Inventory Management A-Z: Supply Chain & Business Operations

Inventory Management A-Z: Supply Chain & Business Operations, available at $89.99, has an average rating of 4.51, with 72 lectures, 2 quizzes, based on 4631 reviews, and has 17982 subscribers.

You will learn about Become the Inventory Guru in your team! Master this essential area of Supply Chain Management Gain a total overview of Inventory Management for your Manufacturing or Service business Little's Law – calculate required inventory using Little's Law Economic Order Quantity – formula to calculate how much to order Price Break Model – advanced EOQ when prices vary with order quantity Inventory Dynamics – how to study inventory levels over time to make better decisions ABC Analysis – classify and group your inventory to prioritise attention Performance Metrics – use the essential KPIs to keep your "finger on the pulse" Safety Stock level calculations – simple method and using statistics modelling step by step Increase profitability, improve delivery and use your resources more efficiently Boost your career: increase your confidence to see and lead change , impress your own boss and become a better manager This course is ideal for individuals who are Supply Chain Managers. Working in Operations, Manufacturing or Service sectors, Production and Industry or Logistics, Purchasing, Customer Relationship Managers or Financial Controllers, Accountants, Business Analysts & Consultants or Small Business Owners & Operations Managers or Ambitious Self-Starters who want to have a Bigger Impact at work, Improve Things and Get Noticed or People working in Production, Manufacturing, Industrial Operations, Business Operations or A Desire to Become the Authority in your workplace on Business Inventory Management It is particularly useful for Supply Chain Managers. Working in Operations, Manufacturing or Service sectors, Production and Industry or Logistics, Purchasing, Customer Relationship Managers or Financial Controllers, Accountants, Business Analysts & Consultants or Small Business Owners & Operations Managers or Ambitious Self-Starters who want to have a Bigger Impact at work, Improve Things and Get Noticed or People working in Production, Manufacturing, Industrial Operations, Business Operations or A Desire to Become the Authority in your workplace on Business Inventory Management.

Enroll now: Inventory Management A-Z: Supply Chain & Business Operations

Summary

Title: Inventory Management A-Z: Supply Chain & Business Operations

Price: $89.99

Average Rating: 4.51

Number of Lectures: 72

Number of Quizzes: 2

Number of Published Lectures: 71

Number of Published Quizzes: 2

Number of Curriculum Items: 74

Number of Published Curriculum Objects: 73

Number of Practice Tests: 2

Number of Published Practice Tests: 2

Original Price: $129.99

Quality Status: approved

Status: Live

What You Will Learn

Become the Inventory Guru in your team! Master this essential area of Supply Chain Management
Gain a total overview of Inventory Management for your Manufacturing or Service business
Little's Law – calculate required inventory using Little's Law
Economic Order Quantity – formula to calculate how much to order
Price Break Model – advanced EOQ when prices vary with order quantity
Inventory Dynamics – how to study inventory levels over time to make better decisions
ABC Analysis – classify and group your inventory to prioritise attention
Performance Metrics – use the essential KPIs to keep your "finger on the pulse"
Safety Stock level calculations – simple method and using statistics modelling step by step
Increase profitability, improve delivery and use your resources more efficiently
Boost your career: increase your confidence to see and lead change , impress your own boss and become a better manager

Who Should Attend

Supply Chain Managers. Working in Operations, Manufacturing or Service sectors, Production and Industry
Logistics, Purchasing, Customer Relationship Managers
Financial Controllers, Accountants, Business Analysts & Consultants
Small Business Owners & Operations Managers
Ambitious Self-Starters who want to have a Bigger Impact at work, Improve Things and Get Noticed
People working in Production, Manufacturing, Industrial Operations, Business Operations
A Desire to Become the Authority in your workplace on Business Inventory Management

Target Audiences

Supply Chain Managers. Working in Operations, Manufacturing or Service sectors, Production and Industry
Logistics, Purchasing, Customer Relationship Managers
Financial Controllers, Accountants, Business Analysts & Consultants
Small Business Owners & Operations Managers
Ambitious Self-Starters who want to have a Bigger Impact at work, Improve Things and Get Noticed
People working in Production, Manufacturing, Industrial Operations, Business Operations
A Desire to Become the Authority in your workplace on Business Inventory Management

This MBA style course prepares and empowers you to make a REAL difference. Turbo-charge your career, and your business performance, to the highest levels.

This course is for the new or aspiring operations manager, the ambitious procurement professionals, the striving logistics supervisors, hands-on production planners and the practical business optimization analysts.

