Inventory Management Fundamentals

Inventory Management Fundamentals provides a comprehensive exploration of inventory control principles and practices essential for effective supply chain management. Participants will engage in project-based learning that emphasizes real-world applications, enabling them to develop strategies for optimizing inventory levels, reducing costs, and enhancing customer satisfaction. The interactive format encourages collaboration and the sharing of insights, culminating in the opportunity to publish findings in Cademix Magazine.
The course covers a range of critical topics that equip learners with the necessary skills to navigate the complexities of inventory management. Participants will analyze case studies, engage in simulations, and complete a final project that requires the application of learned concepts to a practical scenario. This structured approach ensures that graduates leave with actionable knowledge and the ability to make informed decisions in their professional roles.
Understanding inventory types and their impact on operations
Inventory valuation methods: FIFO, LIFO, and weighted average
Demand forecasting techniques and their significance
Inventory turnover ratio: calculation and implications
Safety stock calculations and reorder point determination
Warehouse layout optimization for efficient inventory flow
Technology in inventory management: software and automation tools
Supplier relationship management and its influence on inventory
Strategies for managing excess and obsolete inventory
Final project: Develop an inventory management plan for a selected business

Equip participants with the skills to effectively manage inventory and optimize supply chain operations.

Graduates, job seekers, business professionals, and optionally researchers or consultants.

Basic understanding of supply chain concepts and Microsoft Excel proficiency.