GCO3803

Inventory management systems

B Nath

6 points - 4 hours per week - Second semester - Gippsland and distance - Prerequisite GCO2802

Objectives At the completion of this subject students should be able to describe an inventory, its structure and its functions, understand the planning and control aspects of an inventory, recognise and apply appropriate inventory control models in practical situations, design strategies to achieve required service levels, and apply some of the modern analytical techniques to control inventory.

Synopsis This subject studies the characteristics and role of inventories, general concepts of service levels, and provides an introduction to computer systems in a inventory management context. Topics include simple inventory control models, demand forecasting and market analysis, material requirements planning, just-in-time and in-process inventory, distribution inventory systems, and applications in manufacturing and service industries.

Assessment Assignments: 40% - Examination (3 hours): 60%

Prescribed texts

Tersine R S Principles of inventory and materials management 4th edn, Prentice-Hall, 1994

Recommended texts

A comprehensive reading list will be supplied

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