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  • Summary: Collaborative Planning, Forecasting and Replenishment (CPFR): A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    SCRC Article Library Summary Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Summary Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Published on Jan 31 2011 by Cecil Bozarth Ph D Professor of Operations Supply Chain Management Summary CPFR has its roots in Efficient Consumer Response ECR but goes further by formalizing the planning sales and order forecasting and exception handling activities The CPFR process model consists of 4 major processes Strategy and planning Demand and supply management Execution Analysis The 4 major processes are further subdivided into 8 collaboration tasks Each collaboration task has corresponding enterprise tasks most of which retailers and manufacturers are already doing CPFR provides the framework for coordinating these efforts To implement CPFR many manufacturers use cross functional customer teams while many retailers use cross functional category teams Such teams have the benefit of simplifying both inter firm and intra firm coordination Categories SCM Resources SCM Tutorials CPFR Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Organizational Implications Collaborative Planning Forecasting and Replenishment CPFR A Tutoria CPFR Model Collaborative Planning Forecasting and Replenishment CPFR A Tutorial CPFR Model 1 Strategy and Planning Collaborative Planning Forecasting and Replenishment CPFR CPFR Model 2 Demand Supply Management Collaborative Planning Forecasting Replenishment CPFR Model 3 Execution Collaborative Planning Forecasting and Replenishment CPFR A Tutorial CPFR Model 4 Analysis Exception Management Collaborative Planning Forecasting Replenishment CPFR Model 4 Analysis Performance Assessment and Collaboration Collaborative Planning Forecas References Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Professional Resources SCM Articles SCM Resources SCM Terms Supply Chain Management Basics SCM Basics Tariffs and Tax Primer NAICS Navigator SCM Blog Business Process Outsourcing Forecasting Healthcare Supply

    Original URL path: https://scm.ncsu.edu/scm-articles/article/summary-collaborative-planning-forecasting-and-replenishment-cpfr-a-tutoria (2016-04-30)
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  • REFERENCES: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Professionals SCM Research Resources SCM Pro Resources SCM Articles SCM White Papers SCM SCRC Director s Blog SCM Tutorials SCM Video Insights Library SCM Insights Polls SCM Topics SCM Research SCRC Article Library REFERENCES Inventory Management Models A Tutorial REFERENCES Inventory Management Models A Tutorial Published on Jan 30 2011 by Cecil Bozarth PhD REFERENCES Most introductory textbooks in Operations and Supply Chain Management offer a good discussion of inventory systems Inventory functions and drivers independent demand models and safety stock calculations are routinely covered in these books One possible source Cecil Bozarth and Robert Handfield Introduction to Operations and Supply Chain Management Prentice Hall 2006 ISBN 0139446206 In addition there are many books that deal exclusively with inventory management some of which are decidedly more academic in nature than others Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial ECONOMIC ORDER QUANTITY EOQ MODEL Inventory Management Models A Tutorial REORDER POINT FORMULA Inventory Management Models A Tutorial SAFETY STOCK ANALYSIS Inventory Management Models A Tutorial PERPETUAL SYSTEM Inventory Management Models A Tutorial PERIODIC REVIEW SYSTEM Inventory Management Models A Tutorial SUMMARY Inventory Management Models A Tutorial Professional Resources SCM Articles SCM Resources SCM Terms Supply Chain Management Basics SCM Basics Tariffs and Tax Primer NAICS Navigator SCM Blog Business Process Outsourcing Forecasting Healthcare Supply Management Supply Chain Analytics SCM Tutorials CPFR Forecasting Inventory Management Procurement SCM Features Hot Topics Lessons Learned Facts Figures SC Security SCM Topics Inventory Management Supply Chain Procurement Process

    Original URL path: https://scm.ncsu.edu/scm-articles/article/references-inventory-management-models-a-tutorial (2016-04-30)
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  • REORDER POINT FORMULA: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    The reorder point formula allows us to determine the safety stock SS needed to achieve a certain cycle service level In general the longer the lead times are and the greater the variability of demand and lead times the more SS we will need Revisiting the Reorder Point Formula Fill Rate vs Cycle Service Level Revisiting the Reorder Point Formula Where the formula came from is not important but notice the implications for safety stock What happens if lead time is constant What happens if the demand rate is constant What happens if both are constant If you wanted to reduce the amount of safety stock you hold what is your best option Fill Rate vs Cycle Service Level Cycle service level is concerned with our ability to meet demand during the reorder cycle when we are most in danger of running out In contrast fill rate refers to the percent of demand that we are able to meet from stock across all time periods Rule of Thumb The resulting fill rate for a product will be higher than the cycle service level The right cycle service level for a given fill rate can be found through experience Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial SAFETY STOCK ANALYSIS Inventory Management Models A Tutorial PERPETUAL SYSTEM Inventory Management Models A Tutorial ECONOMIC ORDER QUANTITY EOQ MODEL Inventory Management Models A Tutorial PERIODIC REVIEW SYSTEM Inventory Management Models A Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial REFERENCES Inventory Management Models

