The top 16 Inventory Management courses you need to take

1. Inventory Management

Inventory is a strategic asset for organizations. The effective management of inventory can minimize a company’s spending while dramatically increasing its profit. In this course, we will explore how to use data science to manage inventory in uncertain environments, how to set inventory levels based on customer service requirements, and how to calculate inventory for products that have short sales cycles...

2. Operations Management: Inventory Management

4

(301)

The  course on Inventory Management is part of the Operations Management Training Program which includes a number of eight sections also presented as individual courses for your convenience. All companies need to acquire and maintain inventory to produce their goods or to provide their services. These supplies enable the company to function. Inventory can be made up of raw materials, work in progress, and finished goods. Inventory levels have to be managed carefully. A company must always have the right levels of inventory at the right time. If a company has too much inventory, it ends up paying extra storage costs. But if the company has too little inventory, it may not be able to meet customer orders. Finding the balance between meeting customer demand and minimizing costs is crucial. Monitoring and managing inventory are major concerns for operations management. Inventory managers must know how much their supplies are worth. And they need to know how much it costs them to buy and store those supplies. Inventory managers also need to work out how much inventory to order to meet customer demand. And they have to know when it's time to order new supplies. Inventory management tools enable inventory managers to ensure they maintain optimal levels of inventory. Inventory management is a very complex skill. Different companies use different inventory management strategies. This course aims to introduce some basic inventory management strategies. Companies can then apply these basic skills to meet their own inventory requirements. That's it! Now go ahead and push that "Take this course" button, and see you on the inside!...

3. Inventory Management in Manufacturing

4.6

(417)

