13.0 Learning Outcomes
Learning Outcomes
At the end of this chapter, students will be able to:
- Explain the fundamental role of inventory management in balancing customer service levels and inventory costs.
- Classify and describe the different types of inventory managed by organizations.
- Analyze the various reasons for maintaining inventory and their impact on inventory management strategies.
- Identify and explain the components of inventory holding costs and their influence on inventory management decisions.
- Calculate the optimal order quantity using the EOQ formula and assess its impact on total relevant costs.
- Apply the EPQ model to determine the optimal production run size and its implications for inventory management.
- Calculate safety stock and reorder points based on demand variability and service level requirements.
“8.0 Learning Outcomes” from Fundamentals of Operations Management by Azim Abbas and Seyed Goosheh is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.
