, store keeping methods like FIFO and LIFO, calculating inventory turnover ratio, and using a perpetual inventory system to continuously track inventory levels.
Materialmanagement&inventorycontrol
Materialmanagement&inventorycontrolManish Pandey
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This document discusses various aspects of material management. It defines material management and its aims, which include getting the right quality, quantity, time, place and cost of supplies. The key objectives of material management are economy in purchasing, demand satisfaction, reserve stock maintenance, consumption stabilization and client service. The document outlines various functional areas, principles, elements and objectives of an effective material management system. It also describes techniques for inventory control, procurement, storage and issue of materials.Inventory Management
Inventory ManagementAbuSayeedMondal2
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Inventory management helps companies track inventory from purchase to sale in order to ensure there are sufficient stock levels to meet customer demand. It aims to balance having enough inventory without overstocking, which ties up cash. Effective inventory management requires identifying trends to time orders correctly and prevent stockouts. Formulas can help calculate optimal reorder points, safety stock levels, and order quantities. Demand planning is also important for inventory management to project future requirements.Inventory control ppt
Inventory control pptNikhil Vaishnav
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The document discusses inventory control in hospitals. It defines inventory control and describes the objectives as maintaining the optimal level of supplies to efficiently order and store just the right amount needed for patients while tracking costs. It outlines different types of inventory including official and unofficial inventories. It also describes concepts like reorder levels, safety stocks, lead times, and costs of ordering, carrying, and shortages. Methods of selective inventory control are provided like ABC analysis.
Portfolio management
Portfolio managementMohammed Arif Pasha
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This topic deals with the diversification of risk through portfolio management using models like markowitz model.Material management
Material managementPushpakalambiga Ramasamy
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This document discusses material management in healthcare settings. It defines material management and describes its aims, purposes, objectives, functional areas, procurement processes, inventory control techniques, and equipment maintenance and condemnation procedures. The key aspects of material management are planning, organizing and controlling the flow of materials from initial purchase through distribution in a scientific manner to achieve the right quality, quantity, time, place and cost of supplies. ABC, VED, SDE, and FSN analyses are inventory control techniques used to prioritize items.Abc analysis
Abc analysisdcntsagar
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Material management involves planning, organizing, and controlling the flow of materials from initial purchase through internal use and distribution. It aims to obtain the right quality and quantity of supplies at the right time and place for the right cost. Key elements include demand estimation, procurement, storage, inventory control, equipment maintenance, and condemnation of unfit materials. Adopting scientific techniques like ABC analysis, VED analysis, and preventative maintenance can help organizations improve efficiency and make optimal use of resources.Inventory Accountant-
Inventory Accountant-Christine Ross Hooksett New Hampshire
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An inventory accountant is responsible for valuing and accounting for a company's inventory assets. Inventory typically involves raw materials, work in progress, and finished goods. The inventory accountant assigns values to inventory at each stage and tracks changes in value as items move through production. Accurately tracking and reporting inventory is important for assessing assets, financial reporting, and maintaining appropriate stock levels to meet customer demand while avoiding excess inventory. Common inventory accounting methods include specific identification, weighted average, FIFO, and LIFO.STOCK CONTROL MANAGEMENT
- 2. Stock management This is a strategic decision that controls the level of investment on stock, show how much of stock you have at any point in time and keep track of it. Objectives: To maintain adequate stocks To avoid excess stock level Procurement decisions. Motive for holding stock Transaction motive Precautionary motive Speculative motive
- 3. Importance of stock management To guard against Pilferage Minimise stock out Striking a balance between too much inventory and little inventory. Establishing minimum level Factors affecting amount of stock available Storage space Cash Storage cost Risk of obsolescence Delivery delays Methods of controlling stock level Just in time ,EOQ, FIFO, Minimum level, stock review
- 4. Management of frames, drugs and lenses. FRAMES To maintain a balance between too little inventory and too much inventory Learn your demographics Determine your mix Lens considerations Getting the best deals Frames categories How much of inventory Value vs price A robust information system
- 5. THANK YOU