In a Manufacturing Industry, you will be using multiple types of materials to make and sell your Products. Each type of material according to it's use, will have to be planned for fulfillment, storage, usage in Manufacturing and selling the main products. Various types of material such as Raw material, Finished material, sub-assembly or semi-finished material and MRO etc are to be handled in different ways in terms of planning, storing, valuations and managing their inventories. Hence planning of materials for making and selling product and planning of the product (finished items) themselves needed multiple levels of strategy to ensure you keep the customer satisfied and at the same time, keep your financial parameters in control. You hence needed to understand the functions of multiple types of inventories to determine the kind of controls you want to apply. Understanding on various types of materials helps in that aspect. In addition, the special classifications such as ABC Analysis can consolidate the kind of material that need maximum attention and those that can have relatively loose controls. In other words ABC classification helps you determine the level of Inventory Policies and controls to apply on specific group of ItemsThe planning of the materials was quite preliminary before 1960's. Those days, the planning was just reactive on the basis of inventory stock levels. the review of stocks was also done only on basis of stock level of each item without any consideration on dependencies among the items handled in your organization. For example, you plan laminations, Wood and bolts at individual levels without acknowledging that all of them together may be required to make a piece of furniture such as Table, Chair etc. The assumption made in these reactive inventory planning methods were not at all close to real business scenarios. Hence planning used to fail many times. Or to avoid the risks you might be purchasing huge quantities of materials. in both cases the results will lead to financial losses in terms of loss of customers or loss of investment due to huge inventory costs. The evolution planning to more and more matured levels was from the basic order point system to Time phased order point (which looked at timing of order in addition to tracking stock levels) and Material requirement planning - MRP (which in addition to TPOP way of working, added the Kit based planning. There are a few more enhancements to the planning that included Constraint based planning. You also have another concept of reaching NO INVENTORY state, in what is called Just in Time - JIT environment  by removing all inefficiencies causing the need to hold inventories. The course will cover the above aspects in a structured form. You start with Inventory definition and appreciate the need to perform inventory management. After that you will run through a few popular Inventory types and how they are handled in relation to manufacturing environment. You will than go through Inventory classification based on which the level of control to be applied on each class of the inventory is determined. The context of how planning is evolved over a period of time is briefed after covering the inventory aspects in above sets of lessonsA few quantity or stock based order review methods (such as Re-Order Point, Period Order Quantity , Two Bin System etc) are introduced. This set of lessons is followed by a few Demand based order review methods which included TPOP - Time phased Order point method and most comprehensive planning method - MRP as well. Popular Lot sizing techniques are explained with relevant illustrations for most of the methods. While explaining the Selection factors for each techniques, some influencing factors  are briefed. You may want to know how Safety Stock is planned and calculated to handle unforeseen demand. One section Safety stock calculations will provide insight on demand analysis, demand variations and safety stock calculations. Section on Inventory Valuation has lessons explaining the post popular accounting techniques for Inventory, such as LIFO, FIFO, Standard Costing, Average Costing and Process costing etc. You will go through example valuations for most of these methods. With understanding that all your planning and calculations need accuracy of inputs such as Inventory data, the section Inventory accuracy provides fair understanding on Inventory accuracy and important Inventory counting and correction methods such as Physical or Annual Inventory, Cycle Counting and combinations. For each method, sample counting techniques, report analysis are explained through an example scenario. Finally you need to know how is your Inventory Management Performance. Lessons in this section explain the performance metrics that directly or indirectly reflect the Inventory Management performance. The metrics such as Inventory turnover ratio provide indirect measure of sales and delivery performance, whereas other metrics such as Customer service directly reflect the performance of sales and Manufacturing. You will go through many examples and calculations in this section as well. The Course is associated with a Practice KIT of 75 Questions and answers along with explanation for each of the Questions in the Kit. These explanations themselves act as additional notes for the students benefit when they prepare for Certifications in space of  Production and Inventory Management and Supply Chain Practice etc. The curriculum in details is: Course content7 sections • 26 lectures • 2h 52m total lengthIntroduction: Context of Planning in Manufacturing & Supply Chain2 lectures • 11minInventory Definition and contextPreviewMajor drivers of Inventory ManagementTypes of Inventory7 lectures • 20minRaw MaterialsSemi-Finished MaterialWork in progress (WIP) MaterialsFinished MaterialsConsigned MaterialsMaintenance, Repair and Operational supply MaterialsSpecial types (Excess Inventory, Obsolete, Non-Confirmed Material )Inventory Classification2 lectures • 6minInventory Classifications on basis of Multiple factorsClassification Based on Value and Consumption rates (ABC, Fast-Slow Moving etc)Section 1 Recap and Summary1 lecture • 2minRecap and SummaryOrder Review and Planning Methods: Context5 lectures • 21minContext (Evolution of Planning Over a period)Illustration of a typical Order Fulfilment CycleDependencies and Uncertainties in planningKey terminology in Order fulfilmentSection Recap and SummaryStock based Material review methods6 lectures • 18minContext and AgendaOrder Point based Review methodPeriodic Review SystemHybrid Review System (Combination of Order Point and Periodic Review)Visual Review based Order methodsSection Recap and ConclusionsDemand and Stock based Review Systems (TPOP and MRP)5 lectures • 37minContextTime Phased Order Point (TPOP): Introduction and how it worksTPOP IllustrationsTPOP CharacteristicsMaterial requirement planning (MRP)Lot Sizing Techniques (5 lectures • 41minSection AgendaLot Sizing Techniques overviewDemand Rate Oriented Lot Sizing TechniquesDiscrete Lot Sizing Techniques Section RecapSafety Stock Techniques (13 lectures • 44 minSection AhendaSafety Stock Considerations (importance)Demand AnalysisDemand VariationsDemand Variations: Mean Absolute Deviation (MAD)Demand Variations: Standard Deviation (SD)Tracking SignalSafety Stock calculations -BriefSafety Stock Calculations-StatisticalSafety Stock Calculations - Time Period BasedSafety Stock Calculations - Safety Lead timeSafety Stock Calculations -Some Key NotesConclusionInventory Valuation Techniques (8 lectures • 51 min)Context Ways of establishing Inventory holdingInventory Valuation techniquesFIFOLIFOStandard CostingAverage CostingProcess CostingSection RecapInventory Accuracy (30 Lectures - 97 min)Inventory Accuracy - Introduction and Section ContentInventory Accuracy - Importance of Inventory AccuracyInventory Accuracy - PrerequisitesInventory Accuracy PI - Physical Inventory (Annual Inventory)Inventory Accuracy - Physical InventoryInventory Accuracy - Physical Inventory: ProcessInventory Accuracy -Physical Inventory: ExamplesInventory Accuracy - Physical Inventory: Pros and ConsInventory Accuracy CT- Cycle CountingCycle Counting - Snapshot of Cycle CountingCycle Counting - ABC Class based Counting ProcessCycle Counting - Pros and ConsCycle Counting - Other ApproachesCycle Counting - Samples and Examples Cycle Counting: Example of ABC AnalysisCycle Counting - Sample Cycle Count SheetCycle Counting: Sample Cycle Count report evaluationInventory Accuracy - Conclusion RecapReferencesInventory Performance Measurement (7 lectures • 27 min)Inventory Performance Measurement: Section ContentsImportance of Inventory Performance MeasurementInventory Turnover Rate (ITR)Customer Service LevelInventory AccuracyOther Inventory Performance MetricsConclusionThe course included a few quiz sections to help the students refresh their understanding. This course helps many students who are aspiring for certifications in the domains of Production & Inventory Management, Supply Chain Management or any other subject relevant to this topic. We want to make a clear disclaimer that we are not associated with organization that provide certifications in the relevant domains...

