The ability to implement controls over the components and materials used in production, testing, and distribution of finished product is essential for the efficient and cost-effective operation of any business. This course provides the tools and strategies used to manage and maintain inventory while avoiding unnecessary surplus. Topics covered in this course include inventory management techniques, the inventory cycle and cycle counts, and models for calculating safety stock, reorder points, and order quantities.
Participants in this course will understand strategies for creating and maintaining an efficient inventory management system, to include:
• Inventory management approaches and objectives
• Inventory models and their applications
• Methods for calculating inventory levels and re-order points
• Inventory maintenance and associated costs
• Cycle counting methods
This course is available online, and can be taken anytime, anywhere.