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Selective Inventory Control Techniques in Supply Chain

Name: Selective Inventory Control Techniques in Supply Chain
Rating: 4.4 (21 reviews)

Optimizing Supply Chain Efficiency: Mastering Selective Inventory Control Techniques

Created bySitmi Academy

Last updated 8/2023

English

English [Auto],

What you'll learn

Deep understanding of the Inventory management function.
Activities involved in Inventory Management function
Understanding Inventory Costs: A Comprehensive Overview
Need of best inventory management today - From Burden to Opportunity : Unleashing the Hidden Value of Inventory Management
Benefits of well managed inventory - From Chaos to Control Unleashing the Potential of well managed inventory
What is meaning of Selective Inventory Control Methods
9 Selective Inventory Control Methods - Categorization logic & uses (ABC, XYZ, FSN, HML, SDE, VED, S-OS, GOLF, PQR)
Overview & Excel Calculation for ABC, XYZ, HML, FSN, S-OS, VED, SDE, PQR, GOLF Analysis.
Categorizing Selective Inventory Control Methods in Microsoft Excel - Ready sheets for analysis in minutes.

Course content

3 sections • 20 lectures • 1h 54m total length

Introduction to Inventory Management & types of Inventory6:02
Explore inventory management fundamentals and the four inventory types—raw materials, work in progress, MRO, and finished goods—and how effective control reduces costs and boosts profits.
Activities involved in Inventory Management4:31
Identify the nine core activities of inventory management, from replenishment planning and assortment to cycle counting and forecasting, forming a comprehensive control framework.
Understanding Inventory Costs : Comprehensive Overview5:39
Explore the full spectrum of inventory costs—ordering, carrying, shortage, spoilage, and miscellaneous—while learning how demand forecasting, optimized levels, and effective warehouse management reduce total costs.
Need for effective inventory management today - From Burden to Opportunity6:22
Explore why inventory management is essential to control working capital and reduce carrying costs, and learn how policies, processes, leadership, and supplier coordination transform inventory from burden to opportunity.
Benefits of well managed inventory - From Chaos to Control6:55
Explore how well managed inventory reduces carrying costs and optimizes cash flow, while boosting customer satisfaction, supply chain efficiency, and profits through balanced supply and demand.

All about Selective Inventory Control, Its need & Benefit to the business6:37
Selective inventory control classifies items by value, demand, criticality, and source to prioritize high-impact products. It improves cash flow, streamlines management, and reduces carrying costs through accurate demand forecasting.
9 Selective Inventory Control Techniques widely used - Quick Overview.4:33
Explore eight widely used selective inventory control techniques, including abc analysis, xyz analysis, fsn, hml, vd, sd, golf, and seasonal sourcing, with their calculation logic and applications.
ABC Analysis - Meaning, Logic, Examples and Uses8:43
Classify inventory by value with abc analysis, a Pareto-based method splitting items into a, b, and c categories. Prioritize high-value items and use cycle counting and demand forecasting in manufacturing and retail.
ABC Analysis in MS Excel - Ready excel template for ABC analysis in a minute.12:20
XYZ Analysis - Meaning, Logic, Examples and Uses6:23
Learn how XYZ analysis classifies items into X, Y, and Z by demand variation to optimize inventory, improve demand forecasting, and strengthen supplier strategies alongside ABC analysis.
XYZ Analysis in MS Excel - Ready excel template for XYZ analysis in a minute.7:52
Explore xyz analysis in MS Excel, using last 12 months demand data to classify items into x, y, and z based on coefficient of variation.
ABC - XYZ Combination Analysis in Excel, Ready excel sheet for ABCXYZ Analysis8:35
Learn how ABC and XYZ analysis combine to enhance inventory planning in Excel, using nine combinations to drive safety stock, replenishment, and automated replenishment strategies.
FSN Analysis - Meaning, Logic, Examples and Uses5:27
Explore FSN analysis of fast moving, slow moving, and non-moving items to optimize inventory, manage working capital, and improve demand forecasting with actions for each category.
HML Analysis - Meaning, Logic, Examples and Uses2:38
Identify high, medium, and low value items by unit price using HML analysis, with thresholds over $1000, $400–$1000, and under $400; support inventory optimization, demand forecasting, and obsolescence management.
VED Analysis - Meaning, Logic, Examples and Uses5:36
Analyze inventory using the VED framework—vital, essential, and desirable—to prioritize stock based on production impact, with hospital and auto parts examples guiding purchasing policies and stock levels.
SDE Analysis - Meaning, Logic, Examples and Uses3:09
SD analysis classifies items as scarce, difficult, or easy based on procurement challenges. It uses this classification to design purchasing policies and determine stocking requirements.
GOLF Analysis - Meaning, Logic, Examples and Uses3:17
Golf analysis classifies procurement sources into government, ordinary, local, and foreign suppliers, linking lead times, incoterms, and sourcing decisions to improve selective inventory control.
S-OS Analysis - Meaning, Logic, Examples and Uses1:28
Explore seasonal and off-season analysis, understand the seasonality of items, with examples like umbrellas and raincoats, and learn strategies to buy off-season stock to increase profit.
PQR Analysis - Meaning, Logic, Examples and Uses1:42
PQR analysis classifies items into P, Q, and R by shelf life, emphasizing R items with shortest shelf life; used in food and beverages and medical drugs.
HML, PQR Analysis in Excel & Brief on analysis techniques6:53
Explore how HML and PQR analyses segment inventory in Excel, using price and shelf life criteria, and see how ABC, XYZ, FSN and PCA frameworks guide strategic decisions.

