Fundamentals of Inventory Management Using Microsoft Excel

Fundamentals of Inventory Management Using Microsoft Excel, available at $44.99, has an average rating of 4.88, with 66 lectures, 4 quizzes, based on 4 reviews, and has 47 subscribers.

You will learn about The costs and benefits of inventory Types of inventory Overview of cycle stock, pipeline stock, and safety stock Data visualizations useful to inventory management and analytics Inventory on Hand calculations Common inventory metrics The basics of inventory acounting Overview of Cost of Goods Sold (COGS) Inventory Turnover Ratio and Days of Outstanding Inventory Ratio Basics of demand forecasting Why accurate forecasts are necessary Utilizing the normal distribution to make simple demand forecasts The basics of time series analysis Baseline, seasonality, linear trends, and randomness Total cost of inventory calculations Understanding ordering and holding costs The Economic Order Quantity (EOQ) Topics in inventory management such as Vendor Managed Inventory (VMI) and Just in Time (JIT) Inventory classification using ABS analysis Common inventory management terminology An overview of inventory control policies Related fields of study This course is ideal for individuals who are Inventory Analysts, Inventory Managers, Buyers, Production Planners or Supply Chain Analysts, Supply Chain Managers or Manufacturing Managers, Operations Managers, Operations Analysts or Planning and Fulfillment Professionals, Logistics and Transportation Professionals It is particularly useful for Inventory Analysts, Inventory Managers, Buyers, Production Planners or Supply Chain Analysts, Supply Chain Managers or Manufacturing Managers, Operations Managers, Operations Analysts or Planning and Fulfillment Professionals, Logistics and Transportation Professionals.

Enroll now: Fundamentals of Inventory Management Using Microsoft Excel

Summary

Title: Fundamentals of Inventory Management Using Microsoft Excel

Price: $44.99

Average Rating: 4.88

Number of Lectures: 66

Number of Quizzes: 4

Number of Published Lectures: 66

Number of Published Quizzes: 4

Number of Curriculum Items: 70

Number of Published Curriculum Objects: 70

Original Price: $39.99

Quality Status: approved

Status: Live

What You Will Learn

The costs and benefits of inventory
Types of inventory
Overview of cycle stock, pipeline stock, and safety stock
Data visualizations useful to inventory management and analytics
Inventory on Hand calculations
Common inventory metrics
The basics of inventory acounting
Overview of Cost of Goods Sold (COGS)
Inventory Turnover Ratio and Days of Outstanding Inventory Ratio
Basics of demand forecasting
Why accurate forecasts are necessary
Utilizing the normal distribution to make simple demand forecasts
The basics of time series analysis
Baseline, seasonality, linear trends, and randomness
Total cost of inventory calculations
Understanding ordering and holding costs
The Economic Order Quantity (EOQ)
Topics in inventory management such as Vendor Managed Inventory (VMI) and Just in Time (JIT)
Inventory classification using ABS analysis
Common inventory management terminology
An overview of inventory control policies
Related fields of study

Who Should Attend

Inventory Analysts, Inventory Managers, Buyers, Production Planners
Supply Chain Analysts, Supply Chain Managers
Manufacturing Managers, Operations Managers, Operations Analysts
Planning and Fulfillment Professionals, Logistics and Transportation Professionals

Target Audiences

Inventory Analysts, Inventory Managers, Buyers, Production Planners
Supply Chain Analysts, Supply Chain Managers
Manufacturing Managers, Operations Managers, Operations Analysts
Planning and Fulfillment Professionals, Logistics and Transportation Professionals

Unlock the secrets to effective inventory management with our comprehensive online course, “Fundamentals of Inventory Management Using Microsoft Excel.” Designed for manufacturing professionals of all educational and experience backgrounds, this course offers a deep dive into the essential concepts, analytical techniques, and practical tools needed to excel in inventory management.

What You’ll Learn:

Business Accounting Basics: Gain a solid understanding of business accounting as it relates to inventory management, including balance sheet and income statement analysis, calculating Cost of Goods Sold (COGS), and valuation methods such as FIFO, LIFO, and Weighted Average Cost (WAC).
Data Visualizations: Master the use of saw tooth diagrams and histograms to visualize and interpret inventory data effectively.
Demand Forecasting: Learn about normal distributions in simple demand forecasting and predictive analytics, including time series analysis methods for addressing growth trends and seasonality.
Total Cost of Inventory: Explore the components of total inventory cost, including holding and ordering costs, with an in-depth look at the Economic Order Quantity (EOQ) model.
Further Topics in Inventory Management: Gain tremendous insight into topics for your further study with lectures on ABC Analysis, Vendor Managed Inventory, Just in Time inventory, and Inventory Control Policies. Plus, learn how inventory management relates to other disciplines like Capacity Analysis, Supply Chain Management, and Quality Management.

Course Features:

Case Studies: Analyze real-world scenarios to understand the practical applications of inventory management concepts.
Quizzes and Practice Exercises: Test your knowledge and apply what you’ve learned through interactive quizzes and hands-on practice exercises.
Downloadable Course Notesand Glossary of Terminology.
Microsoft Excel Integration: Learn how to leverage Microsoft Excel for inventory management tasks, enhancing your analytical skills with practical, spreadsheet-based solutions.

Almost 7 hours of engaging and informative video content, providing a thorough education in the basics of inventory management principles and practices.

Who Should Enroll:

Manufacturing professionals seeking to improve their inventory management skills.
Newcomers to inventory management looking for a solid foundation in key concepts and techniques.
Experienced practitioners aiming to enhance their analytical abilities and apply intermediate inventory strategies.

Benefits of Taking This Course:

Enhanced Inventory Control: Learn how to manage inventory levels effectively to meet customer demand while minimizing costs.
Improved Decision-Making: Utilize data visualization and forecasting techniques to make informed inventory decisions.
Practical Skills: Apply your learning immediately with practice exercises and case studies that reflect real-world challenges.

In addition to all of these course materials, when you enroll in Fundamentals of Inventory Management Using Microsoft Excel, you also get:

LIFETIME ACCESS to all course materials AND all other materials we may add later.
A Certificate of Completion with your name, the course’s name, and the time duration of the course (useful for fulfilling the need of some CEU requirements)
Q&A access through the Udemy platform to a 30+ year manufacturing, quality, engineering, and business professional.

Enroll now in Fundamentals of Inventory Management Using Microsoft Excel and take the first step toward mastering inventory control and optimization. Whether you’re just starting out or looking to refine your skills, this course provides the knowledge and tools you need to succeed.

Enroll Today to Transform your Inventory Management Skills!

Course Curriculum

Chapter 1: Introduction to Inventory Management

Lecture 1: Introduction to the Course

Lecture 2: Course Notes

Lecture 3: What is Inventory?

Lecture 4: The Tradeoffs

Lecture 5: The Benefits of Manufacturing Inventory

Lecture 6: Types of Inventory

Lecture 7: Functional Types of Inventory, Pt 1

Lecture 8: Functional Types of Inventory, Pt 2

Lecture 9: The Saw Tooth Diagram, Pt 1

Lecture 10: The Saw Tooth Diagram, Pt 2

Lecture 11: Introductory Practice Exercise

Chapter 2: Business Accounting and Inventory

Lecture 1: Introduction to the Business Accounting Section

Lecture 2: The Big Idea in Accounting

Lecture 3: Balance Sheet Example

Lecture 4: Balance Sheet Analysis, Pt 1

Lecture 5: Balance Sheet Analysis, Pt 2

Lecture 6: The Income Statement

Lecture 7: Income Statement Example

Lecture 8: Cost of Good Sold

Lecture 9: Inventory Turnover Ratio

Lecture 10: Days of Inventory Outstanding

Lecture 11: Valuation Methods

Lecture 12: Valuation Spreadsheet

Lecture 13: Accounting Practice Exercise

Chapter 3: Demand Forecasting

Lecture 1: Introduction to Demand Forecasting Section

Lecture 2: Inventory Forecasting

Lecture 3: Why Do You Need Accurate Forecasts?

Lecture 4: Forecasting Case Study #1

Lecture 5: Simple Demand Forecasting in Excel, Pt 1

Lecture 6: The Normal Distribution, Pt 1

Lecture 7: The Normal Distribution, Pt 2

Lecture 8: Simple Demand Forecasting in Excel, Pt 2

Lecture 9: Summarizing Simple Inventory Forecasting

Lecture 10: Cycle Service Level

Lecture 11: Predictive Analytics Case Study #2

Lecture 12: Simple Demand Forecasting Practice Exercise

Lecture 13: Time Series Analysis

Lecture 14: Baseline Analysis in Excel, Pt 1

Lecture 15: Baseline Analysis in Excel, Pt 2

Lecture 16: Excel Data Analysis Add-On

Lecture 17: Analyzing Seasonality

Lecture 18: Upper and Lower Forecast Estimates

Lecture 19: Algebraic Properties of a Line, Rev 1

Lecture 20: Linear Trend Analysis

Lecture 21: Excel's Regression Analysis Tool

Lecture 22: Analyzing Seasonality and Growth Combined

Lecture 23: Review of Analysis Methods

Chapter 4: Total Cost of Inventory

Lecture 1: Introduction to Total Cost of Inventory Section

Lecture 2: Total Cost of Inventory, Pt 1

Lecture 3: Total Cost of Inventory, Pt 2

Lecture 4: Total Cost Case Study

Lecture 5: Total Cost Calculations in Excel, Pt 1

Lecture 6: Total Cost Calculations in Excel, Pt 2

Lecture 7: Economic Order Quantity (EOQ)

Lecture 8: Total Cost Calculations in Excel, Pt 3

Chapter 5: Topics in Inventory Management

Lecture 1: Introduction to Further Learning

Lecture 2: Glossary of Terminology

Lecture 3: Topics in Inventory Management

Lecture 4: Inventory Classification

Lecture 5: Inventory Classification in Excel

Lecture 6: Excel Practice Exercise with Inventory Classification

Lecture 7: Inventory Control Policies, Pt 1

Lecture 8: Inventory Control Policies, Pt 2

Lecture 9: Related Fields of Study

Chapter 6: Conclusion

Lecture 1: Conclusion to the Course

Lecture 2: Bonus Lecture

Instructors

Ray Harkins, The Manufacturing Academy
Senior Manufacturing Professional, Online Educator

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Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!

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