Take control of your inventory management to have and “impact” and “improve” your business operations – manufacturing, services, industrial operations and production.
Equip yourself to take a new leading role in your workplace – improving your processes, systems, business / organization.
Understand the fundamentals, then details of the essentials of inventory management, the core business trade-offs, essential analysis, calculations and basic optimisation methods.
Become the Inventory Supply Chain authority in your team on improving the operations systems in your business

Specific Techniques and Calculation Methods taught:

Little’s Law : Calculate your mathematical minimum WIP for your process
Economic Order Quantity (EOQ) : Master this most common formula to minimise your total costs
Price Break Model: An advanced EOQ method which lets us consider price discounts with order size
ABC Analysis: Classify and group your inventory to prioritise attention
Performance Metrics: Detailed explanation of the top 8 most important and useful inventory KPIs
Safety Stock Levels: Calculate and cover your risk with basic and an advanced version using statistics modelling step by step in excel

Business operations come in all shapes and sizes with a host of unique challenges; but good inventory management is essential to them all. Whether you work in retail, manufacturing production, distribution and logistics or even service companies such as restaurants, hospitality or health and beauty; having the right stock available whilst minimising costs and risk is the fundamental balance that can determine your business’s success. Getting a strong control and continuously improving your business operations is essential to remain competitive, improving profitability, improving customer experience and customer satisfaction, reducing costs and improving delivery.

Without a solid grasp of inventory, no operations manager, junior or senior, can competently or confidently look to improve their business, the processes, systems and teams that make it successful.

Take control of your career and equip yourself with a solid base in Inventory Management full of practical insights and tools that you can use right now to unlock the potential of your business processes!

Course Sections:

1. Introduction to Inventory Management

2. What is inventory?

3. Why do we need inventory?

4. Costs of inventory

5. Measuring Performance

6. Part Classification

7. Inventory Dynamics

8. Economic Order Quantity

9. EOQ Advanced: Price Break Model

10. Order Timing and Inventory Control

11. Safety Stock Calculations

Course Extras

Downloadable Documents with summaries and exercises
Summary Test with 70 multiple choice questions to test and lock in your learnings

Take control! Boost your career and your business! Start learning today!

1. Introduction to Inventory Management

Welcome

Traveler’s Dilemma

Motorbiking down Africa

Any Questions

What is Inventory Management

Why is Inventory Management important

Course Topics

2. What is inventory?

What is Inventory

Inventory though your business

Types of Inventory

3. Why do we need inventory?

Why do we “need” inventory?

Why else do we hold inventory?

Other “less good” reasons for inventory

Little’s Law16. Little’s Law: Example 2

4. Costs of inventory

Costs of Inventory

Financial View of Inventory

Operational Costs of Inventory

Scottish Whiskey

Costs of not enough inventory

Business Conflicts

Rock Boat Analogy

5. Measuring Performance

Measuring Performance – Introduction

What are Metrics

Business Perspective on Inventory Performance

Popular Inventory Metrics

Inventory Turns and Days on Hand

Turns Examples

Control Charts

Inventory Dollar Days and GMROI

Other Metrics

6. Part Classification

Part Classification – Introduction

ABC Analysis35. Runners, Repeaters & Strangers

Independent vs Dependent Demand

BOM & MRP

7. Inventory Dynamics

Basic Inventory Dynamics – Introduction

Inventory Dynamics 1

Inventory Dynamics 2

8. Economic Order Quantity

Order Quantity Decisions – Introduction

Economic Order Quantity

EOQ Examples

Sensitivity and Limitations of EOQ

Batch Sizes and WIP

Economic Batch Quantity (EBQ)

Order Quantity Decisions – Other Methods

9. EOQ Advanced: Price Break Model

Price Break Model & EOQ

Price Break Model – Example

Understanding the curve

Price Break Model – Exercise

10. Order Timing and Inventory Control

Order Timing Decisions – Introduction

When to order?

Continuous Review System

Tracking Inventory Levels

Passive Inventory Control – Pull

Inventory Position

Inventory Position – Exercise

11. Safety Stock Calculations

Safety Stock – Introduction

Why Safety Stock?

Calculating Safety Stock – Simple

Calculating Safety Stock – using Statistics

Normal Distributions and Standard Deviation

Choosing your service level

Calculating Safety Stock – Example

Calculating Safety Stock – Example 2

Safety Stock Summary

Take control! Boost your career and your business! Start learning today!

