The Art Of Managing Inventories In Supply Chains

The A-to-Z of Inventory Management and the Complete Guide to Smarter Inventory Analysis and Controls in Supply Chain.

What you'll learn

Understand the Core Principles of Inventory Management

Master Key Inventory Control Techniques

Apply Demand Forecasting and Inventory Optimization Strategies

Develop Effective Inventory Policies and Performance Metrics

Optimize Stock Levels for Cost Reduction

Implement Best Practices for Inventory Management

Build a Collaborative Supply Chain Approach

Requirements

Basic Understanding of Business and Supply Chain Concepts

Interest in Operations, Logistics, or Supply Chain Management

Description

Mastering inventory management is essential for businesses to minimize costs, ensure availability, and drive operational efficiency. The Art of Managing Inventories is a comprehensive course designed to help you understand and implement effective inventory management strategies, whether you’re new to the field or looking to advance your skills.In this course, you’ll dive into the fundamentals of inventory control, from understanding stock types and determining optimal levels to mastering advanced techniques like demand forecasting, safety stock calculation, and inventory optimization. With practical insights and real-world examples, you’ll learn how to balance supply with demand, reduce stockouts and overstock situations, and create a more resilient inventory system.Throughout the course, you’ll explore essential inventory management tools and concepts, including Economic Order Quantity (EOQ), ABC analysis, Just-in-Time (JIT) systems, and cycle counting. By the end, you’ll have the knowledge and skills to implement strategies that align inventory performance with business goals, driving cost efficiency and customer satisfaction. What You’ll Learn:Key principles and best practices of inventory managementTechniques to forecast demand and manage stock levels effectivelyMethods for reducing costs through inventory optimizationTools to create effective inventory policies and performance metricsPractical steps to tackle challenges like stockouts, overstocking, and lead time variability

Overview

Section 1: Trainer & Course Introduction

Lecture 1 Introduction to Course

Lecture 2 Trainer Profile

Lecture 3 Course Contents

Section 2: Inventory Defined

Lecture 4 Why Supply Chain is having CHAIN ?

Lecture 5 Need for Inventories !

Lecture 6 Inventory More or Less ?

Lecture 7 Basic Definitions - Stock, Item & Units

Lecture 8 Inventory defined with examples

Lecture 9 What is Inventory Management ?

Lecture 10 Why do firms carry inventories ?

Lecture 11 "Inventory is a necessary Evil". Why ?

Lecture 12 Inventory Management KPIs

Lecture 13 Push Vs. Pull & Hybrid Model - With Examples

Section 3: Inventory Types & Costs

Lecture 14 Types & Classification

Lecture 15 Types - Based on Nature of Use

Lecture 16 Types - Based on Finished Goods

Lecture 17 Inventory Cost & Concept of TCO

Section 4: Inventory Forecasting

Lecture 18 What is Inventory Forecasting ?

Lecture 19 Benefits of Forecasting

Lecture 20 Basic Forecasting Approaches

Section 5: Inventory Procurement

Lecture 21 What is Procurement ?

Lecture 22 Procurement = Sourcing + Purchasing

Lecture 23 Goals of Procurement

Lecture 24 7 R's of Procurement

Lecture 25 Why Procurement is Important ?

Lecture 26 Procure to Pay (P2P) Cycle

Lecture 27 Source to Pay & Procure to Pay

Lecture 28 Kraljic Matrix in Procurement

Lecture 29 Value Analysis Vs. Value Engineering

Lecture 30 Cost Based Pricing Models

Section 6: Inventory Storage

Lecture 31 What is Warehousing ?

Lecture 32 Warehousing & Inventory Management

Lecture 33 Warehousing - Space & Time Management

Lecture 34 Warehousing Layouts

Lecture 35 Need for Warehousing !

Lecture 36 Issues Effecting Warehousing

Lecture 37 Methods of Evaluation in Warehouse Locations

Lecture 38 Economical Benefits of Warehousing

Lecture 39 Warehousing KPIs

Lecture 40 Warehouse Item Coding Structure

Lecture 41 Warehouse Management System (WMS)

Section 7: Inventory Analysis

Lecture 42 Mechanics of Inventory Control

Lecture 43 Inventory Control & Analysis - Stock Levels

Lecture 44 When to Order ?

Lecture 45 How much to Order ? EOQ with example

Lecture 46 Selective Inventory Controls

Lecture 47 Inventory KPIs

Section 8: Inventory Accounting

Lecture 48 How to Account Inventory ?

Lecture 49 Key Formulas

Lecture 50 Inventory Valuation Methods

Section 9: Inventory Tracking

Lecture 51 What is Barcode & QR Codes ?

Lecture 52 Benefits of Barcoding

Lecture 53 Radio Frequency Identification (RFID)

Lecture 54 Word of Thanks

Supply Chain personnel,Inventory & Procurement personnel