Lesson Notes By Weeks and Term - Senior Secondary 1

Types of inventory control II

Get it on Google Play
Get it on the Apple App Store
  1. Home
  2. Lesson Notes By Weeks and Term
  3. Senior Secondary 1
  4. Types of inventory control II

TERM – 3RD TERM

WEEK EIGHT

Class: Senior Secondary School 1

Age: 15 years

Duration: 40 minutes of 5 periods each

Date:

Subject: STORE KEEPING

Topic: TYPES OF INVENTORY CONTROL II

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

I.) Differentiate between the 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

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S

ACTIVITY

STEP 1

INTRODUCTION

The teacher describes the difference between the types of inventory control

Students in pairs discuss the differences between types of inventory control                                                                                    

STEP 2

NOTE TAKING

The teacher writes a summarized

note on the board

The students

copy the note in

their books

 

NOTE

TYPES OF INVENTORY CONTROL II

  1. ABC Analysis vs. JIT Inventory Control

   - ABC Analysis: Classifies inventory items into categories based on their value and importance, helping prioritize management efforts.

   - JIT Inventory Control: Focuses on minimizing inventory levels by receiving and producing goods only when needed, aiming to reduce holding costs and eliminate waste.

  1. EOQ vs. MRP

   - EOQ (Economic Order Quantity): Calculates the optimal order quantity that minimizes total inventory costs, balancing ordering costs and holding costs.

   - MRP (Material Requirements Planning): Plans and schedules material procurement based on demand forecasts and production schedules, ensuring materials are available when needed for production.

  1. VMI vs. Dropshipping

   - VMI (Vendor Managed Inventory): Involves the supplier managing the inventory levels of the buyer, reducing the buyer's inventory holding costs and improving supply chain efficiency.

   - Dropshipping: Fulfillment method where the retailer does not hold inventory but instead purchases products from a third-party supplier and ships them directly to the customer, minimizing inventory holding costs for the retailer.

  1. Batch Tracking vs. Serial Number Tracking

   - Batch Tracking:  Traces and monitors inventory items by batch or lot numbers throughout the supply chain, ensuring product quality, regulatory compliance, and facilitating recalls.

   - Serial Number Tracking: Assigns a unique serial number to each inventory item, allowing tracking of individual items throughout their lifecycle, enhancing visibility, quality control, and facilitating warranty tracking and after-sales service.

EVALUATION: 1. Discuss the difference between ABC and JIT inventory control.

  1. Describe the difference between batch tracking and serial number tracking.

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively