Introduction

One of the key aims of production planning is to minimize the costs of holding stock/inventory while ensuring that there are sufficient resources for production to be able to meet customer demand in a timely manner. This chapter looks at the different types of stock control methods and their relative merits, and examines the need for businesses to recognize and establish their optimum stock levels in order to remain competitive.

Course curriculum

  • 1

    Course Information & Support

    • Please Check Now That Your Phone Is In Your Bag. Please Wait To Leave For The Bathroom Until The Last 5 Minutes Of Class.

    • Only Use The Laptop Assigned To You

    • Please Don't Disrupt Our 40 Minute Work Cycle. Leave For The Bathroom During The LAST 5 MINUTES Of Class.

    • Supply Check Is On The First Resource Bank Day Of Each Quarter

    • How Well Are You Demonstrating The IB Learner Characteristics? Which Is Your Super Power & Which Presents The Greatest Challenge?

    • Do You Skip Class?

    • Fact Sheet Packet Of Class Policies- Please Scroll Through And Review Again

    • Meet Your Teacher: Dr. Eva Bogard

    • You Should Do An Internship Every Year Until You Graduate From College

    • Welcome IB Business Management Student

    • Here Is The Master Plan...

    • The IB BM Syllabus Consists Of 5 Units With A Total Of 40 Total Chapters ("Courses") That You Are Responsible For Learning

    • The Official IB Business Management Guide & Syllabus

    • The Full IB BM Textbook Is In TEAMS

    • Chapter Work Cycle = This Is What We Are Doing In Class & For Homework Every Day

    • DUE DATES & DEADLINES

    • Late With A Good Reason Is Still Late (Missing Work Submitted After 5 Calendar Days = 0%).

    • Your Makeup Day From An Absence Is The Following Class Day. Read Instructions Carefully & Review Policies When Absent.

    • Finished Early? Don't Pack Up! Do This ...

    • Finished Early? Keep Track Of Current Events In The Business World

    • Business Careers. Which Might Be A Good Fit For You?
  • 2

    The Notebook Project - A Daily Learning & Study Tool

    • Read The Rules For Your Notebook Project Before Every Grading Day. This Paper Must Be Stapled Onto The Inside Cover Of Each Composition Notebook

    • Your Notebook Project Helps You Build Strong Attention To Detail. This Is A Valuable Life Skill.

    • LOOK: Page-By-Page Visual Instructions To Help You Earn a 100% On Every Notebook Project.

    • A 100% Notebook Project Sample - Make Yours Just As Nice.

    • A 100% Notebook Project Sample - Compare Yours.

    • Notebook Checklist & Reflection Sheet (The Blue Sheet). Complete & Staple Onto The Last Page Of Your Chapter Notes BEFORE Scoring Day. This Blue Color Checklist Is Available In Class Or You Can Print It Yourself.

    • Project Presentation Form
  • 3

    Start Your Notebook Project By Outlining This Chapter. Then Outline A Long IB Exam Answer Using A Spider Map.

    • New Textbook 5.6 Chapter = 13 Headings

    • How To Pronounce "Productivity" Correctly (In American English)

    • Can You Listen To Music? Yes, But Only If You Follow All The Rules.

    • Review The Instructions For These Two Assignments.

    • LOOK: A Visual Guide For How To Create Your Outline. There Are Also Samples Posted In The Notebook Section Above. Great Attention To Detail = 100%

    • How To Draw A Spider Map

    • Video: Watch A Spider Map Being Created (Best Study Tool)

    • LOOK: This Is What A Great Spider Map Looks Like. Use This Sample As Your Model.
  • 4

    "RESOURCE BANK" = Topic Lessons (54) Begin Below this Point:

    • No Music On RB Days. Plug In Your Ear Buds. Place Them In Your Ears & Use Them To Listen & Learn From The Video Lessons.

    • What is the Resource Bank?

    • Review The Instructions For This RB Assignment.

    • Take Good Notes - These Posts Contain The Content You Want To Write On The IB Exams

    • LOOK: This Is What A Great RB Page Looks Like. Use This Sample As Your Model.

    • Important Detail: Remember To Highlight The RB Section Titles & Number All Posts Consecutively

    • RB = 11 Sections & 54 Posts (= 3 RB Day + HW)

    • Key Objectives: What You Should Be Able To Do By The End Of This 5.6 Chapter
  • 5

    1- The Supply Chain Is Part Of The Operations Field Called "Logistics"

    • Remember: No Music On Resource Bank Days- Plug In Your Earbuds All Period & Listen Carefully To Each Video Lesson

    • 1- Video: 2021 Supply Chain Crisis Explained Through The Journey Of A Sweater

    • Handout: What Is Supply Chain Management?

