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Course Description

Different inventory types can be reduced by different amounts. For example, reducing the reorder period can decrease the amount of cycle stock necessary to meet consumer demand. Likewise, reducing average lead time can decrease the need for pipeline stock. The third type of stock, safety stock, can be decreased by several strategies, including the so-called “inventory pooling strategy.” In this lesson, you will focus on inventory pooling as a strategy for reducing the safety stock requirement. You will then analyze and aggregate demand correlations across multiple stores. Finally, you will look at the value of inventory pooling by following an example in Excel. For the best result, complete "Optimizing Inventory Management: Determine the Optimal Inventory Level for Replenishment," "Optimizing Inventory Management: Assess the Cost Performance of a Single Supply Chain Location" and "Optimizing Inventory Management: Improve Supply Chain Performance by Reconfiguration" prior to taking this lesson.

Benefits to the Learner

  • Reduce safety stock by risk pooling
  • Assess how much inventory exists in the supply chain
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Type
self-paced (non-instructor led)
Dates
Sep 28, 2023 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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