Module+13000+X.+Summary+and+Conclusions


 * X. Module 13000 Summary and Conclusions wxa**

 Organizations using inventory management to minimized inventory costs. __Just-In-Time inventory management, Just-In-Case inventory management, and theory of constrains__ are three methods of reducing inventory costs. This module 130000 introduces student the terms and definitions of these three inventory management methods (Just-In-Time inventory management, Just-In-Case inventory management, and theory of constrains). The formulas were presented to caudate 1.total ordering and carrying cost, 2.economic order quantity, 3.reorder point, and 4.throughput.in conclusion, with the knowledge, managers can eliminate waste, maximize the total contribution margin, improve the quality and performance, and achieve the firm’s goal of reducing costs.