Supply Chain Management : Inventory Management and Control
2021: Inventory Management in Supply Chain Management and Inventory Management in Warehouse and Logistics Management
Created by Adarsh Amal - Masters in Shipping, Logistics & Supply Chain Management.
Students: 27537, Price: $19.99
Students: 27537, Price: Paid
Practical Course on Realtime business knowledge for Inventory management in Supply Chain. As Inventory management is the heart of supply chain one needs to manage Inventory because inventory is deciding factor in profit and loss of your organization. As it is wisely said Inventory is money you have invested to make profit. This course will help you sell your Inventory fast and give you ROI for your inventory by keeping inventory at the lowest level.
As the demand for Supply Chain professionals has increased a managers who can bring profit to the organization has also increased knowing your inventory levels is the most important thing in Supply Chain.
This course will give you answers to all your question when you can fall in trouble by your wrong inventory decisions and what are the right moves for your inventory levels and tools to optimize your inventory in supply chain
Introduction to the Syllabus of the Course on Supply Chain : Inventory Management and Control
What is Inventory and Inventory Management
Based on stage Inventory
Based on Purpose Inventory
Why Inventory management is Important in Supply Chain?
Advantages and Disadvantage of High and Low level of Inventory in Inventory Management
Cost of inventory and its importance in Inventory Management
Hidden Cost of Inventory in Inventory Management
Reasons to hold extra Inventory in Inventory Management
Production Inventory Management
Finished Goods Inventory
Sales ,Operation Plan and Outsourcing Inventory in Inventory Management
Forecasting Inventory level for future sales for better Inventory Management
Tools for Inventory Management and Control
More Chapters will be added every week as over team is trying hard to constant update the course as Supply Chain is changing every passing year keeping our content and our students updated on Supply Chain is our primary focus
Also a thing to once you enroll for this course you will have lifetime access to our course and update
Inventory Control and Inventory Management Complete Course
Become Expert in Inventory Control and Inventory Management, Supply Chain Analytics.
Created by Edcorner Learning - Edcredibly - Be Incredible
Students: 8999, Price: $89.99
Students: 8999, Price: Paid
Inventory control is the process of keeping the right number of parts and products in stock to avoid shortages, overstocks, and other costly problems.
Inventory control focuses on cutting the number of slow-selling products a company purchases while also increasing the number of high-selling products. This saves businesses time and money because they don’t have to spend lots of man-hours reordering and receiving goods that they don’t really need. Plus, they avoid devoting precious warehouse space to hold those products, which cuts down on carrying costs and affords more room for faster-selling products.
By using inventory control, you are able to protect against making rash decisions and you also avoid the pain and expense that come from overstocking on inventory. As its name suggests, inventory control helps you maintain control over your inventory levels so that you make the best use of your resources and avoid product spoilage and obsolescence.
The ultimate goal of your inventory control should be to maximize your organization’s use of inventory. When you maintain proper inventory levels, you can rest easily knowing that your capital is not unnecessarily tied up in your inventory. If you are in manufacturing, inventory control also protects production if there are problems with bottlenecking or the supply chain.
Typical benefits of a computerized inventory control system include…
Having enough stock on hand so that you don’t run out
Barcodes and inventory control labels to track inventory efficiently
Reduction or elimination of inventory write-offs
The ability to conduct audits more quickly and efficiently
Inventory management is how you track and control your business’ inventory as it is bought, manufactured, stored, and used. It governs the entire flow of goods — from purchasing right through to sale — ensuring that you always have the right quantities of the right item in the right location at the right time.
Inventory Control Fundamentals
Learn all about inventory forecast models, stock control and planning with this course!
Created by Mike L - A Power Utility Professional Instructor
Students: 7932, Price: $89.99
Students: 7932, Price: Paid
Inventory Control Fundamentals is a comprehensive video course where you can learn industry specific knowledge about inventory control.
I have handcrafted this course to allow students to acquire core fundamental knowledge on how to master the art of inventory control.
