Overview
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Learn how to effectively manage inventory within your company. Explore analytical tools and control systems that can help you improve your inventory management efforts.
Syllabus
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Introduction
- What is inventory management?
- Inventory management defined
- Types of inventories
- View inventory as money
- Costs of inventory
- The right amount of inventory
- Reasons to hold inventory
- Understand production inventory
- Understand finished goods inventory
- Manage service inventory
- Sales and operations plan
- Forecasting
- Enterprise resource planning (ERP)
- Materials requirements plan
- Radio frequency identification (RFID)
- ABC analysis
- Total cost analysis
- Economic order quantity
- Cycle counting
- Three inventory models
- Vendor-managed inventory
- Collaborative inventory management
- Next steps
