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% Document Info
\author{marie.madero}
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  /Title (stock-control.pdf)
  /Creator (Cheatography)
  /Author (marie.madero)
  /Subject (Stock Control Cheat Sheet)
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        \hspace*{-6pt}\includegraphics[width=5.8cm]{/web/www.cheatography.com/public/images/cheatography_logo.pdf}}
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Stock Control Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{marie.madero} via \textcolor{DarkBackground}{\uline{cheatography.com/23665/cs/5411/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}marie.madero \\
  \uline{cheatography.com/marie-madero} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 15th October, 2015.\\
   Updated 13th May, 2016.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Operational decisions and stocks}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Materials management involves: \newline % Row Count 1 (+ 1)
{\emph{-the purchasing of stocks and their delivery}} \newline % Row Count 2 (+ 1)
{\emph{-the storing and control of stocks}} \newline % Row Count 3 (+ 1)
{\emph{-the issue and handling of stocks}} \newline % Row Count 4 (+ 1)
{\emph{-the disposal of surpuses}} \newline % Row Count 5 (+ 1)
{\emph{-the provision of information about stocks}}% Row Count 6 (+ 1)
} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
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\par\addvspace{1.3em}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Stock Levels}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Affected by}} \newline % Row Count 1 (+ 1)
-Demand; {\emph{buffer stock is used to describe stock held for unforeseen rises in demand or breaks in supply}} \newline % Row Count 4 (+ 3)
-Stockpile goods \newline % Row Count 5 (+ 1)
-Cost of stock holding \newline % Row Count 6 (+ 1)
-Amount of working capital available \newline % Row Count 7 (+ 1)
-Type of stock \newline % Row Count 8 (+ 1)
-Lead time {\emph{the amount of time if takes for a purchase to be placed, received, inspected and made ready for use}} \newline % Row Count 11 (+ 3)
-External factors% Row Count 12 (+ 1)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Stock Control}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{Economic order quantity}} {\emph{Calculate the level of stocks which minimize costs; it takes into account the costs of holding stock which rise with the amount of stock held and the average costs of ordering stock which fall as the size of the order is increased}} \newline % Row Count 6 (+ 6)
{\bf{Fixed re-order interval}} {\emph{This method ignores the economic order quantity, but ensures that stocks are "topped up" on a regular basis}} \newline % Row Count 9 (+ 3)
{\bf{Fixed re-order level}} {\emph{This method involves setting a fixed order level which is repeated at varying time intervals}} \newline % Row Count 12 (+ 3)
{\bf{Two bin system}} {\emph{Method involved dividing stock into two bins}}% Row Count 14 (+ 2)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{Methods focus on:  \newline {\bf{1. Re-order quantity}} {\emph{how much stock is ordered when a new order is placed}} \newline {\bf{2. Re-order level}} {\emph{the level of stock when an order is placed}}}  \tn 
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\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{The Nature of Stocks}}  \tn
% Row 0
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{\bf{Raw Materials and Components}} & {\bf{Work-in-progress}} & {\bf{Finished Goods}} \tn 
% Row Count 3 (+ 3)
% Row 1
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Purchased from suppliers before production & Partly finished goods & To cope with changes in demand and stock \tn 
% Row Count 7 (+ 4)
% Row 2
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Helps stop delays in production & (happens in batch or flow production) & Helps avoid the need to step up production rates quickly if needed. \tn 
% Row Count 13 (+ 6)
% Row 3
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Back-up plan in case suppliers are sucky & Assembly line &  \tn 
% Row Count 17 (+ 4)
\hhline{>{\arrayrulecolor{DarkBackground}}---}
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\mymulticolumn{3}{x{5.377cm}}{{\bf{Stock take}} involves recording the amount and value of stocks which the firm is holding; security reasons and to determine the value of total purchases during the year for a firm's accounts.}  \tn 
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Computarized stock control}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{Having the business's entire stock on computer databases helps the company because it is an easy, fast and useful way of managing stock since different details may be reviewed fast in a computer% Row Count 4 (+ 4)
} \tn 
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Cost of holding stocks}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{It can help improve business performance}} \newline % Row Count 1 (+ 1)
{\emph{Having too much stock may mean money is tied up unproductively, but inadequate stock can lead to delays in production and late deliveries}} \newline % Row Count 4 (+ 3)
-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-{}-- \newline % Row Count 5 (+ 1)
-There may be an opportunity cost in holding stocks. \newline % Row Count 7 (+ 2)
-Storage can also prove costly. \newline % Row Count 8 (+ 1)
-Spoilage costs (quality, outdated, deteriorate) \newline % Row Count 9 (+ 1)
-Administrative and Financial costs (placing and processing orders) \newline % Row Count 11 (+ 2)
-Out-of-stock costs are costs of lost revenue. (loss of goodwill)% Row Count 13 (+ 2)
} \tn 
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\mymulticolumn{2}{x{5.377cm}}{\bf\textcolor{white}{Too much or too little stock}}  \tn
% Row 0
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{\bf{Too Much}} & {\bf{Too Little}} \tn 
% Row Count 1 (+ 1)
% Row 1
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High costs & Not being able to cope with unexpected changes \tn 
% Row Count 4 (+ 3)
% Row 2
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Space & Running out of stock \tn 
% Row Count 5 (+ 1)
% Row 3
\SetRowColor{white}
Opportuity cost & Not being able to cope with shortages of materials \tn 
% Row Count 8 (+ 3)
% Row 4
\SetRowColor{LightBackground}
May result in unsold stock & Lost production \tn 
% Row Count 10 (+ 2)
% Row 5
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May result in theft by employees & Placing orders may raise total ordering costs \tn 
% Row Count 13 (+ 3)
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{JIT and Stock Rotation}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{{\bf{J}}ust {\bf{I}}n {\bf{T}}ime Management; {\bf{Stock Rotation}} is the flow of stock (FIFO and LIFO)% Row Count 2 (+ 2)
} \tn 
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% That's all folks
\end{multicols*}

\end{document}