4. SAP MM Inventory Management

4.2

(208)

SAP MM Material Management - Welcome to this training course presentation of the SAP Materials Management - Inventory Management. The Materials Management functionality is the main component of any SAP implementation. The Materials Management can be described as the train that drives the supply-chain functionality within SAP. It also integrates with other SAP modules as well. Taking this MM course will help you with everything you need to start your career in working with SAP Inventory Management. Overview Of Inventory Management:-Inventory management is used to manage the inventory for the goods. It is based on several key processes. Definition of movement types, reservations, goods issue and goods receipt. We have already done basic goods receipt process in the purchase order topic, referencing it to a PO. There are a number of functions and transactions used in the Inventory management processes, and we will cover the most important in this tutorial. Overview of the course: -I will start talking about the Reservation. Then I will start talking about the Goods Issue and Goods Receipt which are at the core of the Procurement, Inventory Management. Next, I will show you the usage of different movement types. Parallely i will show you the related SAP tables and SAP Reports. What separates this course from other SAP courses is a focus on clarity and presentation. All lessons are easy to follow and feature a step by step guide to help beginners. This course consists of 30 videos and of around 1Hr content. All the SAP functional consultants should opt this course if they are looking for an expertise in Inventory Management scenarios...

5. QuickBooks Online Inventory Management

4.9

(54)

This QuickBooks instructional course will give you everything you need to know about using the inventory section in QuickBooks Online Plus Version, Accountant's edition or QBO Advanced. These are the only subscriptions that track inventory quantity. You will be a great expert in everything that relates to buying and selling or generally managing merchandise when using QuickBooks Online. These videos will give you the best possible explanation for every topic covered. You will learn about the list of products and services in QuickBooks online. This will enable you to add "non-inventory" parts to the items list and when to use non-inventory parts. It shows how to activate the QuickBooks inventory module for tracking quantities on hand for your merchandise. Every conceivable inventory transaction is covered in this course. This QuickBooks tutorial shows how to record sales both for credit with invoices and for cash as well as purchases of inventory for credit with vendor bills or for cash. It will show how to use the purchase order feature and purchase order reports to track the back orders in QuickBooks Online. Inventory returns are transactions that many people have trouble understanding. This course will make procedures for customer returns as well as returns to your vendors in a clear and simple way. You will see how to use inventory reports and how to find and fix inventory related mistakes. You will learn how to adjust inventory for uncommon situations. You will also learn my expert method, created by me, to handle PREPAID INVENTORY transactions. This QuickBooks Online training course also teaches some basic accounting inventory concepts; All accounting programs use the Perpetual inventory method of inventory costing. It will be clear in common sense terms without any accounting knowledge. You will also receive an overview of other accounting theory that relates to inventory. You will leanr things like how QuickBooks Online will calculate the changing purchase cost of merchandise using the "first in , first out" (F. I. F. O.) costing method. You will also learn, in the best possible way, the other method of inventory costing, the "periodic" inventory method. So, if you need to, use the periodic inventory method and help you make your cost of goods sold adjustment to find your gross profit. The course has been made with QuickBooks Online Plus Version. However, the ideas apply to QuickBooks online accountant and Advanced. I'm always available if you have any questions or concerns. I hope you learn well and enjoy the course!-Mark...

