Chng 30

QUN TR HNG TN KHO

V TIN MT
30.1 TNG QUAN
30.2 QUN TR HNG TN KHO
30.3 QUN TR TIN MT
30.1 TNG QUAN
Nu bn gi mt phn qu nh ngn qu ca bn
ngn hng th bn s cn phi bn thng xuyn
cc chng khon thanh ton cc ha n.
Mt khc, nu gi mt khon tin mt ln ngn
hng, bn s mt li sut. Quan trng l phi tm
c s d hp l.
30.1 TNG QUAN
D tr nguyn vt liu, thnh phm (HTK) gip
gim thiu ri ro sn xut b chm tr nu vt liu
khng c phn phi ng hn, hoc mt doanh
s khi kho khng c hng.
Nhng d tr hng tn kho phi tr gi: li sut
mt i do d tr hng tn kho, tin thu kho phi
tr v hng ha thng b h hng v gim cht
lng.
Quan trng l s lng hng tn kho hp l
30.2 QUN TR HNG TN KHO
i vi cc doanh nghip sn xut, hng tn kho
c vai tr nh mt tm m an ton gia cc giai
on khc nhau trong chu k sn xut kinh doanh.
V th, vic SX v tiu th SP linh hot, trnh
nhng ri ro trong bin ng chi ph u vo v
nhu cu khng chc chn.
i vi cc doanh nghip thng mi th hng tn
kho cng c vai tr tng t l mt tm m an
ton gia giai on mua hng v bn hng trong
mt chu k sn xut kinh doanh.
30.2 QUN TR HNG TN KHO
Tn kho nguyn vt liu: nguyn vt liu c bn,
bn thnh phm hoc c hai .
Vic duy tr mt lng hng tn kho nguyn vt
liu ln gip: c li khi c hng gi chit khu
t cc nh cung cp; chi ph n nh v qu trnh
SX linh hot khi gi c nguyn vt liu tng hay
mt loi nguyn vt liu no khan him,
Do vy cc b phn sn xut v cung ng vt t
trong cc doanh nghip lun mun duy tr mt s
lng ln hng tn kho nguyn vt liu.
30.2 QUN TR HNG TN KHO
Tn kho SP d dang: bao gm tt c cc mt hng
m hin ang cn nm ti mt cng on no
ca qu trnh sn xut.
Tn tr sn phm d dang l mt phn tt yu ca
h thng sn xut cng nghip hin i.
Ni chung, khi mt doanh nghip c chu k sn
xut di hn th mc tn tr sn phm d dang
cng ln hn.
30.2 QUN TR HNG TN KHO
Tn kho thnh phm: bao gm nhng sn phm hon thnh
chu k sn xut ca mnh v ang nm ch tiu th.
Thnh phm tn kho mang li li ch cho c hai b phn sn
xut v b phn marketing ca mt doanh nghip.
Do lng cu khng chc chn, tn kho thnh phm ti thiu
ho thit hi v mt doanh s do khng c hng giao hay thit
hi v mt uy tn do chm tr trong giao hng.
Mt lng ln thnh phm tn kho cho php cc loi sn phm
c sn xut vi s lng ln, v iu ny gip gim chi ph
sn xut.
30.2 QUN TR HNG TN KHO
Cc chi ph lin quan n hng tn kho:
Chi ph t hng (Ordering costs)
Chi ph tn tr (Carrying costs)
Chi ph thit hi do kho khng c hng (Stockout
costs)
30.2 QUN TR HNG TN KHO
Chi ph t hng (Ordering costs):
Chi ph t hng bao gm cc chi ph giao dch,
chi ph vn chuyn v chi ph giao nhn hng. Chi
ph t hng c tnh bng n v tin t cho mi
ln t hng.
Chi ph t hng thng bao gm cc nh ph v