Requirements

English Language
Software used to read PDF documents (Like Adobe)
Microsoft Excel Basic awareness
Learning & attentive mindset

Description

Unlock Your Inventory Optimization through selective inventory control techniques.

Are your supply chain woes keeping you up at night? Unleash the power of strategic inventory management and revolutionize your business operations today!

| Master the Art of Inventory Optimization | Boost Efficiency & Reduce Costs | Seamlessly Integrate Supply Chain Tactics | Elevate Your Career with In-Demand Skills

Join our exclusive Udemy course and gain the expertise to streamline your inventory processes, enhance customer satisfaction, and supercharge your business growth.
What You'll Learn:

- Inventory Planning

- Inventory Costs and Impact

- Selective Inventory control Techniques

Enroll Now and Enjoy:

- On-Demand Video Lessons - Learn at Your Pace

- Interactive Quizzes - Reinforce Your Knowledge

- Lifetime Access - Stay Updated Always

- Expert Q&A - Get Your Questions Answered

- Certificate of Completion - Showcase Your Skills

Invest in your future. Transform your supply chain. Enroll in "Strategic Inventory Management" now!

Background of the course

This course will help you drastically improve your knowledge and skills in Inventory Management practices through a series of must know concepts, practical cases, calculations, examples and Ready Excel Templates for numerous inventory analysis in few minutes. This course is designed by Academic & Industry experts in the field for everyone who is in Supply Chain / Inventory / Demand planning role or wanted to make their career in the field. This course is designed for Supply Chain Managers, Inventory Managers, Supply Chain Analysts, Buyers, Demand Planners, Inventory planners, Transportation, warehousing & Logistics planners & even supply chain leaders.

What this course covers?

This course covers extensive content in a simple explanations and covers all must know topics within inventory management practices in five key modules as below.

Module 1 - Introduction to Inventory Management

· Introduction

o What is inventory

o Types and of inventory

· Activities involved in Inventory Management function

· Understanding Inventory Costs: A Comprehensive Overview

o Ordering Cost

o Carrying or holding cost

o Shortage or stock out cost

o Spoilage cost

o Other costs

o Tabular examples of the costs

· Need for effective inventory management today - From Burden to Opportunity

o Contribution of Inventory in working capital

o Research studies about inventory contribution in company’s working capital.

o Inventory contribution in retail, manufacturing and service companies.

o Role of inventory holding cost

o Research studies on contribution of holding cost in inventory costs.

· Benefits of well managed inventory - From Chaos to Control

o Cost optimization & Cash flow management

o Customer Satisfaction

o Improved supply chain efficiency.

o Profit maximization

Module 2 - Selective Inventory control methods & Analysis in Excel

· Overview of Selective inventory control

· Why Selective inventory control?

· What are benefits of selective inventory control?

· Overview of ABC Analysis - Meaning, Logics & Uses.

· Overview of XYZ Analysis - Meaning, Logics & Uses.

· Overview of HML Analysis - Meaning, Logics & Uses.

· Overview of FSN Analysis - Meaning, Logics & Uses.

· Overview of VED Analysis - Meaning, Logics & Uses.

· Overview of SDE Analysis - Meaning, Logics & Uses.

· Overview of S-OS Analysis - Meaning, Logics & Uses.

· Overview of GOLF Analysis - Meaning, Logics & Uses.

· Overview of PQR Analysis - Meaning, Logics & Uses.

· Excel Calculation & Automated calculation sheet for ABC, XYZ, HML, FSN, PQR, ABC-XYZ analysis.

Who this course is for:

Professionals - Like Buyers, Demand Planners, Logistics Planners, Inventory Planners, Supply Chain Managers, Supply Chain Analysts.
Professionals looking to make their career or switch their careen in Supply Chain field.

Selective Inventory Control Techniques in Supply Chain

What you'll learn

Explore related topics

Course content

Overview on - Inventory Management, Inventory Activities & Inventory Costs5 lectures • 29min

Selective Inventory control methods & their categorization steps in Excel15 lectures • 1hr 25min

Final Quiz0

Requirements

Description

Who this course is for: