Inventory management systems
B Nath
6 points
* Second semester
* Distance
Objectives On completion of this subject, students will 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 Applications of computers for stock information and order recording, demand forecasting and market analysis, production planning and control in manufacturing and service industries, inventory performance measures and material requirement planning, just-in-time and in-process inventory, distribution inventory systems.
Assessment One assignment: 40%
* Examination (3 hours): 60%
Prescribed texts
Tersine R S Principles of inventory and materials management 4th edn, Prentice-Hall, 1994
Recommended texts
Riggs J L Production systems: Planning, analysis and control 4th edn, Wiley, 1987
Smith S B Computer-based production and inventory control Prentice-Hall, 1989
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