Effective Inventory Management

What you’ll learn
Fundamentals of inventory management, types of inventory, reasons for maintaining inventory, inventory costs and reduction of inventory
Calculating cycle inventory and other inventory measures
Classification of inventory using ABC analysis
Type of Inventory replenishment systems

Requirements
You don’t need any perquisites for taking this course

Description
Inventory is one of the key aspects of any business whether it is a part of manufacturing or retail or even services industry. Effective inventory management can take your business to new heights.

This course enables you to learn the fundamentals of inventory management, types of inventory, reduction of inventory cost and the reasons for maintaining inventory. You will also be able to calculate the annual demand of inventory, cycle inventory and average aggregate inventory. This course will also teach the concept of ABC Analysis, inventory measures and types of inventory replenishment systems.

This course can be useful for students studying operations management, professionals working in IT industry responsible for designing inventory systems, inventory managers trying to optimize their inventory. There will be 14 lectures in the course covering the main topics of inventory management.

Following are the lectures that are part of the effective inventory management course – Fundamentals of inventory management, types of Inventory, reasons for maintaining inventory, inventory costs, reduction of inventory, annual demand and cycle inventory, inventory measures, inventory measures using an example, calculation of inventory using an example, concepts of ABC analysis, ABC analysis using an example, type of inventory replenishment systems, fixed order quantity model using examples.

Who this course is for
The course can be useful for students studying operations management, professionals working in IT industry responsible for designing inventory systems, inventory managers trying to optimize their inventory