Inventory System
The series of activities involved in maintaining adequate levels of inventory is referred to as inventory cycle. The activities include ordering of inventory, receiving, storing and using them in the process of production. While ordering inventory, firms place their orders on the basis of any of the following inventory systems:
-
Fixed Order Quantity System (Q-System)
-
Fixed Order Period System (P-System), also known as Fixed Time-Period Reordering System
Two key questions before the operations manager are when to order and how much to order i.e. the time and the quantity. The time at which the inventory is reordered is called the reorder point and the quantity of materials reordered is referred to as reorder quantity. Figure compares the two systems using a flow chart.
Email based Operations Management assignment help - homework help at Expertsmind
Are you searching Operations Management expert for help with Inventory System questions? Inventory System topic is not easier to learn without external help? We at www.expertsmind.com offer finest service of Operations Management assignment help and Operations Management homework help. Live tutors are available for 24x7 hours helping students in their Inventory System related problems. We provide step by step Inventory System question's answers with 100% plagiarism free content. We prepare quality content and notes for Inventory System topic under Operations Management theory and study material. These are avail for subscribed users and they can get advantages anytime.
Why Expertsmind for assignment help
- Higher degree holder and experienced experts network
- Punctuality and responsibility of work
- Quality solution with 100% plagiarism free answers
- Time on Delivery
- Privacy of information and details
- Excellence in solving Operations Management questions in excels and word format.
- Best tutoring assistance 24x7 hours