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[Free] Inventory Management - Tools &Amp; Techniques

Optimizing Resources for Efficient Operations” – Free Course

Added on February 29, 2024 Teaching & Academics 2 min read

What you’ll learn

• Students will gain a strong foundation in the core concepts relevant to the subject matter of the course.
• Requirement analysis, tool selection, implementation, training, testing, and deployment of inventory management tools & techniques.
• Get better at learning the subject
• Get trained on expert level question on data science

Requirements

• No prior requirements

Description

Description: This comprehensive course delves into the fundamental principles, tools, and techniques essential for effective inventory management. Participants will explore the intricacies of inventory control, optimization strategies, and best practices to enhance operational efficiency and profitability. Through a blend of theoretical insights and practical case studies, learners will grasp the importance of accurate demand forecasting, inventory valuation methods, and inventory classification systems.

Key topics covered include inventory replenishment models such as EOQ (Economic Order Quantity) and JIT (Just-in-Time), inventory carrying costs analysis, ABC analysis, and inventory turnover ratio calculation. Participants will also learn about inventory software systems and technology-driven solutions for inventory management, including RFID, barcode scanning, and inventory tracking software.

By the end of this course, participants will have acquired the skills and knowledge needed to streamline inventory processes, minimize stockouts, reduce excess inventory, and ultimately optimize inventory levels to meet customer demand while minimizing costs. This course is ideal for supply chain professionals, inventory managers, operations managers, and anyone involved in logistics and inventory control.