Lean 5S - Setting Min/Max Inventory Levels

J

jovoga

#1
HELLO,

Anybody have experience with setting MIN/MAX inventory levels for consumable material and frequency of renewal?
I have this data: weekly consumption of each part in pcs and boxes.

Please post link with xls spreadsheet or another advice...

Thanks a lot mates.
 
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Steve Prevette

Deming Disciple
Staff member
Super Moderator
#3
Pretty much a standard Operations Research optimization problem. You are balancing the cost of maintaining inventory with the expected costs of stockout.

"Just In Time" is realized if you can tightly control your deliveries of supplies, and your use of supplies is very predictable. Else, you need to keep on hand excess inventory in order to reduce the costs of work stoppages due to "stockouts".

http ://www. me. utexas. edu/~jensen /ORMM/computation/unit/sim_add/inventory.html- DEAD LINK UNLINKED (404)

http://www.ime.unicamp.br/~andreani/MS515/capitulo12.pdf - Appears to still be There.
 
Last edited by a moderator:
Q

qpled

#4
Pretty much a standard Operations Research optimization problem. You are balancing the cost of maintaining inventory with the expected costs of stockout.

"Just In Time" is realized if you can tightly control your deliveries of supplies, and your use of supplies is very predictable. Else, you need to keep on hand excess inventory in order to reduce the costs of work stoppages due to "stockouts".

http://www.me.utexas.edu/~jensen /ORMM/computation/unit/sim_add/inventory.html
http://www.ime.unicamp.br/~andreani/MS515/capitulo12.pdf
As a distributor I agree with Mr. Prevette's advice and wanted to add that you can work with your suppliers to set up a blanket order that will cover your stock needs while following JIT. :agree1:
 
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