A level Business Revision - Inventory Control

In this A level Business revision video, we examine inventory control diagrams, explaining the term maximum stock levels, 'buffer' stock levels, re-order levels, re-order quantities and lead times. We also investigate the reasons why some businesses decide to keep high levels of stock whilst others keep stock levels low.

Inventory control is a topic on the new AQA Business A level and the Edexcel Business A level.

Taking The Biz is a channel dedicated to A level Business revision.

Stay in touch with TakingTheBiz via social media:

[joikonkazama]

May God bless your soul sir, you saved me from my exam 🙏

[dipayanchakraborty]

One of the best lectures I have seen..Thanking you sir..

[lorrainewastie]

Hi I am studying Level 4 in CIPS and some of your videos have really good explanations thank you!

[elizabethobeng]

Thank you so much, Sir. You're my favorite lecturer here. God bless you.

[kitgerman]

this is actually really useful. You target topics that we are likely to miss out due to the volume of essential information in the books, thanks

[carolinareardon]

Great video. Natural teacher. Clearly explained

[drenmatoshi]

Great video as usual Sir, I have recommended you to many of my friends as a great revision tool! Can you potentially make a video on what you think may potentially come up for each of the 3 papers by analysing what has already came up in the practise papers. Also if you can do a video answering a 25 marker and how you would structure it?
This would be greatly appreciated.
Thanks

[bria]

Exams in a few hours and this actually cleared my head so well👏🏽👏🏽

[jayeshm.s]

I really appreciate your efforts in providing relevant and significant information for AS/A level students, but can you please segregate the videos separately for AS level and A level?

[seanfreeman]

You explain everything so well. Thank you.

[charlenepang]

Hi Sir, can you do a tutorial on Just-in-Time Inventory control? Would really appreciate it!!

[aknad.]

Thank you so so much sir! Keep making these videos...I have an exam in school tomorrow and i did not quite understand the notes from class, and your video helped me a LOT!!!! Thank you so much! God bless.

[MrImaddah]

thank you very helpful i just came to understand some term in data analysis for PowerBI but have food idea about stock Analytics now

[nandanffasya]

thank you for your explanation, its really helpful

[nancylindfield]

Thank you, so very useful. I will be using more of your tutorials

[hb]

Have you got videos covering the whole syllabus for Cambridge AS and A level business?

[shamshair]

X axes is the days and y axes is the amount of the stock in the business
on the top dotted line is know as the max stock level, however the bottom line is know as the buffer inventory it is the lowest level of its inventory business decides to hold !The blue line refers to the amount of stocks and the middle dotted line indicates the re order level it drop there when we contact out suppliers to place a order for the next deliever and the time we take to supply the inventory is known as the lead time. re order quantity is the differ between buffer and max stock level it tell how much stock we have delivered!
The advantage of keeping a high level of inventory is it allows the business to meet the demand of customers for unexpected order, it continues the production, the more stock you keep you can benefit from ecnomics of scale.
The dis adv are storing inventory can be costly you need a place for it, it can reduce the liquidity of a business thus firm keep a lower inventory, there are chances of going bad or being stolen and chances of breaking!

[Adam-hfhn]

is it true that a business using JIT, will not be able to fully exploit purchasing economies of scale?

[alexanderwilson]

This is great!!!! Do you think that you will have the entire syllabus uploaded by October 30th?

[psander]

Could you please do a video on how to apply real life examples to businesses in 2017? In order to get that A*?