Stock Control Revision

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Presentation transcript:

Stock Control Revision

Revision Points What is Stock Key Terms Stock control charts JIT

What is stock? Stock is made up of THREE things. What are they?

Key Terms Units Maximum stock level Minimum stock level Re-order level Re-order quantity Lead time Buffer stock

Stock control charts Draw a stock control chart and label it with the key terms Hint: Think carefully about how you draw the line to indicate the stock level

JIT What does JIT stand for?

JIT What is the difference between Just in Time and Just in Case? What types of businesses might use each one? Draw a JIT stock line on your chart