bin ph tuy nhin, trong nhiu m hnh qun l
hng tn kho n gin nh l m hnh hng tn
kho EOQ gi nh chi ph cho mi ln t hng l
c nh v c lp vi s n v hng c t
mua.
30.2 QUN TR HNG TN KHO
Chi ph tn tr: bao gm tt c cc chi ph lu gi
hng trong kho: Chi ph lu gi v chi ph bo
qun; Chi ph h hng v chi ph thit hi do hng
tn kho b li thi; Chi ph bo him; Chi ph u
t vo hng tn kho.
Chi ph lu gi v bo qun bao gm: chi ph kho
hng, chi ph khu hao cc thit b h tr cho hot
ng kho nh bng chuyn v xe nng chuyn
dng. Chi ph tn tr cn bao gm tin lng tr
cho nhn vin coi kho v nhn vin iu hnh.
30.2 QUN TR HNG TN KHO
Chi ph li thi: gim st gi tr hng do tin b
ca khoa hc k thut hay thay i kiu dng. Chi
ph h hng th hin s gim gi tr ca hng tn
kho do cc tc nhn l ho nh l cht lng hng
ho b bin i hoc b gy v.
Chi ph bo him hng tn kho trc cc him ho
nh mt cp, ha hon, v cc thm ha t nhin
khc.
30.2 QUN TR HNG TN KHO
Chi ph u t vo hng tn kho: c hi ph ca
vn khi doanh nghip s dng ngun vn ca
mnh u t vo kho hng. Thng c tnh
bng WACC tr nhng trng hp c ri ro khc
vi ri ro trung bnh.
Cc chi ph khc.
30.2 QUN TR HNG TN KHO
Chi ph tn tr cng bao gm nh ph v bin ph
tuy nhin, hu ht cc m hnh qun l hng tn
kho nh m hnh EOQ u xem chi ph tn tr
nh l mt chi ph kh bin trn mi n v hng
tn kho.
Chi ph tn tr c tnh bng n v tin t trn
mi n v hng lu kho hoc c tnh bng t l
phn trm trn gi tr hng lu kho trong mt thi
k.
30.2 QUN TR HNG TN KHO
Chi ph thit hi khi khng c hng (hng tn kho
ht)
Nguyn vt liu ht th chi ph thit hi l: chi ph
t hng khn cp v thit hi do ngng tr sn
xut.
Sn phm d dang ht th chi ph thit hi l: k
hoch sn xut b thay i v gy tc ng dy
chuyn n cc giai on SX khc.
Thnh phm ht : khch hng mua sn phm t
i th hoc phi bi thng hp ng.
30.2 QUN TR HNG TN KHO
M HNH EOQ Economic Order Quantity
Nhu cu cho mt loi hng c bit trc v
khng i S.
Ch c chi ph tn tr (C) v chi ph t hng
(O)
Khng c vic chit khu theo sn lng.
Khng c yu cu hng tn kho ti thiu.
Thi gian giao hng l tc thi.
30.2 QUN TR HNG TN KHO
y l m hnh ti u ha vi:
Bin s ra quyt nh : Q
Hm mc tiu: tng chi ph b nht.
Gi Q l lng hng tn kho cho mi ln t
hng, khi ht hng doanh nghip li tip tc t
mua Q n v hng mi.
Lng tn kho bnh qun l Q/2
30.2 QUN TR HNG TN KHO
Gi C l chi ph tn tr cho mi n v hng tn
kho th tng chi ph tn tr hng tn kho trong
k l: Q/2x C.
Gi S l lng hng tiu th trong k nn s ln
t hng trong k l S/Q
Gi O l chi ph cho mi ln t hng th tng
chi ph t hng trong k l: S/Q x O
Tng chi ph = Q/2 x C + S/Q x O
30.2 QUN TR HNG TN KHO
30.2 QUN TR HNG TN KHO
Lng t hng tn kho ti u:

