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.
DurationCourse 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.
Commonwealth College offers career training in Winnipeg and we have students from all over the world. Programs offered at Commonwealth College are Ministry approved and ensure focussed learning.
Our faculty consists of highly experienced industry-trained tutors. If you need help in picking the right path for you, Commonwealth College’s Career Service team and Admissions Counsellors can help you find the right program and right career by carefully assessing your experience and qualifications.
This course will provide a broad introduction to the basics of materials management, manufacturing planning and control systems, inventory control, physical distribution and information flow among operational functions within the supply chain.
This course will introduce students to the principles of inventory management, proper storage techniques, and warehouse optimization and design. Students will learn demand management, order management, inventory control, and associated costs in conjunction with customer-centricity.
In this course, students will explore inventory and warehousing management, including inventory strategies, quality specification, and purchasing logistics.
The first part will deal with features of production/service systems, methods of modelling their operation and their control system. Topics include aggregate planning, forecasting techniques, work-force and operations scheduling and material requirement planning.
This one-day course shows individuals how to lead an efficiently-operated and cost-effective inventory process, with enough products available for sale and a sufficient amount of stockpiled products.
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