Industrial Engineering and Production Management
Inventory control in production, planning and control aims at

Acceptable customer service at low capital investment in inventory
Achieving optimization
Ensuring against market fluctuations
Discounts allowed in bulk purchase

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Industrial Engineering and Production Management
Dispatching

Regulates the progress of job through various processes
Determines the programme for the operations
Is concerned with the starting of processes
Prescribes the sequence of operations to be followed

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Industrial Engineering and Production Management
Pessimistic time is

The average time required for a job
The maximum time which an activity might require
The most probable time considering all conditions
The minimum time in which an activity can possibly be accomplished

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