2SO
Q
*

C
Gi T* l thi gian t hng ti u:

*
Q
T*
S / 365
30.2 QUN TR HNG TN KHO
V d: Cng ty Dayton Hudson chuyn kinh doanh
bn cc loi nm. Nhu cu hng nm l 3.600 sp.
Chi ph cho mi ln t mt n hng mi l
31,25$.
Cng ty Dayton Hudson c chi ph tn tr hng
nm l 20% trn gi tr hng tn kho. Gi mua
mt tm nm l 50$.
Thi gian giao hng gn nh tc thi v khng c
chit khu theo s lng t hng.
30.2 QUN TR HNG TN KHO
Lng t hng tn kho ti u:

2SO 2 x3600 x 31,25

Q
*
150
C 10
Gi T* l thi gian t hng ti u:

365 x 150
T *
15,2
3.600
30.2 QUN TR HNG TN KHO
M HNH EOQ M RNG
Thi gian giao hng khc 0: Q* khng i.
Khong thi gian chun b giao nhn hng: thi
gian cn thit sn xut hay khong thi gian
cn thit ng gi v vn chuyn, hoc c hai.
Doanh nghip khng ch n cui chu k hng
tn kho (ngha l hng tn kho tin n 0) mi t
hng li, doanh nghip s tin hnh t hng trc
n ngy cho cui mi chu k d tr. y l im
t hng li.
30.2 QUN TR HNG TN KHO
im t hng li c xem nh l mc tn
kho m ti thc hin mt n t hng k tip.
S
Qr n x
365
V d: thi gian chun b giao hng l 5 ngy v
nhu cu hng nm l 3.600 tm nm,
3.600
Q r 5x 49,3
365
30.2 QUN TR HNG TN KHO
Chit khu theo s lng:
y l mt trng hp ca tnh kinh t theo qui
m, doanh nghip khuyn khch khch hng t
hng s lng ln bng cch dnh cho h mt t
l chit khu.
Vi chit khu theo s lng, chi ph mua trn
mi n v hng s thay i v tu thuc vo s
lng hng c t.
30.2 QUN TR HNG TN KHO
Trc tin, xc nh lng hng ti u theo m
hnh EOQ n gin.
Th hai, tnh ton mc sinh li rng hng nm khi
lng t hng tng t Q* ln ti mc t hng
cn thit nhn c khon chit khu.
Nu mc sinh li rng tng thm hng nm l
dng th s lng t hng ti u l s lng t
hng c hng mc chit khu.
Nu khng, s lng t hng ti u s l gi tr
EOQ.
30.2 QUN TR HNG TN KHO
V d: cng ty Dayton s nhn c chit khu
2% hoc 1$/SP nu n t hng trn 600 n v.
Trc tin, Q* = 150 tm nm
Tnh ton mc sinh li rng hng nm khi gia tng
s lng t hng t 150 ln 600:
Khon tit kim t chit khu = chit khu trn
mi n v x nhu cu hng nm = 1 x 3600 =
3.600$
30.2 QUN TR HNG TN KHO
Tng chi ph tn kho c chit khu = 3.127,5
Tng chi ph tn kho ti u = 1.500
chi ph = 3.127,5 1.500 = 1.627,5
Mc sinh li rng hng nm = khon tit kim t
chit khu chi ph = 3600 1.627,5 = 1.972,5
Mc sinh li rng >0, nn lng t hng s gia
tng t Q* ln mc t hng hng chit khu.
30.2 QUN TR HNG TN KHO
M hnh kim sot hng tn kho theo ri ro
Nhu cu hng tn kho u n v xc nh trc
Thi gian giao nhn hng hng tn kho l khng
thay i.
Trong thc t, iu ny khng xy ra.
Doanh nghip s dng mt lng hng tn kho an
ton sn sng p ng trc nhng bin ng
ca cc nhn t trn.
30.2 QUN TR HNG TN KHO
Mc

