Inventory Management | Concepts, Examples and Solved Problems
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- čas přidán 22. 07. 2024
- Link to problems solved in the video: goo.gl/QUK511
Covers following topics,
00:00 Overview
00:37 Inventory
01:14 Types of inventories
02:15 Functions of inventory
04:38 Objective of inventory control
06:23 Effective inventory management
08:07 Inventory counting system
11:46 Key inventory terms
12:56 ABC classification system
15:02 Cycle counting
16:46 Economic Order Quantity (EOQ) models
17:17 Assumptions of EOQ model
18:05 Inventory cycle
19:34 Total cost calculation
20:52 Cost minimization goal
22:13 Deriving the EOQ
23:10 Economic Production Quantity (EPQ)
23:42 Economic Run Size
26:30 Quantity discounts
27:18 Total costs with PD
27:56 Total costs with quantity discounts
28:16 Problems and worked out solution
32:27 When to reorder with EOQ ordering?
33:10 Safety stock
33:45 Reorder point
34:39 Fixed order interval model
36:19 Single period model
37:47 Worked out problem
38:54 Discrete stocking levels
This is very simple explanation of controlling tools of Inventory management, sir plz keep on doingbsuch topics, it to the point n simplest of any vedios tutorials, thanks...
Thanks for comments!
thank you sir. it was really useful. keep going good work
You are welcome!
thank you so much. This will help me a lot. This is the exact ppt we are using in our class.
That's good to hear!
I dont mean to be so offtopic but does anybody know a trick to log back into an Instagram account..?
I was stupid forgot the account password. I would appreciate any tricks you can give me!
Thank you so much ! Still very useful.
You are welcome!
best explanation keep the good work going..liked it
Thanks for comments!
I learnt so much, thank you! :) Also for not talking too fast, you are so easy to follow :) Merci!!
you are welcome!
cool video, thanks for sharing!
Thanks for comments!
Amazing video, thank you sir.
You are welcome!
Hello sir, can you please help where which areas of inventory optimization , AI is used
You can get some ideas from this link:
medium.com/@RemiStudios/artificial-intelligence-for-inventory-management-c8a9c0c2a694
Thanks so much for this video. I have a market planning analyst interview tomorrow for a food service distribution company and I need to sound like I know what I'm talking about 🤣
Glad it was helpful!
Thank you so much sir.
It was very helpful.
Thanks for comments!
Hey Dr. Bharatendra Rai, thank you so much for this video! On Exercise 10 at 32:20, I didn't understand how 516,4 tonnes turned into 10320 bags... Can you explain to me? Great video, thank you!!!!!
Each ton equals 20 bags, so 516.4*20 = 10328
please direct me on how to write a report on inventory management
Sorry saw this today. Hope you are all set.
Thanks
Welcome!
Where can we find the homework questions you solved at the end?
see link in the description area.
Keep up the good work
Thanks for comments!
Isnt ABC analysis dependent on annual value of consumption and not the unit cost?
Depends on situation and application area. many times it is done based on fast versus slow moving items.
Okay. So basically no strict domain. Thank you!
+Souvik Pal correct!
thank you so much
+Sunny Pandey welcome!
Very informative
Can I get the reference of the book please
Operations Management by William J Stevenson
Sir kindly upload video based on EOQ questions cuz my professor doesn't teach so well in my university
Sorry saw this today. Hope you are all set.
thank u sir thanks for speak english there are lots of indian lectures speak hindi
Most welcome!
Greetings sir🙏🙏all else equal, a firm that holds safety stock of inventory will have a lower level of average inventory than firm that doesnot. Is it true or false?? Please provide me answer with reason sir🙏🙏Plz reply sir🙏🙏
A firm with no safety stock will see more stock out situations.
@@bkrai thankyou sir for ur reply😍
Welcome!
This video was good too but half of the examples you ve given got cut in right side of video.
Thanks for the feedback!
21:44 ?
At that point discussing different values of Q.
Examaple : 4.0. Value of P = Unit price ? is not given
The formula for TC has no P.
@@bkrai
TC = (Q/2)H + (D/Q)S + PD
Where P = Unit Price.
BACK TO MY QUERY ON EXAMPLE 4.0 PLEASE
Why your just reading the ppp line by line why your not trying to explain a bit?
Appreciate your feedback, thanks!
21:40 - i really wish your writing on the board was not cut off. I really needed to see that.
Did this few years ago. But should be able to easily figure out based on the audio.
@@bkrai yes, I was fine thanks!
you are welcome!
how a u
good, thx!