If you are a Professionals who are interested to work as an inventory manager or just got a job in the supply chain and look for ways to get foundation knowledge, you will find this course of great help to get the fundamental knowledge you need to kick start your professional career.
This course can benefit anyone who wanted to work in any industry that needs to do inventory management. This course can help you to get an advantage at work or getting a job as it gives you core knowledge in inventory control that you would not have otherwise obtain unless you have worked in the industry. And knowledge is power.
So let's get started! Let's start your fulfilling journey and mark an important point of your phenomenal career in this industry!
Supply Chain: Inventory Control & Safety Stock Calculation
Reduce Operational Cost by Optimizing in Inventory Levels
Created by Yasin Bin Abdul Quader - Operation & Planning Consultant
Students: 6809, Price: $79.99
Students: 6809, Price: Paid
The course is a vital topic in supply chain planning field for all type of planners. Safety stock & inventory control have huge impact on cash flow & profits of any manufacturing or trading companies..
You will be learning, firstly, how to calculate safety stock and there will be different types of equations in order to suit all industries.
Also we will focus on how to optimize inventories levels with ten different methodologies.
All planners shall be able to implement easily the materials of this course and drive saving from 1,000$ to 100,000$ per month.
Ultimately, market share of your firm will grow with more revenues & profits.
Inventory Management: Safety Stock Calculation and Control
Optimize your Supply Chain Safety Stock. Simple to Advanced Methods. Reduce Costs and Risk in your Business Operations
Created by Laurence Gartside MEng Cantab - Management Consultant and Coach
Students: 323, Price: $19.99
Students: 323, Price: Paid
This MBA style course prepares and empowers you to calculate and control your Safety Stock. A crucial area of Inventory Management.
The eternal question: How to balance the risk of stock-outs with the quantity of safety stock inventory held?...
We cover 3 methods to calculate your Safety Stock - from super simple to advanced statistics:
Method 1: Number of Days of Safety - A fast and very basic method to get a quick decision
Method 2: HiHi-AvAv (my own name for a very established method ;) Finding the difference between our high "Lead Time Demand" and the average to determine the level of cover we want from periods of high demand during a slow replenishment lead time.
Method 3 : Statistical Method - The most rigorous method. We model our "Lead Time Demand" as a "Normal Distribution", determine our desired "Service Level" (acceptable risk of a stockout) and use a little help from some excel formulas to calculate our required Safety Stock and Re-Order Point quantity.
1. Inventory Control Introduction
2. Safety Stock Background
3. Inventory Dynamics
4. Simple Safety Stock Calculations
5. Calculating Safety Stock using Statistics
6. Getting Your Data
7. Assumptions and Limitations of the Statistical Method
8. Fixed Lead Time, Variable Demand: Method 3 Continued
9. Variable Lead Time and Demand: Method 3 Continued
10. Choosing your Service Level - Your Tolerance for Risk
11. Probability of a Stockout Over Time - Calculating Risk
12. Optimizing Safety Stock Levels
14. Bonus and Appendix
This course is for dedicated operations manager, the ambitious procurement professionals, the striving logistics supervisors, hands-on production planners and the practical business optimization analysts.
Remove the guesswork and add structure to your crucial safety stock decisions.
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.
Quantify your risk, calculate your inventory requirements and articulate your method - removing the guesswork and fearful overstocking
Downloadable Summary PDF Documents - throughout the course
Almost all businesses have inventory: retail stores, factories, hospitals, hotels, car repair, warehousing, logistics and more - this means we all have to decide how much to hold and when to place an order from the suppliers for more. Place the order too late and, with a little extra demand than usual, you might stockout! Carry too much inventory and you pay for it in holding and financing costs every day, quietly sucking the profit from your business and crippling your cashflow and investment opportunities.
Having enough 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 safety stock and methods of calculation; no operations manager, can competently or confidently manage their risk without excessive costs.
Be the one bringing clarity and structure to this most crucial decision!
