Pub Date : 2018-06-05DOI: 10.4135/9781446213025.n14
K. R. Jones
Normally, items waiting to be purchased or purchase are considered to be in inventory. One of the most pressing problems in the manufacturing and use of goods is the control of this inventory. Many companies experience financial difficulties each year due to a lack of adequate control in this area. Whether it is raw material used to manufacture a product or products waiting to be purchase, problems arise when too many or too few items are available. INTRODUCTION The basic decisions to be made once a source has been determined are how much to order and when to order. Inherent in this analysis is the concept of demand. Demand can be known or unknown, probabilistic or deterministic, constant or lumpy. Each of these characteristics affects the method of approaching the inventory problem. For the unknown demand case a decision must be made as to how much the firm is willing to risk. Normally, the decision would be to produce some k units for use and then determine after some period of time to produce more or to discontinue production due to insufficient demand. This amounts to the reduction of the unknown demand situation to one of a lumpy demand case after the decision has been made to produce the batch of a finite size. Similarly, if a decision is made to begin production at a rate of n per day until further notice, the unknown demand situation has been changed to a constant known demand case. Lumpy demand, or demand that occurs periodically with quantities varying, is frequently encountered in manufacturing and distribution operations. It is distinguished from the known demand case. This second case is that of a product which has historic data from which forecasts of demand can be prepared. A factor of concern in these situations is the lead time and the unit requirement on a periodic basis. The following are the major factors to be considered in the modeling of the inventory situation. Demand is the primary stimulus on the procurement and inventory system and it is the justification for its existence. Specifically the system may exist to meet the demand of customers, the spare parts demand of an operational weapons system, the demand of the next step in a manufacturing process, etc. The characteristic of demand, although independent of the source chosen to replenish inventories, will depend on the nature of the environment giving rise to the demand. The simplest demand pattern may be classified as deterministic. In this special case, the future demand for an item may be predicted with certainty. Demand considered in this restricted sense is only an approximation of reality. In the general case, demand may be described as a random variable that takes on values in accordance with a specific probability distribution. Procurement quantity is the order quantity, which in effect determines the frequency of ordering and is related directly to the maximum inventory level. Maximum shortage is also related to the inventory level. TYPES OF INVENTORY MODELS D
{"title":"Inventory management.","authors":"K. R. Jones","doi":"10.4135/9781446213025.n14","DOIUrl":"https://doi.org/10.4135/9781446213025.n14","url":null,"abstract":"Normally, items waiting to be purchased or purchase are considered to be in inventory. One of the most pressing problems in the manufacturing and use of goods is the control of this inventory. Many companies experience financial difficulties each year due to a lack of adequate control in this area. Whether it is raw material used to manufacture a product or products waiting to be purchase, problems arise when too many or too few items are available. INTRODUCTION The basic decisions to be made once a source has been determined are how much to order and when to order. Inherent in this analysis is the concept of demand. Demand can be known or unknown, probabilistic or deterministic, constant or lumpy. Each of these characteristics affects the method of approaching the inventory problem. For the unknown demand case a decision must be made as to how much the firm is willing to risk. Normally, the decision would be to produce some k units for use and then determine after some period of time to produce more or to discontinue production due to insufficient demand. This amounts to the reduction of the unknown demand situation to one of a lumpy demand case after the decision has been made to produce the batch of a finite size. Similarly, if a decision is made to begin production at a rate of n per day until further notice, the unknown demand situation has been changed to a constant known demand case. Lumpy demand, or demand that occurs periodically with quantities varying, is frequently encountered in manufacturing and distribution operations. It is distinguished from the known demand case. This second case is that of a product which has historic data from which forecasts of demand can be prepared. A factor of concern in these situations is the lead time and the unit requirement on a periodic basis. The following are the major factors to be considered in the modeling of the inventory situation. Demand is the primary stimulus on the procurement and inventory system and it is the justification for its existence. Specifically the system may exist to meet the demand of customers, the spare parts demand of an operational weapons system, the demand of the next step in a manufacturing process, etc. The characteristic of demand, although independent of the source chosen to replenish inventories, will depend on the nature of the environment giving rise to the demand. The simplest demand pattern may be classified as deterministic. In this special case, the future demand for an item may be predicted with certainty. Demand considered in this restricted sense is only an approximation of reality. In the general case, demand may be described as a random variable that takes on values in accordance with a specific probability distribution. Procurement quantity is the order quantity, which in effect determines the frequency of ordering and is related directly to the maximum inventory level. Maximum shortage is also related to the inventory level. TYPES OF INVENTORY MODELS D","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"21 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70556756","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2014-01-01DOI: 10.4135/9781452240121.n13
W. Mosiman
{"title":"Advanced Practice Nurse","authors":"W. Mosiman","doi":"10.4135/9781452240121.n13","DOIUrl":"https://doi.org/10.4135/9781452240121.n13","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70590888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Optimizing human capital through succession planning.","authors":"Ramona Pulce","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"225"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Relationship management: a key strategy for effective succession planning.","authors":"Hussein A Tahan","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"254-64"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Leadership development: the heart of succession planning.","authors":"Elaine L Smith","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"234-9"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Organizations tend to favor measures of near-term, tangible achievement at the expense of long-term, intangible capacities such as leadership. Succession planning, which is intimately tied to measures of leadership competencies and leadership development, suffers as a result of this tendency. Effective planning requires senior managers to be willing to invest in the measurement needed to gauge where the organization stands with respect to future leadership requirements.
{"title":"Measuring leadership: measuring what counts for succession planning.","authors":"John A Corso","doi":"","DOIUrl":"","url":null,"abstract":"<p><p>Organizations tend to favor measures of near-term, tangible achievement at the expense of long-term, intangible capacities such as leadership. Succession planning, which is intimately tied to measures of leadership competencies and leadership development, suffers as a result of this tendency. Effective planning requires senior managers to be willing to invest in the measurement needed to gauge where the organization stands with respect to future leadership requirements.</p>","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"265-8"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The case against mandatory overtime.","authors":"Leah L Curtin","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"274-8"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Never before have nursing leaders been faced with 4 generations of nurses working together, a turbulent health care system, and supply and demand issues. Succession planning with different generations requires a knowledge of their values and strengths. It means retaining and attracting new employees who can stabilize an organization.
{"title":"Defining generations in succession planning: there are four!","authors":"Edna Cadmus","doi":"","DOIUrl":"","url":null,"abstract":"<p><p>Never before have nursing leaders been faced with 4 generations of nurses working together, a turbulent health care system, and supply and demand issues. Succession planning with different generations requires a knowledge of their values and strengths. It means retaining and attracting new employees who can stabilize an organization.</p>","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"248-53"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Succession planning: lessons from the legal field.","authors":"Barbara Woodhouse","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"269-73"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Use of ratios in financial statement analysis.","authors":"May Bennett","doi":"","DOIUrl":"","url":null,"abstract":"","PeriodicalId":79376,"journal":{"name":"Seminars for nurse managers","volume":"10 4","pages":"222-4"},"PeriodicalIF":0.0,"publicationDate":"2002-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"22194308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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