Inventory Optimization Techniques provides a comprehensive exploration of methodologies and practices essential for enhancing inventory management within retail and logistics sectors. Participants will engage in project-based learning that emphasizes real-world applications, enabling them to analyze inventory data, forecast demand accurately, and implement strategies that minimize costs while maximizing service levels. The course encourages collaboration and the sharing of insights, culminating in the opportunity to publish findings in Cademix Magazine, thereby fostering a community of practice among professionals.
The curriculum is structured to equip learners with both theoretical knowledge and practical skills. Participants will delve into advanced analytics, exploring tools and techniques that drive data-driven decision-making. The final project will require learners to develop an inventory optimization plan tailored to a specific business scenario, integrating the concepts learned throughout the course. This hands-on approach ensures that graduates can immediately apply their knowledge in their professional roles.
Fundamentals of Inventory Management
Key Performance Indicators (KPIs) for Inventory Optimization
Demand Forecasting Techniques
Inventory Classification Methods (ABC, XYZ Analysis)
Safety Stock Calculations and Reorder Point Strategies
Just-in-Time (JIT) Inventory Practices
Use of Technology in Inventory Management (ERP Systems)
Data Analytics for Inventory Insights
Case Studies on Successful Inventory Optimization
Final Project: Developing a Comprehensive Inventory Optimization Plan