    • Read: The Supply Chain Process

    • Key Terms To Use In Your Exam Answers

    • Video: What Does A Supply Chain Manager Do?

    • Video: A Supply Chain Can Be Impacted By Forces Of Nature (Earthquake in Japan 2011)

    • Video: An Explanation Of The Covid-19 Global Supply Chain Crisis

    • Video: Details Of The 2021 Supply Chain Crisis & Recommendations
  • 6

    2- Inventory Control Is Also Called Stock Control

    • 9- Handout: "Stock" Means Inventory

    • Video: What Is Inventory?

    • Handout: Stock Comes In 3 Forms

    • Handout: Intro To An Inventory Control Chart

    • Video: How Amazon Processes Their Stock

    • Video: How Amazon Moves Their Warehouse Inventory

    • Video: Key Parts Of An Inventory Control Chart

    • Video: What Does "Lead Time" Mean?

    • Video: The Importance Of Lead Time Forecasting

    • Video: Explanation Of A Stock Control Graph

    • Video: How To Calculate The Re-Order Level

    • Video: How To Calculate The "Economic Order Quantity" (EOQ)

    • Handout: Financial Consequences Of Holding Too Much Stock

    • Handout: Financial Consequences Of Not Having Enough Stock

    • Visual: What Happens When Inventory Is Not Managed Correctly

    • Summary Of Stock Control Chart
  • 7

    3- JIT VS. JIC

    • 25- Video: Just In Time Vs. Just In Case (Toyota Example)

    • Handout: Advantages & Disadvantages Of Just In Time Production

    • Article: Just In Time Design Details (Kansas University Paper)

    • Handout: When JIT Is Not Best

    • Handout: How To Make JIT Successful
  • 8

    4- Capacity Utilization Measurement

    • 30- Capacity Utilization Formula

    • Video: Explanation Of Capacity Utilization Concept

    • Video: How To Calculate Capacity Utilization

    • Video: Three Business Operations Calculations (C.U. starts at 2:38)

    • Key Terms Used In Capacity Utilization

    • Handout: How To Overcome Long-term Capacity Shortage Problems

    • Exam Review: Capacity Utilization
  • 9

    5- Defect Rate

    • 37- What Are 4 Strategies For Reducing Defects?
  • 10

    6- Productivity

    • 38- What Are The Elements That Make Some Businesses More Productive?
  • 11

    7- Labor Productivity

    • 39- Handout: What Are The 4 Factors Of Labor Productivity?

    • Video: Introduction To Labor Productivity

    • Handout: Key Concepts Of Labor Productivity

    • Video: Labor Productivity & Calculation Practice

    • Video: How To Improve Labor Productivity
  • 12

    8- Capital Productivity

    • 44- Manufacturing Productivity Is Similar To Capital Productivity
  • 13

    9- Operating Leverage

    • 45- How To Calclate Operating Leverage

    • How Did The Pandemic Affect Operating Leverage?
  • 14

    10- CTB VS. CTM

    • 47- Key Terms For CTB vs CTM

    • Video: How To Calculate A Make Or Buy Decision

    • Video: An Example Of Make Or Buy Calculation Using With Bike Seats

    • Video: What Is A Cost-Benefit Analysis?

    • Handout: Key Factors In CTB and CTM Decisions
  • 15

    11- Production Planning & The CCES Concepts (Creativity-Change-Ethics-Sustainability)

    • Keep Your Earbuds Plugged In All Period & Listen Carefully To Each Video Lesson. No Music- It's Still A RB Day.

    • 52- Video: How Did Covid Impact The Agricultural Supply Chain? (7 Min On RB Day 3)

    • 53- Video: 2022 Amazon Supply Chain Case Study: Take Notes & Use Info On The Exam!! (16 Min On RB Day 3)

    • 54- Article: The Take Away = How The Global Pandemic's Changed Supply Chain Management (RB Day 3)

    • Review The Instructions For The CCES Assignment.

    • Read These CCES Definitions. If You Write Them On Your May Exams You Get Credit For Clear Evidence of "Synthesis & Evaluation"

    • Your CCES Assignment Begins At The Top Of A New NB Page: Title= CCES, Then Write 4 CCES Impact Statements For This Chapter Following The Model.

    • LOOK: This Is What A Great CCES Page Looks Like
  • 16

    Case Studies Assignment: This Is Your Practice For The Senior May IB Exams.

    • This Was The Real May 2024 IB BM Standard Level (SL) Paper 2 Exam. Get A Feel For It Now. Know That We Are Preparing For It Every Day In Class & For Homework So You Will Have The Best Chance Of Earning Your Best Score.

