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Course Description

In this course, you will investigate the different factors that impact inventory management at your organization. You will explore a variety of inventory management tools and techniques to minimize costs and meet service levels that accord with your organization's mission, vision, and goals. You will then analyze historical demand for a good or service, considering whether they exhibit dependent or independent demand. Using that analysis, you will forecast independent and dependent demand for inventory items; this will allow you to calculate the inventory level that minimizes overall inventory costs for your organization while establishing reorder points that meet your proscribed service levels. By the end of the course, you will have created an MS Excel forecasting model and an EOQ model that will allow you to efficiently optimize your inventory.

Faculty Author

Christopher Gaulke

Benefits to the Learner

  • Distinguish between dependent and independent demand inventories and how they impact forecasting
  • Identify the different types of inventory along with their functions and associated costs
  • Calculate the inventory level that minimizes overall inventory costs
  • Determine the appropriate reorder point to ensure required service levels while minimizing inventory investment

Target Audience

  • Operations managers and executives
  • Purchasing department staffers
  • Supply chain managers
  • Procurement clerks
  • Inventory managers
  • Aspiring procurement and purchasing managers
  • Entrepreneurs

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Language of Delivery
English
Type
2 week
Dates
Sep 21, 2022 to Oct 04, 2022
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Nov 16, 2022 to Nov 29, 2022
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Jan 11, 2023 to Jan 24, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Mar 08, 2023 to Mar 21, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
May 03, 2023 to May 16, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Jun 28, 2023 to Jul 11, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Aug 23, 2023 to Sep 05, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Oct 18, 2023 to Oct 31, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Language of Delivery
English
Type
2 week
Dates
Dec 13, 2023 to Dec 26, 2023
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
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