This course presents and examines inventory concepts as applied in manufacturing and distribution environments and the inter-relationships between them. It covers objectives, planning levels, demand types, forecasting, order point systems, MRP, different costing types, ABC analysis, order quantities, purchasing, capacity, DRP and warehouse control. Students will be encouraged to apply these concepts at their workplace.
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Upon successful completion of the course, the student will be able to:
Have a basic understanding of the conflicts between marketing, finance, and production when controlling supply, manufacturing planning, and physical distribution.
Know the basis of planning systems, achieving forecasts, and keeping desired inventory levels.
Apply a master production schedule (MPS) to form the link between production planning and manufacturing.
Establish a materials requirements plan (MRP) using lead time and capacities.
Recognize the importance of capacity management.
Use the master production schedule and the materials requirements plan to release orders through production activity control.
Know how and when to purchase at the right time and the right place.
Understand the fundamentals of forecasting techniques.
Recognize the importance of inventory management.
Analyze the requirements for effective warehouse management.
Effective as of Fall 2005
OPMT 1192 is offered as a part of the following programs:
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