    • This Was The Real May 2024 IB BM Higher Level (HL) Paper 2 Exam. Get A Feel For It Now. Know That We Are Preparing For It Every Day In Class & For Homework So You Will Have The Best Chance Of Earning Your Best Score.

    • Exam Tip: Paper 2 Section B (2024-2028)

    • Step-By-Step Instructions For Doing Your Case Studies As Practice For Your Senior May Exams

    • LOOK: This Is What A Completed & Corrected Case Study Analysis Looks Like. Use This Sample As Your Model.

    • Clarification Of The Productivity Rate Calculation (Case 3)

    • See How The IB BM Command Terms Are Organized

    • What Are Command Terms & Why Are They Important?

    • Old Command Terms List = Rules for Answering Test Questions

    • New Command Terms Definitions List (2024+)= Directions for Answering Test Questions

    • Chapter 5.6 Has 13 Case Studies. Choose & Complete At Least 3 - But Be Sure To Make One Of Your Choices Case #12 or #13 (This Style Question Is Popular On The May IB BM Exams)

    • 5.6 Examiners' Notes. Copy In Red Ink.

    • Finished Early? Don't Pack Up! Do This ...
  • 17

    Review Day Activities + Presentation Day

    • Read & Follow These Review Day Instructions

    • Watch: 5.6 Chapter Review With Mr L

    • Watch: Mr. B's Review of Production Methods

    • What Should You Do If You Get Stuck On A Question? Don't Skip It! Do This...

    • LOOK: This Is What A Great Chapter Review Page Looks. Use This As Your Model.

    • Here Are The 5.6 Review Worksheets With 8 Tasks & 25 M/C (Title The Top Of A New Page. Then Label The Tasks And Write The Answers In Your Composition Notebook)

    • Presentation Day Instructions

    • New 5.6 Review Worksheet ANSWER KEY (Self-Correct With Color Ink. Is An Entire Task Correct? Write "OK")

    • Bonus Activity On Review Day (Connect Business Terms To Your Foreign Language Learning)

    • 5.6 Quizlet

    • Have You Achieved the 5.6 Key Learning Outcomes?

    • Test Yourself! Use The Review Questions Listed At The End Of The Textbook Chapter

    • 5.6 Active Recall Flip Grid Assignment (Objective = Score A 7 For Business Management On Your IB Diploma )

    • Online Students: You Are Almost Finished!

    • Don't Forget The Last Piece!

    • Finished Early? Don't Pack Up! Do this ...

    • Memorize & Review The 5.6 IB Exam Formulas

    • Study The May IB BM Exam KEY TERMS

    • Self Test On Production Planning

    • Self Test On Supply Chain Management
  • 18

    5.6 Quiz Day: Write Your Score In Your Notebook At The Top Of The Shark Tank Page In Red Ink.

    • Quiz Day Schedule Of Activities

    • Come Here On Quiz Day If You Are In The Classroom - Makeups Are On The Day You Return

    • You Must First Enroll In The Shark Tank Course

    • After The Quiz, Do The Assigned "Beyond The Tank" Work. If You Have An Excused Absence For Today, You Are Also Excused From This Assignment (Write "ABSENT" With The Date On The Notebook Page)

    • Blue Sheet Instructions. Pick Up A Blue Checklist & Reflection Handout To Complete & Staple Into Your Notebook

    • Due Today On Quiz Day (Before Midnight) Is Your Completed Chapter Notebook Project
  • 19

    Tech Support & How To Scan And Post An Excellent Chapter Project.

    • Don't Forget To Complete & Staple The Blue Reflection Checklist To The Last Page Of Your Chapter

    • Please Review The Quality Requirements For Your Scanned Project

    • Intro Guide For Posting Assignments On Teams

    • Step-By-Step Video Tutorial For How To Upload An Assignment In Teams

    • 8 Steps For Using The TEAMS App On Your Phone To Upload

    • Use The "PDFgear Scan" App!

    • How To Use OneDrive To Scan Your Notebook Project

    • How To Use Your iPhone To Scan Your Notebook Pages Into A Single PDF File

    • How To Use Your Android Phone To Scan Your Written Work Into A PDF File

    • If You Must- You Can Scan Two Notebook Pages At One Time

    • If You Can Only Scan One Page At A Time, Here's How To Merge Multiple PDF Files Into One Single File For TEAMS
  • 20

    BONUS CHAPTER - CAREERS IN PRODUCTION PLANNING (No Notes Required)

    • Video: Think About A Career In The Supply Chain Industry

    • Video: Meet A Production Planner

What's Next

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