Inventory Management – Supply Chain Fundamentals
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This course covers the basics of inventory control and management operations and the role of inventory management within an organization’s overall supply chain. You will learn the key elements of inventory control and management, including inventory cost components, types and uses of inventory, planning inventory levels, maintaining inventory accuracy, and metrics and roles associated with inventory management.
What You Will Learn
- Inventory categorization and management
- Inventory at distribution centers
- Inventory management functions
- Inventory replenishment
- Inventory control tools and techniques
How You Will Benefit
- Discuss key concepts of inventory storage and deployment.
- Explain methods used to measure inventory accuracy and stock keeping.
- Understand how inventory management works with other functional groups in a company.
- Describe the link between inventory management and forecasting.
- Learn about uncertainty in the inventory process and how to address it.
- Understand how better visibility of inventory and demand can reduce total inventory.
- Review key measures of inventory performance.
- Explain the costs related to inventory.
- Introduction to inventory management
- Monitoring and analyzing inventory management
- Inventory control
- Inventory management and forecasting
- Managing inventory in the supply chain
- Inventory performance measurement & financial implications
Who should attend
This course is designed for individuals working in or interested in working in the procurement and sourcing space. Other individuals working in the supply chain can also benefit. Typical titles include inventory planners, order management supervisors, demand planners, supply planners, forecast analysts, and forecasting managers; inventory managers, inventory clerks, and inventory analysts.