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Supply chain management: inventory management and control
Rating: 3.9 out of 5(14 ratings)
36 students

Supply chain management: inventory management and control

Learn how inventory management is critical to your business and how to manage it to maximize your profit.
Created byAlabaad for training & Consultancy . Abaad
Last updated 10/2021
English

What you'll learn

  •  Understand the importance of inventory & the role it plays in the profitability of the business.
  •  Examine the most appropriate method for managing an item•
  •  Understand the value chain in inventory management.
  •  Apply best methods to optimize the investment in inventory.
  •  Examine the appropriate inventory management technique for each type of item.
  •  Understand the variety of techniques, tools, and technologies that a business uses to manage and control their inventory.
  •  learn hands-on tools and skills to discover and solve inventory problems by data analytics.
  •  Learn Warehousing concepts, Equipment and Processes.
  •  Understand the inventory management software systems.

Course content

10 sections • 56 lectures • 3h 45m total length

  • introduction2:53
  • elements of inventory management4:08
  • The importance of inventory management.5:00
  • The difference between inventory management and control.2:01
  • Objectives of inventory control and challenges.2:28
  • Retail inventory management.4:13
  • Inventory management terms.8:24
  • Inventory management best practices.4:14
  • Key inventory management formulas.1:46
  • Sell through rate.1:10
  • Days of inventory outstanding.0:54
  • Safety stock.0:42
  • Reorder point.1:00
  • Economic order quantity.0:48
  • Inventory management software.2:07

Requirements

  • A positive attitude and will.

Description

good inventory management is essential to all business operations; having the right stock available whilst minimizing costs and risk is the fundamental factor that impact your business’s success. Getting a strong control and continuously improving your business operations is essential to remain competitive, improving profitability, customer experience and satisfaction, reducing costs, and improving delivery.
With a solid grasp of inventory, operations manager, can confidently competent, improve and develop his business, the processes, systems, and teams that make it successful.

This course educates and empowers you to achieve a real difference. Bring your career, and your business performance, to the highest levels.

This course is designed for aspiring operations manager, the ambitious procurement professionals, the striving logistics supervisors, production planners and the practical business optimization analysts.

By the end of this course the participants will be able to:

· Know the principles and purpose on inventory management and control.

· Understand the costs associated with inventory management.

· Be knowledgeable in Inventory verification and valuation methods.

· Understand the different approaches for effective management of dependent demand and independent demand inventories and when to apply them.

· Know the fundamentals of warehousing and stock handling.

· Understand the organizational structure and functional responsibilities in inventory and warehousing.

· Know how to measure and improve inventory management performance.

· Understand the different types of inventories and importance of inventory to organizations.

Who this course is for:

  • This course targets Finance, procurement, and supply chain professionals looking for ways to become more effective and efficient by improving their inventory management methodologies. Warehouse managers and warehouse employees.

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