6. Learn QuickBooks Inventory Management

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(120)

This QuickBooks training course will give you everything you need to know about using the inventory module in QuickBooks Accounting desktop versions for windows. You will be an absolute expert in everything that relates to buying and selling merchandise when using QuickBooks. These videos will give you the clearest possible explanation for every topic covered. You will learn in QuickBooks, how to add "non-inventory" parts to the items list and when to use non-inventory parts. It teaches how to activate the QuickBooks inventory module and what inventory activation does to the QuickBooks file. Every possible inventory transaction is covered in this course. This QuickBooks tutorial shows how to record sales both on account and for cash as well as purchases of inventory on account or for cash. It shows how to use the purchase order documents as well as purchase order reports to track back orders in QuickBooks. Sales orders and related reports are also discussed and demonstrated. Merchandise returns are transactions that many people have trouble understanding. This course will make procedures for customer returns as well as returns to vendors perfectly clear and simple. You will receive a special demonstration on how to use the 'units of measure" feature as well as the "price levels" feature so you can maximize the use of your inventory module and manage everything exactly how you choose to buy and sell your merchandise. You will learn how to use inventory reports and how to find and fix inventory mistakes. At the end of the course, you will learn how to adjust inventory for unusual situations. You will also be shown a SPECIAL METHOD created by me to handle PREPAID INVENTORY transactions. The class gives real hands on practice with buying and selling transactions in QuickBooks. This QuickBooks instructional series even teaches some basic accounting inventory concepts; specifically, the Perpetual inventory method of inventory valuation in QuickBooks. It will be understandable in common sense terms without accounting knowledge. You will also get an overview of other accounting theory that relates to inventory such as how QuickBooks Desktop will calculate changing purchase cost of merchandise using the "weighted average" costing method. You will also get the best explanation and demonstration of the other method of inventory coting, the "periodic" inventory method. These demonstrations will give you the ability to use the periodic inventory method and help you make your cost of goods sold adjustment to find your gross profit. There are 'follow along files" for each lecture so you can follow step by step. This makes learning QuickBooks Easy and fun. The course is made with QuickBooks desktop for windows. However, the ideas apply to QuickBooks online as well as QuickBooks for Macintosh and Enterprise solutions. I'm right here for you if you have any questions or need support. I hope you learn well and enjoy the course!-Mark...

7. Master Course in Inventory Management and Inventory Control

4.1

(71)

