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Module 8

Module 8. Inventory Management Chapter 18. Supply chain vs. Logistics. Supply chain management. Supply chain management, then, is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage.

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Module 8

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  1. Module 8 Inventory Management Chapter 18

  2. Supply chain vs. Logistics

  3. Supply chain management • Supply chain management, then, is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. • It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible. • Supply chain activities cover everything from product development, sourcing, production, and logistics, as well as the information systems needed to coordinate these activities. • Focused on supply and inventory

  4. Top 10 healthcare supply chain companies • Mayo Clinic • Cardinal Health • Intermountain health care • Owens & Manor • Mercy • CVS Health • McKesson • AmerisourceBergen • Johnson & Johnson • Walgreens Boots Alliance

  5. Top 10 logistics companies • UPS • XPO Logistics Inc. • J.B. Hunt Transport Services • C.H. Robinson Worldwide • Expeditors International of Washington • Ryder Supply Chain Solutions • DHL Supply Chain • FedEx Corp • Ceva Logistics • Americold Logistics

  6. Terminology • Holding cost = Inventory and supplies impose holding costs such as temperature control, space, needing to be cleaned • Stock-outs = Occur when an organization’s inventory of some item falls to zero • Losses due to expiration, contamination, sales, and in-house usage • HCO = unacceptable and can result in unnecessary death and possible legal consequences • Balancing-how much • Safety stock level = Minimum amount of items that must be kept on-hand • Avoid stock-outs • Economic order quantity (EOQ) = Optimal amount of an itme • Eliminate loss of opportunity cost

  7. Terminology • ABC inventory system = Each inventory or supply is categories as belonging to one of three categories • A = Expensive (Expensive pharmaceuticals) • B = All other items (Printer ink) • C = Inexpensive (Nonprescription pain relievers, bandages) • Just-in-time inventory management = supplies are delivered just as they are needed rather than in advance. • Requires a solid working relationship with suppliers and precise calculation of needed supplies • In HC = should be used for A items from ABC inventory system

  8. Be on the lookout for.. • Amazon • https://logistics.amazon.com/ • Cheap  Convenient • Automation (Robots)

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