Inventory Management


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number



Overview/Description
In today's economy, companies must be able to move large quantities of product quickly to locations across the globe. Overnight delivery methods have drastically altered customers' expectations regarding delivery times. Lead times of four to six weeks are no longer acceptable. In light of these changes, effective Inventory Management is no longer static- the emphasis is on movement, and quick response to changing market demands.

Target Audience
Manager, Directors, Team Leads, or other individuals seeking to gain an understanding of inventory management trends.

Expected Duration (hours)
3.0

Lesson Objectives

Overview of Inventory Management

  • recognize the strategic value of learning about systematic inventory management.
  • identify primary objectives of inventory management.
  • identify inventory functions.
  • identify inventory types.
  • Inventory Management Systems

  • recognize the value of learning about systems that support effective and efficient inventory management.
  • recognize inventory systems and their definitions.
  • select applicable processes used to establish inventory levels in order to foster key relationships for success.
  • define ABC analysis.
  • identify various computer inventory management systems.
  • Inventory Financial Management

  • identify the positive impact of developing a sound knowledge of inventory financial management.
  • identify the correct definitions and corresponding data on standard financial forms.
  • identify basic inventory calculations and their usage.
  • match key financial ratios and standard formulas used in inventory management.
  • select effective cost analysis strategies.
  • Warehousing Management

  • recognize the value of utilizing sound warehousing strategy within an organization for effective cost management.
  • identify the goals of implementing an effective warehousing strategy.
  • differentiate between types of warehousing and their applications.
  • identify warehousing activities.
  • choose an effective strategy based on a selection of critical factors.
  • Course Number:
    OPER0322