Master course in Inventory management and Inventory Control: In inventory management, you order and store supplies for your business. A company's inventory management department orders supplies and houses supplies and finished products. An overview makes inventory management sound easy. You'd think ordering supplies and putting them in a warehouse would be pretty easy, wouldn't you? Inventory management, however, keeps track of all supplies so a company can quickly identify when it's time to reorder something. Buying supplies depends entirely on the demand for the end products a company makes. Inventory management: how does it work?There are two ways to look at end-product demand: independent demand and dependent demand. First of all, independent demand is when the amount required isn't dependent on another supply. Customers usually buy these finished goods. In inventory management, independent demand comes from previous sales history, forecasts, educated estimates, and purchased orders. Dependent demand, by contrast, is needed when one supply is predicated on another. In dependent demand, raw materials are used to make finished goods and end products. Concept of Inventory Control: Inventory control refers to a lot of different things that are related only in that both require adequate inventory records and receipts and issues corresponding to these two functions. Control over accounting and control over operations are interpreted as one. Inventories are controlled by properly recording receipts and consumption of materials, as well as the flow of goods through the factory and to the customer. Besides raw materials, work-in-progress, and semi-finished products, it also protects the undertaking's property. In inventory control, inventory levels are maintained at an optimum level based on operational needs and financial resources. The 5 major topics I want to cover in this master's course are:1. Introduction and the importance of inventory management and inventory control2. Inventory formula, benefits, purpose and types of inventory management3. Process of Inventory Management and Techniques for Small Businesses4. Best practices, advantages, processes and types of inventory control5. Inventory control techniques and methods of operations management and cost accountingMaster course in Inventory management and Inventory Control: In inventory management, you order and store supplies for your business. A company's inventory management department orders supplies and houses supplies and finished products. An overview makes inventory management sound easy. You'd think ordering supplies and putting them in a warehouse would be pretty easy, wouldn't you? Inventory management, however, keeps track of all supplies so a company can quickly identify when it's time to reorder something. Buying supplies depends entirely on the demand for the end products a company makes. Inventory management: how does it work?There are two ways to look at end-product demand: independent demand and dependent demand. First of all, independent demand is when the amount required isn't dependent on another supply. Customers usually buy these finished goods. In inventory management, independent demand comes from previous sales history, forecasts, educated estimates, and purchased orders. Dependent demand, by contrast, is needed when one supply is predicated on another. In dependent demand, raw materials are used to make finished goods and end products. Concept of Inventory Control: Inventory control refers to a lot of different things that are related only in that both require adequate inventory records and receipts and issues corresponding to these two functions. Control over accounting and control over operations are interpreted as one. Inventories are controlled by properly recording receipts and consumption of materials, as well as the flow of goods through the factory and to the customer. Besides raw materials, work-in-progress, and semi-finished products, it also protects the undertaking's property. In inventory control, inventory levels are maintained at an optimum level based on operational needs and financial resources. This course cover the content of Inventory Management, Inventory Control, Logistics management, Supply Chain and Stocks management,  Warehouse management and Droposhipping process. The 5 major topics I want to cover in this master's course are:1. Introduction and the importance of inventory management and inventory control2. Inventory formula, benefits, purpose and types of inventory management3. Process of Inventory Management and Techniques for Small Businesses4. Best practices, advantages, processes and types of inventory control5. Inventory control techniques and methods of operations management and cost accounting...

8. SAP MM Inventory Management Course

4.8

(105)

In this course, below topics are explained with Business usage and Configuration. Testing of different goods movements are explained with examples. - MM and FI Posting Periods- Goods Receipt- Goods Issue- Transfer Posting- Reservation usage - Physical Inventory Process- Tips to remember movement types in SAP MM- Doubts sessions on SAP Inventory Management...

9. Supply Chain Management: Inventory Management and Control

4.5

(656)

Practical Course on Realtime business knowledge for Inventory management in Supply Chain. As Inventory management is the heart of supply chain one needs to manage Inventory because inventory is deciding factor in profit and loss of your organization. As it is wisely said Inventory is money you have invested to make profit. This course will help you sell your Inventory fast and give you ROI for your inventory by keeping inventory at the lowest level. As the demand for Supply Chain Management professionals has increased a managers who can bring profit to the organization has also increased knowing your inventory levels is the most important thing in Supply Chain Management. This course will give you answers to all your question when you can fall in trouble by your wrong inventory decisions and what are the right moves for your inventory levels and tools to optimize your inventory in supply chain  ChaptersIntroduction to the Syllabus of the Course on Supply Chain: Inventory Management and ControlWhat is Inventory and Inventory ManagementBased on stage InventoryBased on Purpose InventoryWhy Inventory management is Important in Supply Chain?Advantages and Disadvantage of High and Low level of Inventory in Inventory ManagementCost of inventory and its importance in Inventory ManagementHidden Cost of  Inventory in Inventory ManagementReasons to hold extra Inventory in Inventory ManagementProduction Inventory ManagementFinished Goods Inventory & Supply Chain ManagementSales , Operation Plan and Outsourcing Inventory in Inventory ManagementForecasting Inventory level for future sales for better Inventory ManagementTools for Inventory Management and ControlMore Chapters will be added every week as over team is trying hard to constant update the course as the way of Supply Chain Management is changing every passing year keeping our content and our students updated on Supply Chain and Inventory Management is our primary focus Also a thing to once you enroll for this course you will have lifetime access to our course and update...

