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Material Requirements Planning MRP System

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Lessons List | 7 Lesson

Ordering Costs related to Inventory

Ordering Costs related to Inventory

Carrying Costs of Inventory

Carrying Costs of Inventory

Economic Order Quantity EOQ Example

Economic Order Quantity EOQ Example

How to Calculate the Reorder Point

How to Calculate the Reorder Point

Material Requirements Planning MRP System

Material Requirements Planning MRP System

Just In Time JIT Inventory System

Just In Time JIT Inventory System

Enterprise Resource Planning ERP

Enterprise Resource Planning ERP

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Course Description

What are the 4 types of inventory? There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.What are the methods of inventory management? Inventory Management Techniques Economic order quantity. ... Minimum order quantity. ... ABC analysis. ... Just-in-time inventory management. ... Safety stock inventory. ... FIFO and LIFO. ... Reorder point formula. ... Batch tracking.What is the main purpose of inventory management? The primary purpose of inventory management is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory.

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