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Principles of inventory and materials management

Author: Richard J Tersine
Publisher: New York : North-Holland, ©1988.
Edition/Format:   Print book : English : 3rd edView all editions and formats
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Additional Physical Format: Online version:
Tersine, Richard J.
Principles of inventory and materials management.
New York : North-Holland, ©1988
(OCoLC)574142973
Online version:
Tersine, Richard J.
Principles of inventory and materials management.
New York : North-Holland, ©1988
(OCoLC)608342993
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Richard J Tersine
ISBN: 0444011625 9780444011626
OCLC Number: 15856110
Description: xii, 553 pages : illustrations ; 24 cm
Contents: Machine derived contents note: Chapter 1 Introduction i --
Inventory 3 --
Types of Inventory 4 --
Organizational Categories and Inventory Problems 4 --
Functions of Inventory 6 --
Inventory Problem Classifications 8 --
Properties of Inventory 11 --
Inventory Costs 13 --
Cost Accumulation Profile 15 --
Conflicting Goals 16 --
The Inventory Flow Cycle 19 --
Financial Considerations 20 --
Business Cycle Influence 25 --
Just-in-Time 26 --
Conclusion 27 --
Questions 28 --
Cases 29 --
Chapter 2 Forecasting and Market Analysis 33 --
The Forecasting Function 37 --
Time Series Analysis 41 --
Forecast Error 43 --
Last Period Demand 45 --
Arithmetic Average 46 --
Moving Average 46 --
Regression Analysis 48 --
Exponentially Weighted Moving Average (EWMA) 53 --
EWMA with Trend Correction 57 --
EWMA with Seasonal Correction 60 --
EWMA with Trend and Seasonal Corrections 63 --
EWMA Overview 65 --
Box-Jenkins Models 69 --
Soliciting Opinions 70 --
Economic Indicators 71 --
Econometric Models 74 --
Group Forecasting 75 --
Conclusion 78 --
Questions 80 --
Problems 81 --
Cases 82 --
Selected Bibliography 86 --
Mathematical Abbreviations and Symbols 87 --
Summary of Formulas 88 --
Chapter 3 Independent Demand Systems: --
Deterministic Models 89 --
Fixed Order Size Systems 90 --
Economic Order Quantity (EOQ)-Single Items 91 --
Backordering 95 --
Quantity Discounts 99 --
Special Sale Prices 106 --
Known Price Increases 110 --
EOQ Sensitivity 114 --
Batch-Type Production Systems 121 --
Economic Production Quantity (EPQ)-Single Items 121 --
Make or Buy Decisions 126 --
Economic Production Quantity (EPQ)-Multiple Items 128 --
Runout Time (ROT) Method 131 --
Aggregate Runout Time (AROT) Method 133 --
Fixed Order Interval Systems 135 --
Economic Order Interval (EOI)-Single Items 136 --
Economic Order Interval (EOI)-Multiple Items 139 --
Conclusion 141 --
Questions 142 --
Problems 143 --
Cases 148 --
Mathematical Abbreviations and Symbols 152 --
Summary of Formulas 154 --
Appendix A. Determination of Single Variable Maximum --
and Minimum Points 156 --
Appendix B. EOQ Quantity Discount Approximation 156 --
Appendix C. Derivation of EOQ with Backordering 158 --
Chapter 4 Discrete Demand Systems: --
Deterministic Models 160 --
Lot-for-Lot Ordering 163 --
Periodic Order Quantity 163 --
Wagner-Whitin Algorithm 164 --
Silver-Meal Algorithm 168 --
Part-Period Algorithm 170 --
Incremental Part-Period Algorithm 173 --
Implications for Discrete Lot Sizing 174 --
Conclusion 176 --
Questions 177 --
Problems 178 --
Cases 180 --
Mathematical Abbreviations and Symbols 182 --
Chapter 5 Independent Demand Systems: --
Probabilistic Models 183 --
Safety Stock 184 --
Statistical Considerations 189 --
Normal Distribution 192 --
Poisson Distribution 193 --
Negative Exponential Distribution 193 --
Known Stockout Costs 193 --
Constant Demand and Constant Lead Time 194 --
Variable Demand and Constant Lead Time 194 --
Constant Demand and Variable Lead Time 206 --
Variable Demand and Variable Lead Time 208 --
Service Levels 211 --
Service per Order Cycle 212 --
Service per Year 218 --
Fraction of Units Demanded 219 --
Fraction of Operating Days 222 --
Imputed Service Level Stockout Costs 223 --
Fixed Order Interval Systems 224 --
