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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
Type
2 week
Dates
May 29, 2024 to Jun 11, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Aug 07, 2024 to Aug 20, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Oct 16, 2024 to Oct 29, 2024
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
Type
2 week
Dates
Dec 25, 2024 to Jan 07, 2025
Total Number of Hours
10.0
Course Fee(s)
Regular Price $999.00
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