tn
kho

im t hng li

Hng tn kho an ton

T6
0
T1 T2 T3 T4 T5
Thi gian
Thi im t hng
Thi gian chun b Hng tn kho ht
giao nhn hng Thi im nhn hng
30.2 QUN TR HNG TN KHO
Hng tn kho an ton ti u s gia tng khi
C s khng chc chn cng vi nhu cu s dng
d kin gia tng v thi gian giao hng tng ln.
Chi ph thit hi tng do hng trong kho ht hng.
Vic xc nh mc hng tn kho ti u lin quan
n vic cn i gia chi ph thit hi d kin do
ht hng tn kho so vi chi ph tn tr hng tn
kho b sung.
30.2 QUN TR HNG TN KHO
H thng qun l hng tn kho Just-In-Time
H thng qun l hng tn kho ng lc Just-In-Time
nhm mc ch gim thiu chi ph v thi gian sn
xut: tn kho bng 0.
M hnh tn kho bng 0 t ra hiu qu nht i vi
nhng doanh nghip c nhng hot ng sn xut
mang tnh cht lp i lp li.
Tuy nhin h thng tn kho Just-In-Time i hi mt
s kt hp cht ch gia nh sn xut v nh cung
cp, bi v bt k mt s gin on no trong qu
trnh cung ng cng c th gy tn tht cho nh sn
xut v nh sn xut s phi gnh chu cc chi ph pht
sinh do ngng tr sn xut hay mt doanh s bn.
30.3 QUN TR TIN MT
M hnh qun l tin mt EOQ
S ging nhau gia m hnh qun tr tin mt v
m hnh qun tr hng tn kho:
DN lu gi tin mt cn thit, khi tin mt xung
thp DN b sung tin mt bng cch bn cc tri
phiu kho bc.
Chi ph tn tr chnh l li sut m DN b mt i.
Cc chi ph t hng chnh l chi ph cho mi ln
bn tri phiu kho bc.
 30.3 QUN TR TIN MT
D tr tin mt ti u:
Tienmatthanh toanhangnam Chi ph cho moilanbantraiphieukho bac
Q* 2
Laisuat

V d: DN c tng tin mt chi tr trong nm l

1.260.000$. Li sut tri phiu kho bc l
8%/nm. Mi ln bn chng khon gia tng
tin mt, doanh nghip phi tn chi ph giao dch
l 20$. Q* ti u s l:
2 x1.260.000 x 20
Q
*
25.100
8%
30.3 QUN TR TIN MT
nh i tin mt:
Nu li sut cao, doanh nghip s nm gi s d
bnh qun tin mt thp.
Nu chi ph mi ln bn tri phiu cao th doanh
nghip nn nm gi mt s d tin mt ln hn.
S dng m hnh qun tr HTK c th khng thc
tin:
Chi tr tin mt khng n nh.
30.3 QUN TR TIN MT
M hnh qun tr tin mt Baumol lm ni bt
s nh i gia chi ph c nh ca vic bn cc
chng khon v chi ph tn tr ca vic nm gi
tin mt.
M hnh Baumol gip hiu c ti sao cc doanh
nghip va v nh lu gi mt s d tin mt
ng k. Trong khi cc cng ty ln, c cc chi ph
giao dch mua v bn chng khon qu nh so vi
c hi ph mt i do lu gi mt s lng tin mt
nhn ri.
30.3 QUN TR TIN MT
M hnh qun l tin mt Miller Orr:
30.3 QUN TR TIN MT
th cho thy s d tin mt i ngon ngoo mt
cch kh d on cho n khi t c gii hn
trn. Ti im ny, doanh nghip mua chng
khon vo tr s d tin mt v mt mc
bnh thng gi l im tr li.
Mt ln na tin mt li tip tc i ngon ngoo
cho n khi t c gii hn di. Lc ny,
doanh nghip s bn chng khon thu tin mt v
a s d tin mt ln im tr li.
30.3 QUN TR TIN MT
Khong cch theo m hnh Miller Orr
3 / 4 phng sai tienmatthanh toanx chi ph moilanbantraiphieu
Khoangcach 3 3
Laisuat

V d: doanh nghip c s d tin mt ti thiu l

10.000$ (t gii hn di tr xung), phng sai
ca tin mt thanh ton hng ngy l 6.250.000
(tng ng lch chun l 2.500$/ngy), li
sut l 0,025%/ngy, chi ph giao dch cho mi ln
bn tri phiu l 20$.
30.3 QUN TR TIN MT
Khong cch theo m hnh Miller Orr
Khong cch = 21.634$.
Gii hn trn = 31.634$.
im tr li = 10.000 + 21.634/3 = 17.211$.