Effective Inventory Management and Optimization
- Offered byCoursera
Effective Inventory Management and Optimization at Coursera Overview
Duration | 5 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Official Website | Explore Free Course  |
Credential | Certificate |
Effective Inventory Management and Optimization at Coursera Highlights
- Earn a certificate from Starweaver
- Add to your LinkedIn profile
- 5 quizzes, 1 assignment
Effective Inventory Management and Optimization at Coursera Course details
- What you'll learn
- Assess the significance of effective inventory management and its impact on organizational performance.
- Get familiar with the fundamental parameters of inventory management and optimization.
- Apply various inventory forecasting and demand planning techniques used in inventory management.
- Develop effective inventory optimization strategies to improve inventory turnover, reduce excess stock, and enhance customer satisfaction.
- In today's competitive business landscape, efficient inventory management is a critical factor for the success of any organization. Businesses face challenges in maintaining the right balance between having enough inventory to meet customer demands and avoiding excess stock that ties up capital and increases storage costs
- This course, titled "Effective Inventory Management and Optimization," addresses a need for professionals to understand the intricacies of inventory control and optimization
- Inventory management directly impacts an organization's bottom line, affecting factors such as operational costs, customer satisfaction, and overall profitability
- This course provides comprehensive insights into inventory management techniques and best practices to optimize inventory levels, reduce costs, and improve inventory management efficiency
- Participants will gain valuable knowledge and practical skills to enhance inventory control processes
- A basic understanding of supply chain, logistics, or business operations is recommended. Familiarity with inventory concepts is advantageous
- This course is designed for professionals involved in inventory management, logistics, supply chain, or procurement functions
- It is also beneficial for business owners and managers seeking to improve their organization's inventory management practices
Effective Inventory Management and Optimization at Coursera Curriculum
Effective Inventory Management and Optimization
Introduction to the course and the instructor
Understanding the importance of inventory management
Key objectives and benefits of efficient inventory control
Common inventory management challenges and pitfalls
Overview of inventory systems and technology
Supply and demand
Replenishment order and lot size
Lead time, demand during lead time, and replenishment period
Inventory position, reorder point, and order-up-to level
Methods for forecasting demand and sales – Part 1
Methods for forecasting demand and sales – Part 2
Data analysis and historical sales patterns
Forecasting requirements through material requirements planning (MRP)
Inventory related costs
Classification of inventory items: ABC analysis, XYZ analysis and other methods
Just-in-Time (JIT) inventory management
Inventory optimization Part 1: Cost minimization, economic order quantity (EOQ) model and its extensions
Inventory optimization Part 2: Determining safety stocks and reorder points
Key performance indicators (KPIs) for inventory management
Replenishment tracking and expediting
Using technology for inventory modeling and optimization
Lessons for inventory management professionals from lean manufacturing principles.
Welcome to the course
Additional resources
Additional resources
Additional resources
Additional resources
Additional resources
Introduction to inventory management
Fundamental parameters of inventory management
Inventory forecasting, demand and requirement planning
Inventory optimization, control strategies and techniques
Inventory tracking and performance metrics
Final assessment
Effective Inventory Management and Optimization at Coursera Admission Process
Important Dates
Other courses offered by Coursera
Student Forum
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