MBA-IV Semester MBA-INVENTORY MANAGEMENT AND CONTROL Lecture Hours: 40 Course Objective: This course intends to develop the

basic concepts, principles, problems, and procedures in inventory management and provide the student an appreciation of the crucial role of inventory and materials management in the efficiency, competitiveness, and profitability of a business organization. Further it will also help in formulation and application of methods and models for inventory management. Course Structure: Objective: Understanding the concept of Inventory Management Inventory concept; Importance & Scope of Inventory ontrol, Types of Inventory, %&' functions, use; !ependent and Independent !emand of Inventory, osts lectures( "ssociated with Inventory, Selective Inventory ontrol, lassification of items, and Inventory control with deterministic and stochastic demands with and without lead time. #nderstanding lead time. Internal and e$ternal lead time. umulative lead time. Objective: Understanding Strategic Inventory Management. Strategic Inventory )anagement* +b,ectives and Importance of the inventory %&' management function in reference to -rofitability, Strategy, customer satisfaction lectures( and ompetitive "dvantage. ompetitive Inventory management, .educe Inventory osts through Inventory Strategies* /enchmar0ing, Streamline process, 1now your vendors, 2stablish a vendor scorecard, )anage your vendors, 3egotiate terms, -rovide limitless access to information systems, Invest in systems, Invest in inventory control staff, onsistent forecasting philosophy, .eview, recite, and retain 0ey data, lear a day4s5wor05in5a5day, 6i7uidation, Inbound freight, Importing. Objective: Comprehending the various Inventory Control echni!ues * %&9 Inventory classification and its use in controlling inventory, Setup time and lectures( inventory control, safety stoc0 determination considering service level. Strategies to increase Inventory Turns, .educe throughput time, .educe 8I-, eliminate waste, and reduce inventory level in service and manufacturing organizations. Objective: "eveloping familiarity of various Inventory Models

Inventory models : Fi$ed +rder ;ersus Fi$ed Interval systems :!eveloping %=& Special <uantity !iscount )odels : Inventory )odel for )anufactured Items : lectures( 2conomic 6ot Size when Stoc0 .eplenishment is instantaneous., -erishable Inventories, allocation and distribution model for perishable products,

ontinuously deteriorating inventory models, age dependent perishability, -eriodic .eview )odels with Stochastic !emand, Single period %3ewsboy( )odels, !ynamic Inventory )odels with Stochastic !emand Objective: Understanding the Material #e!uirement $lanning Systems %M#$& )aterial .e7uirement -lanning Systems %).-(* )eaning, purpose and %&9 advantage of ).-, !ata .e7uirements and )anagement :/ill of )aterials, lectures( )aster -roduction Schedules, process of ).-, output of ).-. )a0e +r /uy !ecisions* oncept of outsourcing, Factors influencing )a0e +r /uy !ecisions, Trends in )a0e +r /uy !ecisions in conte$t of core competency. Objective: Understanding the Material #e!uirement $lanning Systems in 'I (nvironment )aterials )anagement In >IT 2nvironment* ?ero inventory concept, 2$cess %&@ Inventory* .oadbloc0 to 8orld5 lass )anufacturing, )aterials management in >IT lectures( environment, ;endor )anaged Inventory, vendor relationship in >IT conte$t. ATTERN O! E"AMINATION: Theory -aper* The e$amination paper will consist of one ob,ective type 7uestion containing ten True or False statements %carrying A& mar0s(, which are to be tic0ed with reasons in not more than 9& words. In addition, there will be four alternate sets of 7uestions, out of which one set will be long answer type. Sessionals * lass Tests C <uizzes %average of A best out of D( 8rite up, -resentations and -articipation. Total )ar0s* )ar0s B&

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Re#ere$ces: =. 2. 6. -orteus* Foundations of Stochastic Inventory Theory, Stanford #niv. -ress, A&&A. A. -. E. ?ip0in* Foundations of Inventory )anagement, IrwinC)cFraw5Eill, A&&&. D. I Sahin* .egenerative Inventory Systems, Springer ;erlag, =GG& @. ?ip0in* Foundations of Inventory )anagement :)cFraw Eill. 9. Seetharama 6 3arsimhan, !ennis 8 )c6eavy and -eter > /illington* -roduction -lanning "nd Inventory ontrol 5 -rentice Eall +f India -vt 6td H. >. .. Tony "rnold and Stephen 3. hapman* Introduction To )aterials )anagement, 5 -rentice Eall B. .ichard >. Tersine* -rinciples of Inventory and )aterials )anagement 5 -rentice Eall -T. '. )a$ )uller* 2ssentials of Inventory )anagement 5 ")" +)C"merican )anagement "ssociation G. > E Freene* -roduction "nd Inventory ontrol 5 Eomewood III* .ichard ! Irwin 10. Silver, 2. and -eterson. .. * !ecision System for Inventory )anagement and -roduction ontrol, 8iley, 3I, =G'9