Executive Program in Inventory Management

Description

Unlock Your Supply Chain Potential with "Executive Program in Inventory Management" Course!

• Are your supply chain woes keeping you up at night? Unleash the power of strategic inventory management and revolutionize your business operations today!

| Master the Art of Inventory Optimization | Boost Efficiency & Reduce Costs | Seamlessly Integrate Supply Chain Tactics |  Elevate Your Career with In-Demand Skills

• Join our exclusive Udemy course and gain the expertise to streamline your inventory processes, enhance customer satisfaction, and supercharge your business growth.

  
  

  
  

• What You'll Learn:

- Inventory Planning

- Inventory Costs and Impact

- Selective Inventory control Techniques

- Inventory Replenishment methods

- Inventory KPI’s

- Entire Inventory analysis in Excel with readymade templates

• Enroll Now and Enjoy:

- On-Demand Video Lessons - Learn at Your Pace

- Interactive Quizzes - Reinforce Your Knowledge

- Lifetime Access - Stay Updated Always

- Expert Q&A - Get Your Questions Answered

- Certificate of Completion - Showcase Your Skills

Invest in your future. Transform your supply chain. Enroll in "Strategic Inventory Management" now!

Background of the course

This course will help you drastically improve your knowledge and skills in Inventory Management practices through a series of must know concepts, practical cases, case studies, calculations, examples and Ready Excel Templates for numerous inventory analysis in few minutes. This course is designed by Academic & Industry experts in the field for everyone who is in Supply Chain / Inventory / Demand planning role or wanted to make their career in the field. This course is designed for Supply Chain Managers, Inventory Managers, Supply Chain Analysts, Buyers, Demand Planners, Inventory planners, Transportation, warehousing & Logistics planners & even supply chain leaders.

What this course covers?

This course covers extensive content in a simple explanations and covers all must know topics within inventory management practices in five key modules as below.

Module 1 - Introduction to Inventory Management

· Introduction

o What is inventory

o Types and of inventory

· Activities involved in Inventory Management function

· Understanding Inventory Costs: A Comprehensive Overview

o Ordering Cost

o Carrying or holding cost

o Shortage or stock out cost

o Spoilage cost

o Other costs

o Tabular examples of the costs

· Need for effective inventory management today - From Burden to Opportunity

o Contribution of Inventory in working capital

o Research studies about inventory contribution in company’s working capital.

o Inventory contribution in retail, manufacturing and service companies.

o Role of inventory holding cost

o Research studies on contribution of holding cost in inventory costs.

· Benefits of well managed inventory - From Chaos to Control

o Cost optimization & Cash flow management

o Customer Satisfaction

o Improved supply chain efficiency.

o Profit maximization

Module 2 - Selective Inventory control methods & Analysis in Excel

· Overview of Selective inventory control

· Why Selective inventory control?

· What are benefits of selective inventory control?

· Overview of ABC Analysis - Meaning, Logics & Uses.

· Overview of XYZ Analysis - Meaning, Logics & Uses.

· Overview of HML Analysis - Meaning, Logics & Uses.

· Overview of FSN Analysis - Meaning, Logics & Uses.

· Overview of VED Analysis - Meaning, Logics & Uses.

· Overview of SDE Analysis - Meaning, Logics & Uses.

· Overview of S-OS Analysis - Meaning, Logics & Uses.

· Overview of GOLF Analysis - Meaning, Logics & Uses.

· Overview of PQR Analysis - Meaning, Logics & Uses.

· Excel Calculation & Automated calculation sheet for ABC, XYZ, HML, FSN, PQR, ABC-XYZ analysis.

Module 3- Inventory Replenishment planning methods

· Four Inventory replenishment Methods

· What is Safety Stock, Why it is needed?

· Calculation of Safety Stock in Excel & Ready excel sheet for quick calculation

· Calculation of Reorder Point (ROP) in Excel & Ready excel sheet for quick calculation

· Calculation of Economic Order Quantity (EOQ) in Excel & Ready excel sheet for quick calculation

· Calculation of Min Max levels in Excel & Ready excel sheet for quick calculation

· Planning strategies in Business environments – All about MTO, MTS ATO & ETO.

· Vendor Managed Inventory

o What is VMI

o How it is different from traditional inventory replenishment

o Process flow in VMI & traditional inventory replenishment

o Benefits of VMI

o Top Companies who uses VMI in their businesses

· VMI Case study of big retail giant Wal-Mart (Unlocking Efficiency & Profits)

Module 4 - Inventory Performance Management through Metrics

· Overview of Average inventory – Meaning, Calculation & Example

· Overview of Cost of Goods Sold (COGS) – Meaning, Calculation & Example

o Exclusion & Inclusions in COGS costs.

