Inventory Planning with Forecasting Expenditure 1st Edition by Sanjay Sharma 1000545091 9781000545098
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ISBN 10: 1000545091
ISBN 13: 9781000545098
Author: Sanjay Sharma
In industrial or business cases, purchasing and procurement are significant functions. Usually, a procurement plan is prepared based on certain predictions of consumption patterns or demand. When this plan is implemented, the benefit is obtained corresponding to forecast accuracy. In the available literature, forecasting accuracy is frequently discussed. A need is established to link forecasting accuracy with forecasting expenditures. After an explicit inclusion of the forecasting expenditure, this book describes inventory planning for procurement and production. FEATURES Discusses forecasting expenditure in detail Provides an analysis of reduction and increase in forecasting expenditures Highlights advanced concepts that include procurement inventory, production planning, and priority planning in detail Examines an approach in relation to the inclusion of an explicit cost of forecasting Covers total cost formulation, modified total cost, relevant index, threshold value, and cost of forecasting in a comprehensive manner with the help of examples Inventory Planning with Forecasting Expenditure is useful for undergraduate and postgraduate students in engineering and management and has potential for elective and supplementary core courses.
Inventory Planning with Forecasting Expenditure 1st Table of contents:
Chapter 1: Introduction
1.1 Planned Schedule
1.2 Problem Description
1.3 Forecasting Expenditure
1.3.1 For Buying
1.3.2 For Making
1.4 Potential Benefit
Chapter 2: Procurement
2.1 Cost Estimate
2.2 Modified Cost Estimate
2.3 Related Index
2.4 Analysis
2.4.1 Reduction in the Forecasting Expenditure
2.4.2 Increase in the Forecasting Expenditure
2.5 Threshold Value
2.5.1 Ordering Cost Variation
2.5.2 Carrying Cost Variation
Chapter 3: Production
3.1 Total Cost Formulation
3.2 Modified Total Cost
3.3 Relevant Index
3.4 Effects
3.4.1 Decrease in the Forecasting Expenditure
3.4.2 Raise in the Forecasting Expenditure
3.5 Influence on R Value
3.5.1 Facility Setup Cost
3.5.2 Holding Cost
Chapter 4: Applications
4.1 Buying
4.2 Making
4.3 Associated Index
4.3.1 Buying
4.3.2 Making
4.4 Influence
4.4.1 Purchasing
4.4.2 Production
Chapter 5: Highlights
5.1 Cost of Forecasting
5.2 Evolution Stage
5.3 Business Use
Appendix
A.1 Importance of Cycle Time
A.2 Variation in Cycle Time
A.2.1 Lower Cycle Time
A.2.2 Higher Cycle Time
A.3 Backordering Situation
A.3.1 Downward Variation in Cycle Time
A.3.2 Upward Variation in Cycle Time
A.4 Interaction of Parameters without Shortages
A.4.1 Increased Cycle Time
A.4.2 Decreased Cycle Time
A.5 Interaction of Parameters with Shortages
A.5.1 Longer Cycle Time
A.5.2 Shorter Cycle Time
General Reading
1 Sequencing of Jobs on a Single Machine
1.1 SPT Rule
1.2 EDD Order
2 Method to Minimize the Number of Tardy Jobs
Cycle 1
Cycle 2
Cycle 3
3 Two-Machine Flow Shop Scheduling
4 Work Study
4.1 Motion Study
4.2 Charts
Micromotion Study
Cyclegraph
Chronocyclegraph
4.3 Therbligs
4.4 Principles of Motion Economy
4.5 Time Study
4.5.1 Applications
4.5.2 Procedure to Conduct Time Study
4.5.3 Methods to Evaluate Performance Rating
Bibliography
Index
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Sanjay Sharma,Inventory Planning,Forecasting Expenditure
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