Applied Operations Management - Inventory Models

Offered byAlison

Applied Operations Management - Inventory Models
at
Alison
Overview

A comprehensive exploration of inventory management principles and practices within the context of applied operations management

Duration	4 hours
Mode of learning	Online
Difficulty level	Intermediate
Official Website	Go to Website
Credential	Certificate

Applied Operations Management - Inventory Models
at
Alison
Highlights

Earn a certificate after completion of course

Applied Operations Management - Inventory Models
at
Alison
Course details

Skills you will learn

Operations Inventory management Supply chain management Operations management

Who should do this course?

Undergraduate and graduate students studying operations management, supply chain management, logistics, or business administration

Individuals working in roles related to inventory management, supply chain coordination, logistics, and operations

What are the course deliverables?

Describe the basics of inventory management

Describe different types of inventory models

Evaluate inventory levels using inventory models

Explain inventory models such as the Economic Order Quantity model

Explain reason for computing total inventory costs

Discuss methods for storing materials for future use

More about this course

This free online Applied Operations Management course from Alison will give you a better insight into inventory models

You will learn how these models help determine order quantities that minimize total inventory holding costs and ordering costs

This course will also discuss how they help determine the frequency of ordering to keep goods flowing to the customer without interruption

Applied Operations Management - Inventory Models
at
Alison
Curriculum

Module 1

Introduction to Inventory Models

The module begins by introducing the basics of inventory management and introduces concepts such as deterministic demand and probabilistic demand, type of costs such as cost of item, order cost, and holding or carrying cost

Module 2

Understanding Eoq Model

Several models are available to help determine how much inventory should be brought in to restock the products or parts, and you will be introduced to inventory models such as the single period inventory model, the multi-period inventory model and the economic order quantity (EOQ) model

These models are explained in detail using worked examples

Module 3