Authorised by Academic Registrar, April 1996
Objectives On completion of this subject, students should be able to describe various functions of inventory and their importance in relation to customer service; identify and apply different models in planning and control of commercial and industrial operations; and apply quantitative techniques to achieve efficiency in the utilisation of resources and inventory investment.
Synopsis Stock information and functions of inventory, demand forecasting and market analysis, production planning and control in manufacturing and service industries, material requirement planning, just-in-time and in-process inventory, distribution inventory systems, use of computer-based inventory management systems.
Assessment Assignment: 40% + Examination (3 hours): 60%