Practical Workshop On Inventory Control Methods
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ScribdTranslationsPractical Workshop On Inventory Control Methods
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ScribdTranslationsPRACTICAL WORKSHOP
INVENTORY CONTROL METHODS
JORGE LUIS PICO GARCÍA
NATIONAL LEARNING SERVICE - SENA
ADMINISTRATION AND CONTROL OF INVENTORIES
FILE: 2353460
JULY 2021
PRACTICAL WORKSHOP
INVENTORY CONTROL METHODS
JORGE LUIS PICO GARCÍA
Nasly Lopez Puente
NATIONAL LEARNING SERVICE - SENA
ADMINISTRATION AND CONTROL OF INVENTORIES
SHEET: 2353460
JULY 2021
Practical workshop.
Inventory control methods.
For better understanding in the development of the proposed activity, it is very important that
review the study materials and research the suggested bibliographic references in
this learning guide.
For the completion of this transfer activity, you must read each of the
statements and provide answers to the questions presented:
a. McQueen Store stores electric drills that sell well. The annual demand
it is 5,000 units, the ordering cost is $15 and the inventory holding cost is
from $4 per unit per year. With the above information determine:
What is the economic lot?
Q= √ 2∗D∗S
H
Q=?
D = 5000 AND
$15
H= 4
Q= √ 2∗D∗S = √2∗5000∗15= √ 150000 = √37500 = 193.64
H 4 4 ❑ ❑
Q = $193.64 the economic lot is equal to 193.64 pesos
What is the total annual cost of the inventory for this item?
Q D
C= ∗H+ ∗S
2 Q
Q D 194 5000
C= ∗H+ ∗S¿ ∗4+ ∗15=97∗4+ 25.77∗15=388+387 $775
2 Q 2 194
C = $775 the total annual cost of the inventory of this item is 775 pesos
b. A hospital faces the following problem:
needs to decide how much blood of each type to keep in inventory. Due to the high cost
from the blood and its short lifespan (up to 5 weeks in refrigeration), it is natural
that the hospital wishes to keep the inventory as low as possible. However, the
natural and social disaster risks that occurred in the past have shown that they
they lose their lives when there is not enough blood available to meet the needs
massive. The hospital manager wants to prevent this type of situation.
What strategies would you advise the hospital manager to use to ensure the
attention to all users in case of an emergency?
The strategies proposed to the hospital manager include creating a database.
of all the people who are able to donate blood and are suitable for
to do it where data such as blood type, first names, last names, age are recorded,
location and contact information, sex, compatibilities, patient diseases. With
the purpose of being able to contact the hospital in case of an eventuality as soon as possible
possible time for the person who is able to donate and meet the needs.
This is to maintain a low inventory and avoid or reduce the risk of losses.
for losses.
In addition, for the most common or most used blood, a stock can be managed of
optimal inventory managed under the FEFO method which records for the exit of
inventory the product with the nearest expiration date or the FIFO method that
would allow the release of the articles in this case blood according to their order of collection or
of arrival to the inventory as well as the items that are about to expire if not
they have been taken out of stock to use them for centrifuging and to make the most of the plasma
c. A computer company purchases 8,000 transistors in a year. The unit cost
The cost of each transistor is $100, and the cost of holding a transistor in inventory during
One year costs $30. The ordering cost is $300 per order and operates 200 days a year.
With this information, calculate:
What is the optimal lot size?
Q=?
8000
S = 300
H= 30
DP= 200
C.und = 100
Q= √
2∗D∗S √2∗8000∗300 √ 4800000 √ 160000 400
= = = =
H 30 30 ❑ ❑
$400
What is the expected number of orders to be placed per year?
D8000
N= ¿ = N = 20
Q400
The number of orders to be placed per year is 20
What is the waiting time between orders?
Q 400
TBO= ∗DP¿ ∗200 = 0.05 * 200 = TBO = 10 The time that must be waited
D 8000
the lead time is 10 days
The annual demand for folders in a large stationery store is 10,000 units.
Stationery operates its business 30 days a year and generally deliveries by the
Supplier takes 5 business days.
Calculate the reorder point for the folders.
D 10000
D= 10000 d= = = d= 333.33
DTA 30
DTA= 30
L=5 d*L
d = ? = 333.33 ROP = 333.33 * 5
ROP=? = 1667 ROP = 1667
A beverage company has an annual demand of 5,000 boxes. Currently,
pay $64 for each box. The cost of holding inventory is 25% of the cost
unit price and the ordering costs are $25. A new supplier has offered to sell the
same item for $60, if the company orders at least 3,000 boxes per order. Analyze
the previous situation.
Do you think the company should change suppliers taking advantage of
discount for quantity?
Studying the previous case, I must advise against changing suppliers.
that the current demand is for 5000 boxes at $64 would be an inventory valued at
$320,000 this would be an optimal inventory as it is at a break-even point
between supply and demand, the new supplier does not cover it for me
demand with only one batch so I would have to buy 2 batches of 3000 boxes each
that with a value of $60 per box would generate a value of $180,000 per batch to cover the
I need 2 batches, so I require $360,000 to cover the inventory.
What would be $40,000 more that I should invest, and by buying the two lots, I would have an inventory.
from 6000 and I only require 5000 to meet the demand in such a way that I must store
1000 boxes. Cover storage costs, labor costs, and cover the increase.
of the risk volume due to losses.
In the second month, I already have 1000 boxes in stock, but since the demand is 5000.
I need to buy 2 lots again because with 1 the stock only reached 4000.
boxes and it does not meet the demand, so when buying 2 batches it would be again
6000 boxes plus 1000 that I have in stock would have a total inventory of 7000 boxes
to meet the demand of 5000 boxes, I would then have to rotate the inventory to
avoid and/or reduce the volume of waste and in the second month the stock would already increase to
2000 boxes further increasing the maintenance cost and the risk of losses or
losses.
It would be until the third month when I would buy only a lot of 3000 boxes for it.
stock of 2000 boxes to cover the demand for 5000 boxes.
From my point of view, it is not feasible to change suppliers as long as the
demand as long as the demand remains stable is much more profitable to continue with the
current provider.