Conclusion 226 --
Questions 228 --
Problems 229 --
Cases 233 --
Mathematical Abbreviations and Symbols 239 --
Summary of Formulas 240 --
Appendix A. Probability Distribution Convolutions 241 --
Appendix B. Normal Distribution 243 --
Appendix C. Chi-Square Goodness-of-Fit Test 244 --
Appendix D. Order Quantity and Reorder Point Dependence 248 --
Appendix E. Joint Probability Distributions 253 --
Chapter 6 Inventory System Changes and Limitations 261 --
Inventory System Redesign 263 --
Releasing Working Capital 266 --
Inventory System Constraints 266 --
Exchange Curves 268 --
Working Capital Restrictions 272 --
Storage Space Restrictions 274 --
Working Capital and Storage Space Restrictions 277 --
Overview of Constraints 279 --
Excess Stock Determination 280 --
An Excess Model 282 --
Minimum Economic Salvage Value 286 --
Lead Time Influence 288 --
Questions 289 --
Problems 289 --
Cases 290 --
Mathematical Abbreviations and Symbols 295 --
Summary of Formulas 296 --
Appendix A. Optimizing Constrained Functions 296 --
Chapter 7 Single Order Quantities 300 --
Known Demand, Known Lead Time 302 --
Known Demand, Variable Lead Time 303 --
Variable Demand, Known Lead Time 304 --
Benefit (Marginal) Analysis 307 --
Cost Analysis 310 --
Variable Demand, Variable Lead Time 314 --
Conclusion 314 --
Questions 315 --
Problems 315 --
Cases 319 --
Mathematical Abbreviations and Symbols 324 --
Summary of Formulas 325 --
Chapter 8 Dependent Demand Systems: --
Material Requirements Planning (MRP) 326 --
Closed-Loop MRP 328 --
MRP Inputs 330 --
MRP Outputs 333 --
Product Structures 335 --
Low Level Coding 338 --
MRP Computations 338 --
An EOQ-MRP Comparison 352 --
MRP Types 364 --
MRP Overview 365 --
Capacity Planning and Control 367 --
Conclusion 373 --
Questions 374 --
Problems 375 --
Cases 379 --
Appendix A. Bills of Materials (BOM) 385 --
Chapter 9 Just-In-Time and In-Process Inventory 395 --
In-Process Inventory 396 --
Lead Time 398 --
Setup Time 400 --
Time Cycle Charts 401 --
Bottleneck Work Centers 402 --
Input/Output Control 403 --
Critical Ratio Technique 407 --
Just-In-Time 409 --
Elimination of Waste 410 --
Inventory as Waste 411 --
Pursuit of Perfection 412 --
Repetitive Manufacturing and JIT 415 --
Conclusion 418 --
Questions 418 --
Problems 419 --
Cases 420 --
Chapter 10 Distribution Inventory Systems 425 --
Push vs. Pull Distribution Systems 428 --
Time-Phased Order Point 430 --
Distribution Requirements Planning 432 --
Fair Shares Allocations 438 --
Lot Sizing and Safety Stock 440 --
Conclusion 441 --
Questions 442 --
Problems 442 --
Cases 444 --
Chapter 11 Inventory Valuation and Measurement 446 --
Flow of Costs 448 --
FIFO 448 --
LIFO 451 --
Average Cost 453 --
Specific Cost 456 --
Inventory Records 458 --
Periodic Count Method 460 --
Cycle Count Method 461 --
Inventory Security 464 --
Questions 465 --
Problems 466 --
Cases 468 --
Chapter 12 Simulation 473 --
Simulation Categories 475 --
Monte Carlo Simulation 476 --
Perpetual Inventory Simulation Problem 479 --
Periodic Inventory Simulation Problem 484 --
Simulation of Joint Probability Distributions 486 --
Length of Simulation Run 489 --
Conclusion 490 --
Questions 490 --
Problems 491 --
Cases 494 --
Mathematical Abbreviations and Symbols 499 --
Chapter 13 Aggregate Inventory Control 500 --
Types of Control Systems 502 --
Perpetual Inventory System 504 --
Two-Bin Inventory System 505 --
Periodic Inventory System 506 --
Optional Replenishment Inventory System 508 --
Distribution Requirements Planning Inventory System 509 --
Single Order Quantity Inventory System 510 --
Material Requirements Planning Inventory System 510 --
Just-in-Time Inventory System 511 --
Selective Inventory Control 512 --
Inventory System Development 516 --
Inventory System Improvement 519 --
Aggregate Inventory Measurement 522 --
Aggregate Inventory Reduction 523 --
Raw Materials, Supplies, and Finished Goods 524 --
In-Process Inventory 527.
Responsibility: Richard J. Tersine.
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