Every organization constantly strives to maintain optimum inventory to be able to meet its requirements and avoid over or under inventory that can impact the financial figures. Introduction to uncertainty management lecture slides notes. A management information system is a system design to provide. Introduction to sales management, defination 3 concepts, objectives, functions 2. Inventory control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply. But there is a top down management interest at stake people need to voluntarily share knowledge you cant force them als het relevant voor hun is zijn mensen meer bereid om kennis te delen. This section provides the schedule of lecture topics for the course along with lecture notes and supporting files. Ics 121 lecture notes spring quarter 96 project management, cost estimation, and team organizations 7 ics 125 ieee 1058. The challenges of inventory management in practice. He has also conducted a series of inhouse programmes for several term stint in training staff of petronas in stores, purchasing and materials management. Principles of management a manager can control 4 things. When human being started group activities for the attainment of same common objectives whenever a group is formed and a group activity is organized to achieve certain common objectives management is needed. Takahiro fujimoto introduction to production management nihon.
Art means managers has to handle the person and things tactfully. Since annual holding cost average inventory annual holding cost per unit q 2 c h. Forecast demand independently for each item based on usage history establish lot sizes independently for each item based on demand forecasts establish safety stocks independently for each item based on forecast errors which make the following assumptions. A management information system is a system design to. Strategic management pdf lecture notes introduction and overview of strategic management. Strategic management course notes strategic analysis lecture 2 chapter 1 business models vision, mission, values learning objectives. Inventory management is a very important function that determines the health of the supply chain as well as the impacts the financial health of the balance sheet. Purchasing and inventory control in mm material management is one of the critical and crucial part of every organization involved in manufacturing process. Lecture notes download only for management information systems, th edition.
Download free study material about management information systems including lecture slides. Bba 305 sales management directorate of distance education guru jambheshwar university hisar125001. The system gathers data from the internal and external sources of an organisation. Download free sample and get upto 65% off on mrprental. Me3105 production management 3 p a g e it is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective.
With more than 2,400 courses available, ocw is delivering on the promise of open sharing of knowledge. Invited speaker, national conference on synergizing functional effectiveness and organizational performance for economic growth, r v institute of management, december 12th, 2015. View notes inventory management i from busml 4382 at ohio state university. Aggregate production planning lecture notes free download as powerpoint presentation. Smartturn created this ebook for business owners, logistics professionals, accounting staff, and procurement managers responsible for inventory, warehouse and 3pl operations, as well as anyone else who wants to demystify. Project managemen practice week 7 test with answers lecture notes, course project management exam 2011, questions and answers exam 2011, questions and answers tutorial work project management, chapter 110, 1214, questions and answers seminar assignments report case study project with comments excellent. Lecture 15 project management university of washington. This is illustrated for the above example, using the 97.
Management information system notes and study material. Stores management and stock control linkedin slideshare. Project management project management, cost estimation, and. It is more of a service than a manufacturing industry. Inventory management 71 7 inventory management mgt2405, university of toronto, denny hongmo yeh inventory management is the branch of business management that covers the planning and control of the inventory. It is also the management of resources, the distribution of goods and services to customers. Find materials for this course in the pages linked along the left. Unit1 introduction to management introduction to management. Guest lecture presentation courtesy of thomas stallkamp, the ceo of msx international.
An efficient and effective material management system is important in the purchasing and inventory control for effective cost control in maintenance. Inventory level il is the quantity on hand, which is di erent from inventory position ip, which is equal to inventory onhand plus quantity on order minus backorder if any. Inventory management i lecture notes lecture 9 advanced. Less dectble, flow systematized and often automated. Inventory control inventory is the stock of any item or resource used in an organization and can include. In this case, continuous stock control is often necessary. Its management needs to be proactive, accurate and efficient. Mit opencourseware makes the materials used in the teaching of almost all of mits subjects available on the web, free of charge. As already seen in examples 1 and 2, some of the costs that determine this profitability are 1 the ordering costs, 2 holding costs, and 3 shortage costs. Strategic safety stocks in supply chains stefan minner springer. Lecture notes download only for management information. Therefore, production management can be defined as the management of the conversion process. To try and fail is at least to learn to fail to try is to. Lecture outline basics of inventory management inventory systems fixedorder quantity system 92 fixedtime period systems independent vs.
