Inventory Management

Hey...Last week we learned about how to solve inventory problems within a company. I definitely learned something....I never really thought about the concept of inventory....I learned the EOQ method in quantitative methods but I never....put 2 and 2 together...LOl.
Remember: The job as an inventory manager is to minimize total inventory cost
- Carrying cost = Ordering cost
-Total Cost=SD/Q+ICQ/2
-There are 3 inventory models:Q system, P system, and EOQ method
* Also don't forget that we should always ask 2 questions: How much? & When to Order?

See you guys in class
Shanisa