Inventory Management

Course Description

Inventory management plays an important role in an organization’s financial performance, operational efficiency and customer satisfaction.

Dependent and independent demand inventory management is crucial to strike a proper balance in meeting the strategic objective.

This course will introduce students to the fundamentals of dependent and independent demand inventory management techniques. Students will apply P and Q inventory management systems to determine to reorder point and optimal inventory levels.

Learning Outcomes

By the end of this course, students will be able to:

• APPLY Q-System to manage independent demand inventories.

• APPLY P-System and other techniques to manage independent demand inventories.

• DESCRIBE dependent demand inventory principles.

• DEVELOP single level and multi-level MRP records to manage dependent demand inventories.