    Original URL path: https://scm.ncsu.edu/scm-articles/article/reorder-point-formulainventory-management-models-a-tutorial (2016-04-30)
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  • CPFR Model: Collaborative Planning, Forecasting and Replenishment (CPFR): A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    30 2011 by Cecil Bozarth Ph D Professor of Operations Supply Chain Management CPFR Model As defined by Voluntary Inter Industry Commerce Standards VICS Association Why the Need for a Standard Process Model The CPFR Process Model CPFR Key Tenets Why the Need for a Standard Process Model CPFR is being implemented at thousands of companies across the globe Many companies such as GSK are implementing CPFR with multiple retailers A standard vision is needed to provide a common understanding of Terminology and definitions The steps needed to implement CPFR Data and information system requirements Best practices The process model described here is from the 18 May 2004 overview provided by VICS The CPFR Process Model VICS CPFR Model CPFR Key Tenets The consumer is the ultimate focus of all efforts Buyers retailers and sellers manufacturers collaborate at every level Joint forecasting and order planning reduces surprises in the supply chain The timing and quantity of physical flows is synchronized across all parties Promotions no longer serve as disturbances in the supply chain Exception management is systemized Categories SCM Tutorials CPFR Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Organizational Implications Collaborative Planning Forecasting and Replenishment CPFR A Tutoria CPFR Model 1 Strategy and Planning Collaborative Planning Forecasting and Replenishment CPFR CPFR Model 2 Demand Supply Management Collaborative Planning Forecasting Replenishment CPFR Model 3 Execution Collaborative Planning Forecasting and Replenishment CPFR A Tutorial CPFR Model 4 Analysis Exception Management Collaborative Planning Forecasting Replenishment CPFR Model 4 Analysis Performance Assessment and Collaboration Collaborative Planning Forecas Summary Collaborative Planning Forecasting and Replenishment CPFR A Tutorial References Collaborative Planning Forecasting and Replenishment CPFR A Tutorial Professional

    Original URL path: https://scm.ncsu.edu/scm-articles/article/cprf-model-collaborative-planning-forecasting-and-replenishment-cpfr-a-tuto (2016-04-30)
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  • SAFETY STOCK ANALYSIS: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    of a Stockout EXAMPLE Finding Z Safety Stock When both lead time demand are constant you know exactly what the reorder point is Under these assumptions Reorder point demand during lead time Where demand per time period lead time What Happens when either Demand or Lead Time Varies Variances are caused by changes in demand rates and lead times Additional inventory beyond amount needed to meet average demand during lead time Protect against uncertainties in demand or lead time Balance the costs of stocking out against the cost of holding extra inventory When holding safety stock SS the average inventory level is Shown graphically What is the Chance of a Stockout Recalculating the reorder point to include safety stock GRAPHIC EXAMPLE Calculating averages and variances of demand and lead time using historical data Historical data for 10 weeks of demand as well as 8 previous orders Finding Z Z number of standard deviations above average demand during lead time The higher z is The lower the risk of stocking out The higher the average inventory level Typical choices for Z Z 1 29 90 cycle service level Z 1 65 95 cycle service level Z 2 33 99 cycle service level Cycle service level Once the reorder is placed the probability that stocks will be depleted before the new order arrives Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial ECONOMIC ORDER QUANTITY EOQ MODEL Inventory Management Models A Tutorial REORDER POINT FORMULA Inventory

    Original URL path: https://scm.ncsu.edu/scm-articles/article/safety-stock-analysis-inventory-management-models-a-tutorial (2016-04-30)
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  • PERPETUAL SYSTEM: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    Library SCM Insights Polls SCM Topics SCM Research SCRC Article Library PERPETUAL SYSTEM Inventory Management Models A Tutorial PERPETUAL SYSTEM Inventory Management Models A Tutorial Published on Jan 28 2011 by Cecil Bozarth PhD PERPETUAL SYSTEM The two classic systems for managing independent demand inventory are periodic review and perpetual review systems This section focuses on the Perpetual System What is a Perpetual System Q and Average Inventory Level What is the Best Order Size Q What is a Perpetual System Inventory level is constantly monitored and a new order place when a pre established reorder point R is met Q and Average Inventory Level As the order quantity doubles so does average inventory Q 2 What is the Best Order Size Q Inventory related costs Order preparation costs setup costs Inventory carrying costs Shortage customer service costs Other considerations Out of pocket or opportunity cost Fixed variable or some mix of the two Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial ECONOMIC ORDER QUANTITY EOQ MODEL Inventory Management Models A Tutorial REORDER POINT FORMULA Inventory Management Models A Tutorial SAFETY STOCK ANALYSIS Inventory Management Models A Tutorial PERIODIC REVIEW SYSTEM Inventory Management Models A Tutorial SUMMARY Inventory Management Models A Tutorial REFERENCES Inventory Management Models A Tutorial Professional Resources SCM Articles SCM Resources SCM Terms Supply Chain Management Basics SCM Basics Tariffs and Tax Primer NAICS Navigator SCM Blog Business Process Outsourcing Forecasting Healthcare Supply Management Supply Chain Analytics SCM Tutorials CPFR