· Overview of Inventory turnover ratio (ITR)– Meaning, Calculation & Example

· Overview of Days on Hand (DOH)– Meaning, Calculation & Example

· Overview of Inventory Accuracy – Meaning, Calculation & Example

· Overview of Gross Margin return on inventory investment (GMROII)– Meaning, Calculation & Example.

· Overview of Days of Sales (DOS)– Meaning, Calculation & Example.

· Overview of Excess & Obsolete Inventory (E&O) - Meaning, Calculation & Example.

· Overview of on time delivery (OTD) - Meaning, Calculation & Example.

· Overview of on time in full (OTIF) - Meaning, Calculation & Example.

· Excel calculation & ready template for calculation of average inventory, ITR, DOH, DOS, GMROII

· Excel calculation & ready template for E&O Inventory

· Excel calculation & ready template for OTD & OTIF

Module 5 - Bonus Module: Supply Chain Planning processes that deals with Inventory Control

· Master Production Schedule (MPS)

o What is MPS , Its interlink with Demand Plan

o Example how to run MPS

o Inputs & Outputs of MPS

o Bill of Material & Example.

· Materials Requirement Planning (MRP)

o What is MRP , Its interlink with MPS

o Objectives of MRP

o Inputs & Outputs of MRP

o Example & Calculation of MRP with examples

· MPS Vs MRP

o Dependent demand Vs Independent demand

o Difference between MPS & MRP.

What You Will Learn!

• Deep understanding of the Inventory management function.
• Activities involved in Inventory Management function
• Understanding Inventory Costs: A Comprehensive Overview
• Need of best inventory management today - From Burden to Opportunity : Unleashing the Hidden Value of Inventory Management
• Benefits of well managed inventory - From Chaos to Control Unleashing the Potential of well managed inventory
• What is meaning of Selective Inventory Control Methods
• 9 Selective Inventory Control Methods - Categorization logic & uses (ABC, XYZ, FSN, HML, SDE, VED, S-OS, GOLF, PQR)
• Overview & Excel Calculation for ABC, XYZ, HML, FSN, S-OS, VED, SDE, PQR, GOLF Analysis.
• Categorizing Selective Inventory Control Methods in Microsoft Excel - Ready sheets for analysis in minutes.
• Inventory Replenishment planning methods
• Four Inventory replenishment Methods
• What is Safety Stock, Why it is needed?
• Calculation of Safety Stock in Excel & Ready excel sheet for quick calculation
• Calculation of Reorder Point (ROP) in Excel & Ready excel sheet for quick calculation
• Calculation of Economic Order Quantity (EOQ) in Excel & Ready excel sheet for quick calculation
• Calculation of Min Max levels in Excel & Ready excel sheet for quick calculation
• Planning strategies in Business environments – All about MTO, MTS ATO & ETO.
• Vendor Managed Inventory, VMI Vs traditional methods, Process Flow, Benefits of VMI, Top Companies using VMI
• VMI Case study of big retail giant Wal-Mart (Unlocking Efficiency & Profits)
• Inventory Performance Management through Metrics
• Overview of Average inventory – Meaning, Calculation & Example
• Overview of Cost of Goods Sold (COGS) – Meaning, Calculation & Example, Exclusion & Inclusions in COGS costs.
• Overview of Inventory turnover ratio (ITR)– Meaning, Calculation & Example
• Overview of Days on Hand (DOH)– Meaning, Calculation & Example
• Overview of Inventory Accuracy – Meaning, Calculation & Example
• Overview of Gross Margin return on inventory investment (GMROII)– Meaning, Calculation & Example.
• Overview of Days of Sales (DOS)– Meaning, Calculation & Example.
• Overview of Excess & Obsolete Inventory (E&O) - Meaning, Calculation & Example.
• Overview of on time delivery (OTD) - Meaning, Calculation & Example.
• Overview of on time in full (OTIF) - Meaning, Calculation & Example.
• Excel calculation & ready template for calculation of average inventory, ITR, DOH, DOS, GMROII, E&O, OTD & OTIF
• Bonus Module: Supply Chain Planning processes that deals with Inventory Control
• Master Production Schedule (MPS), Interlink with demand plan , Inputs & Outputs to MPS, BOM
• Materials Requirement Planning (MRP), Interlink with MPS, Inputs & Outputs of MRP, Example & Calculation of MRP with examples
• MPS Vs MRP

Who Should Attend!

• Professionals - Like Buyers, Demand Planners, Logistics Planners, Inventory Planners, Supply Chain Managers, Supply Chain Analysts.
• Professionals looking to make their career or switch their careen in Supply Chain field.

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