Certification in Inventory Control Management

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Free Download Certification in Inventory Control Management
Published 5/2024
Created by Edcorner Learning
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz, 2 Ch
Genre: eLearning | Language: English | Duration: 79 Lectures ( 2h 13m ) | Size: 920 MB

Inventory Control Management with all concepts and 50 Exercises and Solution
What you'll learn:
Inventory Control Management
Material Management
Inventory Control Scenarios
Economic Order Quantity (EOQ) Models
Production Quantity Model
50 Inventory Control Exercises and Solutions
Requirements:
Eager to learn.
Description:
The Certification in Inventory Control Management is designed to provide comprehensive knowledge and practical skills required to effectively manage and control inventory in a dynamic supply chain environment. This course covers essential concepts, methodologies, and tools used in inventory control and materials management, equipping participants with the expertise to optimize inventory levels, reduce costs, and improve overall supply chain efficiency.Course Outline:Materials Management: DefinitionUnderstanding the fundamental concepts and scope of materials management.Materials ManagementIn-depth exploration of materials management practices and their significance in the supply chain.Materials Management: ObjectivesIdentifying the primary goals and objectives of effective materials management.Responsibilities of Materials ManagementExploring the key responsibilities and roles involved in materials management.What Is Inventory?Defining inventory and its critical role in business operations.Components of InventoryExamining the various components that constitute inventory.Inventory and Supply Chain ManagementUnderstanding the relationship between inventory management and supply chain efficiency.Inventory ControlStrategies and techniques for maintaining optimal inventory levels.Various Types of AnalysisOverview of different analytical methods used in inventory control.ABC ClassificationIntroduction to ABC classification as a method for categorizing inventory.ABC Classification: Example and CalculationsPractical examples and calculations to apply ABC classification.Advantages of ABC AnalysisBenefits and advantages of implementing ABC analysis in inventory management.Limitations of ABC AnalysisDiscussing the limitations and challenges of ABC analysis.V.E.D. (Vital, Essential, Desirable) AnalysisIntroduction to VED analysis for prioritizing inventory items based on criticality.Economic Order Quantity (EOQ) ModelsUnderstanding the EOQ models for determining optimal order quantities.Assumptions of Basic EOQ ModelKey assumptions underlying the basic EOQ model.Inventory Order CycleExploring the inventory order cycle and its components.EOQ Cost Model FormulaDetailed explanation of the EOQ cost model formula.EOQ Cost Model GraphVisual representation of the EOQ cost model.Production Quantity ModelIntroduction to the production quantity model for batch production.Production Quantity Model Graph and FormulaGraphical and formulaic representation of the production quantity model.Production Quantity Model Example and CalculationsPractical examples and calculations for the production quantity model.Quantity DiscountsExploring quantity discount models and their impact on inventory decisions.Quantity Discount Model GraphVisual representation of the quantity discount model.Quantity Discount Model ExamplePractical example to understand the application of quantity discount models.Safety StockUnderstanding the concept and importance of safety stock in inventory management.Reorder PointDetermining the reorder point to maintain adequate inventory levels.Variable Demand with a Reorder PointManaging inventory with variable demand and setting appropriate reorder points.Reorder Point with a Safety StockCalculating reorder points considering safety stock levels.50 Exercises and SolutionsHands-on exercises and detailed solutions to reinforce learning and practical application.Course Outcomes:Upon completion of the Certification in Inventory Control Management, participants will be able to:Understand the principles and objectives of materials management.Classify and manage inventory effectively using various analytical methods.Optimize inventory levels using EOQ and other inventory models.Implement safety stock and reorder point strategies to handle variable demand.Apply quantity discount models to improve cost efficiency.Utilize practical exercises and solutions to solve real-world inventory control challenges.Who Should Attend:This course is ideal for supply chain professionals, inventory managers, procurement specialists, anyone wants to learn and get involved in materials management and inventory control who seeks to enhance their knowledge and skills in this critical area.Enroll in the Certification in Inventory Control Management today and take the first step towards mastering the art of efficient inventory control!
Who this course is for:
Supply chain Professionals
This course is for anyone who wants to learn professional inventory management and inventory control and be part of supply chain management team.
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