Specific Topics Covered in the Course:
Why we need Safety Stock
Consequences of Stockouts
Costs of Inventory
Quick Calculations of Safety Stock
Rigorous Statistical Method to calculate Safety Stock
How to Model your "Lead Time Demand"
How to Determine your own desired "Service Level"
What the Probability of having a Stockout in a given period of time
How we can Reduce our Need for Safety Stock
Alternatives to holding Safety Stock
Take control! Boost your career and your business! Start learning today!
FULL COURSE CONTENTS:
Inventory Control Introduction
1. Benefits of Good Safety Stock Inventory Management
2. Bond’s Lobster Story
3. What is Safety Stock – Why do we Need Buffer Stock?
4. Much Obliged!
Safety Stock Background
5. Supply Chain Trade Offs – Risk and Consequences of Stock-outs
6. Supply Chain Trade Offs – Costs of Inventory
7. Basic Inventory Dynamics - Introduction
8. Basic Inventory Dynamics - Sawtooth
9. Re-Order Point and Alternatives
10. Purchasing Order Quantity Choices
11. How much Safety Stock? - Procurement's Problem Question
Simple Safety Stock Calculations
12. Safety Stock Calculations - Introduction
13. Method 1: Simple Inventory Control Formula: # Days of Safety
14. Method 1: Practice Question : # Days of Safety
15. Method 2: HiHi-AvAv - Protecting Against the Worst Case
16. Method 2: HiHi-AvAv - Explanation
17. Method 2: HiHi-AvAv - Practice 1 & Answer
18. Method 2: HiHi-AvAv - Practice 2
19. Method 2: HiHi-AvAv - Practice 2 – 2nd round
20. Method 2: HiHi-AvAv - Summary
Calculating Safety Stock: Method 3: Statistical Method
21. Service Level and Statistical Distributions
22. Introduction to the Statistical Method
23. Service Levels and Statistical Variation
24. Normal Distribution Modelling
25. Service Level Definition
26. Statistical Method - High Level Overview
27. Jumping Ahead – A quick look
28. Need to Refresh your Probability Knowledge?
29. Normal Distribution Introduction
30. Normal Distributions and Standard Deviations
31. Lead Time Demand as a Normal Distribution
32. Representing Service Level on the Bell Curve
33. Steps Overview
34. How Many Standard Deviations of Safety Stock
35. Intermediate Practice Question
36. Safety Stock in Retail - Example 2
37. Alternative Formula =norm.inv()
38. Working Backwards to find your Service Level
Getting Your Data
39. Getting your Data - Introduction
40. Finding the “Mean” and “Standard Deviation” from your Data
Assumptions and Limitations of the Statistical Method
41. Assumptions and Limitations of Method 3
Fixed Lead Time, Variable Demand: Method 3 Continued
42. Different Input Data- Introduction
43. Calculating Safety Stock: Fixed Lead Time, Variable Demand
44. Calculating Safety Stock: Fixed Lead Time, Variable Demand - Example
Variable Lead Time and Demand: Method 3 Continued
45. Variable Lead Time and Demand – Method and Example
46. Variable Lead Time and Demand – Question and Answer
47. Rounding Up or Down?… - Costs $60k!
48. Which Formula to Use? Summary
Choosing your Service Level - Your Tolerance for Risk
49. Choosing your Service Level - Introduction
50. Service Level Definition: Recap
51. What Factors should Influence how “Safe” we want to be??
52. Marginal Analysis - Choosing your Service Level
53. Marginal Analysis - Example
Probability of a Stockout Over Time - Calculating Risk
54. What’s the Probability of a Stockout? - Introduction
55. What’s the Probability of a Stockout? – Excel Tool
Optimizing Safety Stock Levels
56. When to Review and Optimize your Safety Stock
57. Reducing the Need for Purchasing Safety Stock
58. Demand Management to Reduce Safety Stock
59. Lead Time Management to Reduce Safety Stock
60. Alternatives to Safety Stock - Other Actions
61. Wrap Up
Bonus and Appendix
63. What’s Next– Further Reading
64. My Other Courses
65. How to Get Your Certificate
66. Hide Your Nuts!
My goodness did you read allllll that?! Time to get to the videos! :)
See you on the inside!