    Original URL path: https://scm.ncsu.edu/scm-articles/article/perpetual-system-inventory-management-models-a-tutorial (2016-04-30)
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  • ECONOMIC ORDER QUANTITY (EOQ) MODEL: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    quantity EOQ is the order quantity that minimizes total holding and ordering costs for the year Even if all the assumptions don t hold exactly the EOQ gives us a good indication of whether or not current order quantities are reasonable What is the EOQ Model What Would Holding and Ordering Costs Look Like for the Years Total Relevant Cost TRC Economic Order Quantity EOQ EOQ Formula Same Problem What is the EOQ Model Cost Minimizing Q Assumptions Relatively uniform known demand rate Fixed item cost Fixed ordering and holding cost Constant lead time Of course these assumptions don t always hold but the model is pretty robust in practice What Would Holding and Ordering Costs Look Like for the Years A Demand for the year Cp Cost to place a single order Ch Cost to hold one unit inventory for a year Total Relevant Cost TRC Yearly Holding Cost Yearly Ordering Cost Relevant because they are affected by the order quantity Q Economic Order Quantity EOQ EOQ Formula Same Problem Pam runs a mail order business for gym equipment Annual demand for the TricoFlexers is 16 000 The annual holding cost per unit is 2 50 and the cost to place an order is 50 What is the economic order quantity Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial PERIODIC REVIEW SYSTEM Inventory Management Models A Tutorial PERPETUAL SYSTEM Inventory Management Models A Tutorial SAFETY STOCK ANALYSIS Inventory Management Models A Tutorial

    Original URL path: https://scm.ncsu.edu/scm-articles/article/economic-order-quantity-eoq-model-inventory-management-models-a-tutorial (2016-04-30)
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  • FUNCTIONS AND DRIVERS OF INVENTORY: Inventory Management Models : A Tutorial - SCM | Supply Chain Resource Cooperative (SCRC) | North Carolina State University
    SCM Articles SCM White Papers SCM SCRC Director s Blog SCM Tutorials SCM Video Insights Library SCM Insights Polls SCM Topics SCM Research SCRC Article Library FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial FUNCTIONS AND DRIVERS OF INVENTORY Inventory Management Models A Tutorial Published on Jan 28 2011 by Cecil Bozarth PhD FUNCTIONS AND DRIVERS OF INVENTORY Inventory serves a useful purpose in the supply chain That said firms can help minimize the need for inventory by carefully managing those factors that drive inventory levels up Functions of Inventory Four Inventory Drivers Functions of Inventory Transit stock pipeline inventory Cycle stock Safety stock buffer inventory Anticipation inventory Others Smoothing inventories Hedge inventories Four Inventory Drivers Demand Capacity Mismatches Smoothing inventories Demand Process Volume Mismatches Cycle stocks Demand Supply Uncertainty Safety stocks Demand Supply chain lead time mismatches Anticipation inventories Categories SCM Topics Inventory Management Supply Chain SCM Tutorials Inventory Management Read the Supply Chain Management Professional Newsletter Read the latest supply chain research articles and news as soon as we post them Privacy Policy Related Articles Introduction Inventory Management Models A Tutorial INDEPENDENT VS DEPENDENT DEMAND INVENTORY SYSTEMS An EXAMPLE Inventory Management Models Tutorial ECONOMIC ORDER QUANTITY EOQ MODEL Inventory Management Models A Tutorial REORDER POINT FORMULA Inventory Management Models A Tutorial SAFETY STOCK ANALYSIS Inventory Management Models A Tutorial PERPETUAL SYSTEM Inventory Management Models A Tutorial PERIODIC REVIEW SYSTEM Inventory Management Models A Tutorial REFERENCES Inventory Management Models A Tutorial SUMMARY Inventory Management Models A Tutorial Professional Resources SCM Articles SCM Resources SCM Terms Supply Chain Management Basics SCM Basics Tariffs and Tax Primer NAICS Navigator SCM Blog Business Process Outsourcing Forecasting Healthcare Supply Management Supply Chain Analytics SCM Tutorials CPFR Forecasting Inventory Management Procurement SCM Features Hot Topics Lessons Learned Facts Figures SC Security SCM

    Original URL path: https://scm.ncsu.edu/scm-articles/article/functions-and-drivers-of-inventory-inventory-management-models-a-tutorial (2016-04-30)
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