Eddie Davilla explains the impact of inventory levels on resource usage and how managing inventory flow can help your company be more productive and profitable.
- Shampoo, it's funny how we use it, right? … When you get a new bottle, the next shower … is like having a shampoo party. … You use lots of shampoo and build … up a nice, thick lather of bubbles. … The only problem is that one week later, … you have a bottle with about that much left in it. … But somehow, you're able to make … that little bit of shampoo last for months if you need to. … I like to call that the shampoo principle. … The more you have, the more you use. … Our consumption rates of inventory change based … on the amount of inventory we have. … And it's a continuous cycle of use and misuse … that we can see as we get new bottles of shampoo. … When I buy a new bottle of shampoo … and put it in the shower to accompany … my almost-finished bottle, next time … I'm in the shower, what happens? … Somewhere inside my brain I'm, … we can't have two bottles of shampoo in here. … And no matter what, it has now become my mission … to finish off that old bottle of shampoo. … I just spent weeks being so resourceful …
- Understanding operations management
- Making key inventory decisions
- Balancing holding costs and ordering costs
- Choosing a production strategy and facility layout
- Managing waiting-line systems
- Defining quality and improving quality
- Managing business processes
Skill Level Intermediate
1. Introduction to Operations
2. Managing Inventory Basics
3. Making Products and Services
4. Managing Waiting Lines Basics
5. Quality Control Basics
6. Operations at the Office
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