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Fundamentals of Inventory Management Using Microsoft Excel
Rating: 4.5 out of 5(305 ratings)
1,325 students

Fundamentals of Inventory Management Using Microsoft Excel

Inventory control with Excel: visualize data, apply EOQ models, and improve decisions with forecasting tools
Created byRay Harkins, The Manufacturing Academy
Last updated 6/2026
English

What you'll learn

  • The costs and benefits of inventory
  • Types of inventory
  • Overview of cycle stock, pipeline stock, and safety stock
  • Data visualizations useful to inventory management and analytics
  • Inventory on Hand calculations
  • Common inventory metrics
  • The basics of inventory acounting
  • Overview of Cost of Goods Sold (COGS)
  • Inventory Turnover Ratio and Days of Outstanding Inventory Ratio
  • Basics of demand forecasting
  • Why accurate forecasts are necessary
  • Utilizing the normal distribution to make simple demand forecasts
  • The basics of time series analysis
  • Baseline, seasonality, linear trends, and randomness
  • Total cost of inventory calculations
  • Understanding ordering and holding costs
  • The Economic Order Quantity (EOQ)
  • Topics in inventory management such as Vendor Managed Inventory (VMI) and Just in Time (JIT)
  • Inventory classification using ABS analysis
  • Common inventory management terminology
  • An overview of inventory control policies
  • Related fields of study

Course content

6 sections • 67 lectures • 6h 51m total length

  • Introduction to the Course11:03
  • Course Notes1:18
  • What is Inventory?7:37

    Define inventory as goods and materials held for resale or use in production, and highlight inflows, outflows, warehousing, pipeline inventory, losses, and obsolescence.

  • The Tradeoffs11:24
  • The Benefits of Manufacturing Inventory4:35
  • Types of Inventory6:07
  • Functional Types of Inventory, Pt 17:37

    Explore function-based inventory types, including cycle stock, safety stock, and pipeline stock, and learn to compute average cycle stock (Q/2) and average pipeline stock (D×L) for planning.

  • Functional Types of Inventory, Pt 26:28

    Calculate average pipeline stock from weekly consumption and seven-week lead times to manage in-transit inventory, and relate FOB ownership and hedge inventory versus cycle stock concepts.

  • The Saw Tooth Diagram, Pt 17:34

    Explore the sawtooth diagram and its use in deterministic inventory management, illustrated by a case study of remanufacturing automotive steering racks with a 1000 per month demand.

  • The Saw Tooth Diagram, Pt 25:19
  • Quiz on Introductory Topics
  • Introductory Practice Exercise1:26

Requirements

  • Basic knowledge of manufacturing
  • Basic knowledge of Microsoft Excel

Description

Unlock the secrets to effective inventory management with our comprehensive online course, "Fundamentals of Inventory Management Using Microsoft Excel." Designed for manufacturing professionals of all educational and experience backgrounds, this course offers a deep dive into the essential concepts, analytical techniques, and practical tools needed to excel in inventory management.

What You'll Learn:

  • Business Accounting Basics: Gain a solid understanding of business accounting as it relates to inventory management, including balance sheet and income statement analysis, calculating Cost of Goods Sold (COGS), and valuation methods such as FIFO, LIFO, and Weighted Average Cost (WAC).

  • Data Visualizations: Master the use of saw tooth diagrams and histograms to visualize and interpret inventory data effectively.

  • Demand Forecasting: Learn about normal distributions in simple demand forecasting and predictive analytics, including time series analysis methods for addressing growth trends and seasonality.

  • Total Cost of Inventory: Explore the components of total inventory cost, including holding and ordering costs, with an in-depth look at the Economic Order Quantity (EOQ) model.

  • Further Topics in Inventory Management: Gain tremendous insight into topics for your further study with lectures on ABC Analysis, Vendor Managed Inventory, Just in Time inventory, and Inventory Control Policies. Plus, learn how inventory management relates to other disciplines like Capacity Analysis, Supply Chain Management, and Quality Management.

Course Features:

  • Case Studies: Analyze real-world scenarios to understand the practical applications of inventory management concepts.

  • Quizzes and Practice Exercises: Test your knowledge and apply what you've learned through interactive quizzes and hands-on practice exercises.

  • Downloadable Course Notes and Glossary of Terminology.

  • Microsoft Excel Integration: Learn how to leverage Microsoft Excel for inventory management tasks, enhancing your analytical skills with practical, spreadsheet-based solutions.

Almost 7 hours of engaging and informative video content, providing a thorough education in the basics of inventory management principles and practices.

Who Should Enroll:

  • Manufacturing professionals seeking to improve their inventory management skills.

  • Newcomers to inventory management looking for a solid foundation in key concepts and techniques.

  • Experienced practitioners aiming to enhance their analytical abilities and apply intermediate inventory strategies.

Benefits of Taking This Course:

  • Enhanced Inventory Control: Learn how to manage inventory levels effectively to meet customer demand while minimizing costs.

  • Improved Decision-Making: Utilize data visualization and forecasting techniques to make informed inventory decisions.

  • Practical Skills: Apply your learning immediately with practice exercises and case studies that reflect real-world challenges.

In addition to all of these course materials, when you enroll in Fundamentals of Inventory Management Using Microsoft Excel, you also get:

  • LIFETIME ACCESS to all course materials AND all other materials we may add later.

  • A Certificate of Completion with your name, the course's name, and the time duration of the course (useful for fulfilling the need of some CEU requirements)

  • Q&A access through the Udemy platform to a 30+ year manufacturing, quality, engineering, and business professional.

What have other students said about this class?

"It is a very comprehensive, understandable, and motivating learning experience." - Felipe F.

"This is one of the best inventory management courses I've ever taken. The coverage of data analysis, forecasting, and even the financial aspects is incredibly comprehensive." - Mazen S.

"Good details and explanation. Beyond expectation!" - Kreat J.


Enroll now in Fundamentals of Inventory Management Using Microsoft Excel and take the first step toward mastering inventory control and optimization. Whether you're just starting out or looking to refine your skills, this course provides the knowledge and tools you need to succeed.

Enroll Today to Transform your Inventory Management Skills!

Who this course is for:

  • Inventory Analysts, Production Planners, Supply Chain Coordinators, Manufacturing Supervisors
  • Operations Analysts, Inventory Control Specialists, Procurement Analysts, Materials Planners
  • Logistics Coordinators, Demand Planners, Warehouse Supervisors, Supply Chain Analysts, Inventory Clerks
  • Excel Users in Operations, Manufacturing Professionals seeking inventory management skills

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