β Scribed by Prem Vrat (auth.)
No coin nor oath required. For personal study only.
This book examines the problem of managing the flow of materials into, through, and out of a system in order to improve the efficiency and effectiveness of materials management. The subject is crucial for global competitive advantage, as materials constitute the largest single cost factor in manufacturing and service, and their effective management enhances value for money. In this context, inventory is a barometer of materials management effectiveness, along with wastage of materials.
The book adopts a comprehensive, integrated systems approach and covers almost all aspects of materials, considering the specification, procurement, storage, handling, issue, use and accounting of materials to get the most out of every dollar invested. Combining conceptual clarity and quantitative rigor, it will be a highly useful guide for practicing managers, academics and researchers in this vital functional area.
Front Matter....Pages i-xxiii
Introduction to Integrated Systems Approach to Materials Management....Pages 1-19
Basic Concepts in Inventory Management....Pages 21-36
Selective Inventory Management....Pages 37-49
Static Inventory Models: Single Purchase Decisions....Pages 51-66
Dynamic Inventory Models: Aggregate Analysis....Pages 67-79
Deterministic Inventory Models....Pages 81-103
Dynamic Inventory Models with Quantity Discounts....Pages 105-121
Probabilistic Inventory Models....Pages 123-150
Just-in-Time, MRP, and Lean Supply Chains....Pages 151-173
Inventory Management of Slow-Moving Materials....Pages 175-193
Multi-echelon Inventory Models....Pages 195-210
Material Specification, Codification, and Standardization....Pages 211-224
Management of Material Waste....Pages 225-242
Storage and Warehousing....Pages 243-262
Purchasing: Policies and Processes....Pages 263-285
Incoming Materials Quality Assurance....Pages 287-302
Make or Buy Decisions: Outsourcing Strategy....Pages 303-316
Source Selection, Performance Rating, and Development....Pages 317-337
Value Analysis for Material Cost Reduction....Pages 339-356
Systems Approach and Supply Chain Management....Pages 357-378
Evaluation of Materials Management Effectiveness....Pages 379-392
Back Matter....Pages 393-408
Production/Logistics/Supply Chain Management; Procurement; Industrial and Production Engineering
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