All the inventory you could possibly need! 🙂

See you on the inside!

Laurence

Course Curriculum

Chapter 1: Introduction to Inventory Management

Lecture 1: Welcome

Lecture 2: The Traveler's Dilemma

Lecture 3: Motorbiking down Africa

Lecture 4: Any Questions

Lecture 5: What is Inventory Management?

Lecture 6: Why is Inventory Management Important?

Lecture 7: Course Topics

Chapter 2: What is Inventory?

Lecture 1: What is Inventory?

Lecture 2: Inventory through your business

Lecture 3: Types of Inventory

Chapter 3: Why do we "need" Inventory?

Lecture 1: Why do we "need" Inventory?

Lecture 2: Why Else do we Hold Inventory?

Lecture 3: Other "less good" Reasons for Inventory

Lecture 4: Little's Law

Lecture 5: Little's Law: Example 2

Chapter 4: Costs of Inventory

Lecture 1: Costs of Inventory

Lecture 2: Financial View of Inventory

Lecture 3: Operational Costs of Inventory

Lecture 4: Scottish Whiskey

Lecture 5: Costs of Not Enough Inventory

Lecture 6: Business Conflicts

Lecture 7: Rock Boat Analogy

Chapter 5: Summary Quiz 1

Chapter 6: Measuring Performance

Lecture 1: Measuring Performance – Introduction

Lecture 2: What are Metrics?

Lecture 3: Business Perspective on Inventory Performance

Lecture 4: Popular Inventory Metrics

Lecture 5: Inventory Turns and Days on Hand

Lecture 6: Inventory Turns Examples

Lecture 7: Control Charts

Lecture 8: Inventory Dollar Days and GMROI

Lecture 9: Other Metrics

Chapter 7: Part Classification

Lecture 1: Part Classification – Introduction

Lecture 2: ABC Analysis

Lecture 3: Runners, Repeaters & Strangers

Lecture 4: Independent vs Dependent Demand

Lecture 5: BOM & MRP

Chapter 8: Inventory Dynamics

Lecture 1: Basic Inventory Dynamics – Introduction

Lecture 2: Inventory Dynamics 1

Lecture 3: Inventory Dynamics 2

Chapter 9: Economic Order Quantity – EOQ

Lecture 1: Order Quantity Decisions – Introduction

Lecture 2: Economic Order Quantity

Lecture 3: EOQ Examples

Lecture 4: Sensitivity and Limitations of EOQ

Lecture 5: Batch Sizes and WIP

Lecture 6: Economic Batch Quantity (EBQ)

Lecture 7: Order Quantity Decisions – Other Methods

Chapter 10: EOQ Advanced: Price Break Model

Lecture 1: Price Break Model & EOQ

Lecture 2: Price Break Model – Example

Lecture 3: Understanding the PBM Curve

Lecture 4: Price Break Model – Exercise

Chapter 11: Order Timing and Inventory Control

Lecture 1: Order Timing Decisions – Introduction

Lecture 2: When to order?

Lecture 3: Continuous Review System

Lecture 4: Tracking Inventory Levels

Lecture 5: Passive Inventory Control – Pull

Lecture 6: Inventory Position

Lecture 7: Inventory Position – Exercise

Chapter 12: Safety Stock Calculations

Lecture 1: Safety Stock – Introduction

Lecture 2: Why Safety Stock?

Lecture 3: Calculating Safety Stock – Simple

Lecture 4: Calculating Safety Stock – using Statistics

Lecture 5: Normal Distributions and Standard Deviation

Lecture 6: Choosing your Service Level

Lecture 7: Calculating Safety Stock – Example

Lecture 8: Calculating Safety Stock – Example 2

Lecture 9: Safety Stock Summary

Lecture 10: Safety Stock – Take it further

Chapter 13: Summary Test 2

Chapter 14: CONCLUSION

Lecture 1: Conclusion

Chapter 15: BONUS SECTION

Lecture 1: What's Next? – Further Reading

Lecture 2: Your Certificate – How to Download, Modify & Share it

Lecture 3: Bonus Lecture – My Other Courses & Connection

Instructors

Laurence Gartside
Management Consultant and Coach
Rowtons Training
Level-Up Your Business Operations Fundamentals!

Rating Distribution

1 stars: 33 votes
2 stars: 54 votes
3 stars: 430 votes
4 stars: 1626 votes
5 stars: 2488 votes

Frequently Asked Questions

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