Business Management: Decision Making Tools

Inventory Policies Inventory policies : inventory definition, stock classification, inventory control issues, continuous and periodic inventory review, order size What Is Inventory? Inventory (stock)  – materials in a supply chain or in a segment of a supply chain, expressed in quantities, locations and/or values, not used at present, but kept for the future use, consumption or sale (Krzyżaniak, 2009).

ABC Classification System The method essence Sanders mentioned that objects (items) in the supply chain are not of equal importance. Some are very important, and others are less important. For example, specialized surgical equipment is important for a hospital, while latex gloves are less important ( Sanders, 2013 ). ABC classification is a ranking system for identifying and grouping items in terms of how useful they are for achieving business goals. The ABC system classifies logistics object according to its size, volume, or cash value added to aggregate category of the firm (inventory or overall costs, turnover, etc.). Classifying inventory based on degree of importance allows us to give priority to important objects and manage those with care. It also prevents us from wasting precious resources on managing objects that are of less importance. In the context of inventory control, typically thousands of independent demand items are held in inventory by a company, espe...

Resilient Supply Chain Disruptions within Supply Chain Nowadays, organizations perceive Volatility as a systemic condition. They face with demand uncertainty, variability in orders, and maintaining inventory and with many disruptions at any time. When demand rises, organizations try to match it by increasing production or supplies. When demand slumps, they slow down processes to reduce cash outlays for network assets and inventory stocks. Risk events occur not only in the period of instability and often have unprecedented magnitude. The speed of changes is accelerating. During the period, when disruptions are taking place, the global supply chain is spreading impacts instantly among all the connected parties. Some of them may experience severe consequences caused by disruptions. Under these circumstances, the marketing, economic and financial results of organization are deteriorating.

Operations Strategy Why we might be interested in Operations Strategy Operations Strategy is one of the most important categories for organizations (firms), which apply Operations Management, aimed at cost-effective adaptation under demand changes. Individual efforts to influence the cost, quality and availability and to reach organization's goals are usually wasted. To start determining Operations Strategy in an organization properly we must know the meaning of a strategy and main features of operations strategy. We have to understand how Operations Strategy links with organizational value and competitive strategy and overall business strategy. What questions sould be asked and considered by firm's managers and experts.

Scalability What is it? It seems that this term, Scalability , is used by managers rarely. However you can meet it within MOOC courses, devoted to business and operations management or manufacturing systems. According to the analysis of publication ( Putnik et al., 2013 ) Scalability within the manufacturing community has started to gain major attention since approximately the year 2000. G. Putnik and co-authors depicted dynamics of number of papers by the search terms ‘scalability AND manufacturing’ in world leading publishers’ collections such, as Elsevier, Springer, T&F, Wiley, Emerald, JSTOR, ACM, and IEEE. You may see that the number increased from about 200 to nearly 1600 over the period 2000-2012. Search results found for two queries and on ScienceDirect.com have showed rise in the quantity of scientific papers (Fig.1). Search terms included all sources by categories Business, Management and Accounting, Decision Sciences, Economics, Econometrics...

Supply Chain Management (SCM) has been developed progressively for several last decades. Researchers had been taking into account many different aspects that gave new categories such, as: Supply Chain Design, Lean SCM, Sustainable SCM and Green SCM. Supply Chain Management Let's take a look at some categories for supply chain management (SCM). But firstly there is a simple definition of supply chain

Основные подходы и способы определения оборачиваемости запасов Запасы - это замороженные средства, это деньги, которыми нельзя пользоваться. Денежные средства, замороженные в товарных запасах длительное время, могли бы приносить прибыль при более рациональном их использовании. Тем более, если эти деньги были одолжены у банка под проценты - тогда существует обоснованный риск того, что в итоге проценты по кредиту превысят прибыль от реализации товарных запасов. Предпочтительно иметь больше свободных средств путем ускорения оборачиваемости запасов. Оборачиваемость товарных запасов.        Учитывают несколько видов оборачиваемости запасов: - оборачиваемость каждого наименования товара в количественном выражении (по штукам, по объему, по массе и т.д); - оборачиваемость каждого наименования товара по стоимости; - оборачиваемость совокупности наименований или всего запаса в количественном выражении; - оборачиваемость совокупности позиций и...