Lecture notes introduction to manufacturing systems. One knowledge area project integration management affects and is affected by all of the other knowledge areas. Ibm to slash prices up to 27% on business pcs, the wall street journal, august 24 1994. Inventory management definition, types of inventory and. Lecture notes operations management sloan school of. Inventory control can be defined as the system used in a manufacturing concern to control the firms investment in. Critically evaluate human resource management strategies and their potential impact. Fixed and variable partitioning, paging, segmentation. Engineering ebooks download engineering lecture notes. Complete notes for project management emba 1st sem discuss complete notes for project management emba 1st sem within the executive mba online mba distance part time mba degree institutes forums, part of the indian b schools, college zone and campus talks category. Purchasing and inventory control purchasing and inventory. Knowledge management 3 why knowledge management application of knowledge management km lie in the below four key areas globalization of business. The management scientist has an inventory module that allows us to incorporate probabilistic demand during lead time into the eoq orderquantityreorder point model. In the following paragraphs the principles of management is being explained.
Hi, i have recently taken admission for emba in project management. The managers are decision makers the marketing managers decides about how to market, when to market, where to market how to collect funds for organization. Inventories are stockpiles of items raw materials, components and finished goods wait ing to be processed, transported or. The recorder takes notes on the senior leadership teams comments for. Management information system is a system consisting of people, machines, procedures, databases and data models, as its elements.
Bad management of inventory purchasing methodsbad management of inventory, purchasing methods has lead to fall of organizations. Dec 03, 2010 principles of management lecture notes formba 1. Project management project management, cost estimation. I s 460 lecture notes professor yong tan lecture 15 project management project and project management a project is a temporary sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by specific time, within budget, and according to specification. Lecture notes the theory of operations management sloan. We demand a good plan that satisfies customers while maintaining the lowest possible total cost. Material management is a scientific technique, concerned with planning, organizing control of. Before discussing the principles of management it is to explain that all industrial or business activities can be classified as follows. Note that any subsequent use or redistribution of the slides must include the msx international logo and attribution to the company. Technical activities consisting of production or manufacture 2.
Lectures notes on production and operation management vssut. The maximum ilis q, the minimum is 0, therefore the average ilis q 2. Write a short note about management information system mis. Management is the process of planning, organizing, leading and. Store management lecture notes chapter 9 storage management. The purpose of an abc classification is to save inventory management costs. Aggregate production planning lecture notes inventory. Resources can get more dollars, facilities, personnel time can increase schedule, delay milestones, etc. Key noteslectures department of management studies. Management information system can be defined as a formal method of collecting timely information in a presentable form. View notes store management lecture notes from cosc 425 at pepperdine university. Buy operations management notes ebook by pdf online from vtu elearning.
Since 1990 we have designated the department of defenses management of its inventory, including spare parts, as high risk because its management systems and procedures were us general accounting. Notes principles of management business environment 54 department at one place i. The components of knowledge management knowledge management is a business activity with two primary aspects. Lecture notes download only for management information systems. In the previous chapters, we have discussed priority and capacity planning and control. Risk management ii, quality monitoring and control, and project learning pdf. Therefore, production management can be defined as the management of the conversion process, which converts land, labor, capital, and management inputs into desired outputs of goods and services. Materials management psm831 is a core course of two credit units. The construction industry the construction industry is the largest industry in the world. Materials managements joint certificate programme with the chartered institute of purchasing and supply, u. Chapter 9 storage management memory allocation techniques uniprogramming fixedpartition multiprogramming. Inventory control means efficient management of capital invested in raw materials and supplies, work in progress and finished goods. Define strategic management and its four key attributes define.
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