Inventory Management Crash Course 2023

Streamlining Inventory Management: Enhancing Profitability through Efficient Inventory Management.

What you'll learn

Have a full understanding of the role and key objectives of the Inventory Manager

Be able to categorise Stock Keeping Units (SKUs) / parts effectively to prioritise their activity

Recognise that suppliers and supplier relationships are critical to success and to understand what they require from suppliers to optimise their position

Gain a total overview of Inventory Management for your Manufacturing or Service business

Requirements

Basic understanding of business operations and supply chain concepts beneficial

Description

What Is Inventory Management?Inventory management refers to the process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items. There are different types of inventory management, each with its pros and cons, depending on a company’s needs.Welcome to our comprehensive online course on Inventory Management, a crucial cog in the wheel of any company's supply chain process. This course provides a deep dive into the multifaceted aspects of inventory management and control. Throughout the course, you'll investigate various factors that shape inventory management, explore an array of tools and techniques to optimize costs, and gain insight into forecasting and planning strategies.You will explore modern inventory systems and technologies, learning the differences between centralized and decentralized control of inventory. As we delve deeper, you'll encounter warehouse management, layout optimization, and warehouse management systems to further enhance your understanding of the supply chain. This course concludes with a comprehensive look at supply chain management, incorporating all the knowledge you've gained throughout.The goal of this course is to arm you with the knowledge and tools needed to optimize your inventory performance. This course will equip inventory and warehouse managers, and anyone involved in the supply chain process, with the skills necessary to control the flow of goods effectively and efficiently in their organization. Take your first step towards mastering inventory management and join us on this journey.Throughout this course, you will explore the factors that influence inventory management within your organization. You will gain a deep understanding of various inventory management tools and techniques aimed at minimizing costs and achieving service levels aligned with your organization's mission, vision, and goals. Starting with an analysis of historical demand, you will learn to distinguish between independent and dependent demand for goods or services. Leveraging this analysis, you will forecast both independent and dependent demand for inventory items, enabling you to calculate the optimal inventory level that minimizes overall inventory costs while establishing reorder points to meet desired service levels. In addition to forecasting and planning, this course covers other vital aspects of inventory management. You will explore inventory systems and technologies, warehouse management and layout optimization, just-in-time management, and warehouse management systems. Furthermore, you will gain insights into supply chain management and the challenges associated with inventory control. Whether you are a warehouse manager, stockroom manager, or involved in supply chain management, this course provides a comprehensive understanding of inventory management principles and practices. Join us to enhance your knowledge, streamline operations, and achieve high stock availability while minimizing stock value. Enroll now and embark on your journey to become an effective inventory manager!

Overview

Section 1: Introduction to Inventory Management

Lecture 1 Introduction to Inventory Management

Section 2: Types of Inventory System

Lecture 2 Types of Inventory System

Section 3: Inventory Forecasting & Cost

Lecture 3 Inventory Forecasting & Cost

Lecture 4 Inventory Valuation

Section 4: Inventory Reorder Points and Safety Stock

Lecture 5 Inventory Reorder Points and Safety Stock

Section 5: Inventory Planning & Managing

Lecture 6 Inventory Planning & Managing

Section 6: Just-in-time Management

Lecture 7 Just-in-time Management

Section 7: Inventory Systems and Technologies

Lecture 8 Inventory Systems and Technologies

Section 8: Warehouse Management and Layout Optimization

Lecture 9 Warehouse Management and Layout Optimization

Section 9: Warehouse Management System

Lecture 10 Warehouse Management System

Section 10: Supply Chain Management and Vendor Relations

Lecture 11 Supply Chain Management

Lecture 12 Vendor Relations

Section 11: Conclusion

Lecture 13 Conclusion

Anyone involved in Supply Chain, Inventory Management and finance who has an interest in the management and movement of stock, categorisation of products / Stock Keeping Units (SKUs) and ensuring optimum availability (Service Levels) whilst minimisng stock levels.