TERM – 3RD TERM
WEEK SIX
Class: Senior Secondary School 1
Age: 15 years
Duration: 40 minutes of 5 periods each
Date:
Subject: STORE KEEPING
Topic: TYPES OF INVENTORY CONTROL I
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
I.) Enumerate the types of inventory control
II.) Analyse types of inventory control
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
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PRESENTATION
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TEACHER’S ACTIVITY
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STUDENT’S
ACTIVITY
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STEP 1
INTRODUCTION
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The teacher highlights all the types of inventory control on the board
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Students as a class mention types of inventory control.
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STEP 2
EXPLANATION
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Teacher describe the types of inventory control mentioned.
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Students as a class discuss types of inventory control
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STEP 3
NOTE TAKING
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The teacher writes a summarized
note on the board
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The students
copy the note in
their books
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NOTE
TYPES OF INVENTORY CONTROL I
Types of inventory control include:
- ABC Analysis: This method categorizes inventory items into three groups based on their value and contribution to overall inventory costs. It helps prioritize inventory management efforts by focusing on the most significant items.
- Just-in-Time (JIT) Inventory Control: JIT aims to minimize inventory holding costs by receiving and producing goods only when needed. It requires tight coordination with suppliers and production processes to reduce lead times and eliminate waste.
- Economic Order Quantity (EOQ): EOQ calculates the optimal order quantity that minimizes total inventory costs, considering ordering costs and holding costs. It helps determine the most cost-effective order quantity to balance ordering and carrying costs.
- Material Requirements Planning (MRP): MRP is a production planning and inventory control system that manages the scheduling and procurement of materials needed for production based on demand forecasts and production schedules.
- Vendor Managed Inventory (VMI): In VMI, the supplier manages the inventory levels of the buyer. The supplier monitors inventory levels and restocks the inventory as needed, reducing the buyer's inventory holding costs and improving supply chain efficiency.
- Dropshipping: Dropshipping involves fulfilling customer orders directly from the supplier, eliminating the need for the retailer to hold inventory. It reduces inventory carrying costs and minimizes the risk of overstocking or stockouts.
- Batch Tracking: Batch tracking involves tracing and monitoring inventory items by batch or lot numbers throughout the supply chain. It helps maintain product quality, comply with regulatory requirements, and facilitate recalls if necessary.
EVALUATION: 1. Mention 5 types of inventory control that you know
- Briefly explain the types of inventory control mentioned in 1 above.
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively
