Syllabus of National Institute of Technology - Tiruchirappalli (NIT-T) MBA - MB771 Purchasing and Inventory Management

Introduction to Inventory Control - Static Inventory problems Under Risk - Static Inventory Problems Under uncertainty.

Dynamic Inventory Models - Models with fixed and variable lead time - Under certainty - Under Risk - Under uncertainty. Simulation - Many items simulation in process Inventories - Inventory Queue of slow - moving - spare parts, - Multi product Inventory Systems - Coverage, Analysis.

Forecasting for Materials purchasing procedures, Forms and Records for Purchasing - Review & Selection of Sources of supplies - purchasing personnel Management - Legal aspects of purchasing. Purchase Budget - Materials Management Performance - buyer, seller Relations.

Value Analysis - Standardization - Variety Reduction - MAPI formulas - Quality Management. Just in Time Production (JIT) - MRP - Vendor evaluation & Vendor Rating.

Stores & Control - Store-keeping, Procedures and records - Relations with Accounting and Inventory Control, ABC system of Stock Control - Materials movement & handling.

Books:

1. Starr & Miller, 'Inventory Control Theory and Practice', Prentice Hall of India, NewDelhi,1989.

2. Ahuja, K.K., 'Material Management', CBS Pub., NewDelhi,l992.

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