Inventory Management

Inventory Management is the skill to manage the storage of goods in stock as per the demand and supply in a business.

The Inventory Management and Warehousing Training focuses on the management in the balance of demand and supply along with coping with the forward and reverse flows in the supply chain.

Inventory Management corporate training and certification oriented remote program aims to upskill you with Control the Inventory Management, Improve Business Operations, Fundamentals of Inventory Management, Essential Analysis, Calculation and Optimisation.

Course Content:

• Introduction
• What is Inventory Management?
• Importance of Inventory Management 
• What comes under Inventory?
• Types of Inventory
• Why is Inventory Needed?
• How to Calculate Cost of Inventory
• Financial View 
• Operational Costs
• Scottish Whisky SCM Case Study
• How to Measure Performance?
• Inventory Metrics
• Business Perspective on Inventory Performance
• Inventory Turns
• Control Charts
• Other Metrics
• ABC Analysis : Runners, Repeaters and Strangers
• Independant vs Dependent Demand
• Bill of Material and Material Requirement Planning
• Concepts of Inventory Dynamics
• Introduction to Economic Order Quantity
• Examples of EOQ
• Senstivity and Limitations
• Batch Sizes and WIP
• Economic Batch Quantity (EBQ)
• Price Break Model of EOQ
• Introduction to Order Timing and Inventory Control
• When to Order?
• Tracking System
• Passive Inventory Control
• Inventory Position
• Safety Stock Calculation
• Normal Distributions
• Standard Deviation
• Choosing Service Level
• Vendor Managed Inventory
• Case Study Examples
• Prog360 Assessment
• Prog360 Certification