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Inventory modelling using Excel
Rating: 5.0 out of 5(68 ratings)
120 students

Inventory modelling using Excel

Excel Inventory Modelling Course
Created byPattabhi Raman
Last updated 4/2024
English
English [Auto],

What you'll learn

  • Students will gain a strong foundation in the core concepts relevant to the subject matter of the course.
  • Plan, design, implement, test, and launch inventory model in Excel within specified timeframe.
  • Get better at learning the subject
  • "Optimize inventory levels and costs through Excel modeling for efficient supply chain management."

Course content

1 section5 lectures1h 18m total length
  • Inventory Modeling Part 120:12

    Explore inventory modeling in Excel, calculating cycle stock, safety stock, and other classifications while comparing lot-for-lot, EOQ, two-bin systems, and transport and aging considerations to balance service level and cost.

  • Inventory Modeling Part 229:41

    Learn to calculate safety stock for 90% and 97% service levels in excel using mean absolute deviation, RMSE, and standard deviation. Compare current stock to levels and apply order quantity.

  • Inventory Modeling Part 314:00

    Explore inventory modeling with cycle stock and safety stock, now incorporating lead time variation to quantify safety stock and balance service level, demand variation, and holding costs.

  • Inventory Modeling Part 414:23

    Learn how to scale inventory modeling from Excel to Python using Google Colab, with automated data prep, EOQ-like safety stock, cycle stock, and red-yellow-green classifications for thousands of items.

  • Inventory Modeling Solution & Template0:13

Requirements

  • No prior requirements

Description

"Inventory Modelling using Excel" is a comprehensive course designed to teach participants how to effectively manage and optimize inventory using Microsoft Excel. The course covers various inventory modeling techniques and tools that can be implemented to improve inventory management practices in businesses of all sizes.

Throughout the course, participants will learn how to create and analyze inventory models using Excel's powerful features and functions. They will be introduced to different types of inventory models, including deterministic and stochastic models, and will understand when and how to apply each model based on specific business needs and scenarios.

The course will also cover key inventory metrics and performance indicators, such as inventory turnover, carrying costs, and stockout rates, and demonstrate how these metrics can be calculated and analyzed using Excel.

Participants will gain hands-on experience through practical exercises and case studies that simulate real-world inventory management challenges. By the end of the course, participants will have the skills and knowledge to develop effective inventory models, optimize inventory levels, reduce costs, and improve overall operational efficiency within their organizations.

Whether you are a business owner, supply chain manager, inventory analyst, or aspiring professional looking to enhance your skills in inventory management, this course will provide you with the tools and techniques needed to excel in today's competitive business environment. Join us and unlock the power of Excel for inventory modeling and optimization.

Who this course is for:

  • Any one can take up this