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  1. Inventory Planning - Lucas-Bear & Associates, Inc.
  2.  
  3. KEYWORDS: inventory, inventory control, Manufacturing                           , 215     
  4.  
  5. The Inventory Planning system is an essential planning tool for determining
  6. material requirements for manufacturing, purchasing, and distribution
  7. applications.  Inventory Planning utilizes the forecasts and measures of
  8. forecast error developed in the Demand Forecasting system to compute
  9. time-phased safety stocks, economic order quantities and reorder points.
  10. These replenishment rules take into consideration sales volumes, the frequency
  11. of replenishment, anticipated lead times, desired customer levels, the
  12. economics of placing orders, inventory holding costs, demand forecasts and
  13. many other factors.  The system develops an annual plan that projects
  14. investment and procurement requirements and takes into account changing
  15. conditions by computing the replenishment rules on a time-phased basis through
  16. the year, giving consideration, period by period, to the variation in the
  17. demand forecast and anticipated lead times.  Inventory performance is
  18. analyzed, comparing a calculated ideal inventory, noting variations and aging
  19. excess inventory.
  20.  
  21. Lucas-Bear & Associates, Inc.
  22. Tel: (215) 836-5161
  23. Fax: (215) 836-2305
  24.