Selective Inventory Control Techniques in Supply Chain
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.
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.
Instructor
- 4.4 Instructor Rating
- 751 Reviews
- 8,891 Students
- 9 Courses
SITMI is offering multiple courses in the Management areas, SITMI has been successful in its expansion in 8 countries and making further expansions. SITMI has been expert in launching courses in Supply Chain, Human Resource, Lean Management, Operations Management, International Business and other areas.
SITMI works collaboratively with multiple experts in Academics and Industrial sector to make quality contents and making them available for the audience.