10. Master Blazor Development: Build Inventory Management System

4.5

(435)

Blazor (. NET 6 Blazor) is Microsoft latest SPA application framework. With Blazor you can build reactive full stack single page web applications with C# without much help from JavaScript.  More and more companies are adopting Blazor as part of their technology stack. If you haven't started learning Blazor, now is the time to do so. This course takes you onto a journey of creating an Inventory Management System with Blazor Server  in. NET 6, Entity Framework Core, SQL Server and ASP. NET Core Identity. We are going to use Clean Architecture with use case driven development. All core concepts of Blazor are covered while we are implementing each feature of this application. It is really good for someone who hasn't learned Blazor yet. But if you are already familiar with Blazor and are looking for a project to practice, this course will suit you well too. Plus, those lessons of Blazor's concepts will serve as a refresher. The course covers the following technical topics: ASP. NET Core Blazor ServerDependency InjectionAuthentication and Authorization with ASP. NET Core IdentityPolicy based AuthorizationEntity Framework CoreHTMLBootstrapSoftware DesignClean ArchitectureRepository for encapsulating data accessing detailsUse Case Driven DevelopmentBy the end of the course, you will: Be able to independently build web applications with Blazor. Be able to use Entity Framework Core to work with SQL Server database. Be able to protect web applications with Identity. Understand and be able to Implement Clean Architecture. And much more... At the end of the course, you will become a full stack web developer knowing how to create web applications with Microsoft's latest application framework: ASP. NET CORE 5 Blazor. Whether you're new to ASP. NET Core Blazor or have worked with it for a bit, but are looking for a course to fill in the gaps, you will enjoy this course. Since this course not only cover the basics, but goes into each topic in depth. PREREQUISITESIntermediate C# (you should have at least 3 - 6 months experience programming in C#)Basic HTML Basic SQL ServerPrevious knowledge of ASP. NET Core is nice to have, but it is not required since I will cover it in the course. The Course Structure Although this is course is all about practice, all core concepts of Blazor, Entity Framework Core, ASP. NET Core Identity etc. are covered while each feature of the app is being implemented. Coding along is highly recommended. Who this course is forC# developers who want to become full stack developers without the hassle of mastering JavaScript. Developers who work with Razor pages and/or MVC along with front end frameworks/libraries and would prefer work with less JavaScript. Developers with some experience  in Blazor who is looking for a mid-size project to practice. Developers who are curious about Mirosoft's newest SPA application framework: Blazor. Developers who want to learn about implementing Clean Architecture...

11. Supply Chain Management KPIs: Metrics Inventory Performance

4.5

(276)

The performance superpower: KPIs! Key Performance Indicators are essential to anyone creating high performance in their supply chain. Whether you're a logistics manager organising international shipments or an business looking to streamline your warehouse and retail performance, KPIs are one of the most effective business strategies for increasing profits, cashflow and customer satisfaction. This course is for anyone who takes their business skills and professional development seriously. A good supply chain can deliver high output and high satisfaction while maintaining tight control on costs. KPIs give you a constructive method to track your performance, make better business decisions, identify improvement opportunities and monitor your progress. This detailed and comprehensive course will help you to identify which key areas of supply chain management you need to have metrics for. Upskill yourself for a bigger role in driving better performance, higher profits and happier customers while keeping your employees safe, satisfied and productive. Supply Chain KPIs: This course provides you with a wide range of specific KPIs, practical tools and techniques to plan and structure your supply chain KPIsFrom looking at how to effectively measure output for your business, to monitoring cashflow and balancing inventory levels, we'll also explore how each of these fit into the higher business objectives of the company. We'll talk about flexibility being an essential factor in a business's success and how you can use time, capacity and inventory to build it into your operations, allowing you to cope with unexpected changes and disruptions. Together we'll cover the key areas of supply chain performance including how to create an integrated set of KPIs that complement each other, running a robust supply chain & how to present the data clearly using dashboards. We'll cover vital supply chain issues like Costs of Goods Sold, Cash to Cash Cycle Time, Forecast Error and how wastage, dead stock and shrinkage can effect your profit. This course will make you and your team feel confident using this essential information to spot and react quickly to trends, make better business decisions and launch improvement initiatives. About Laurence GartsideLaurence Gartside is a management consultant and business operations coach with a master's degree in manufacturing, engineering and management from the University of Cambridge. He has consulted for numerous major companies around the world and runs his own training company, Rowtons Training. In this course, you will learn: Practical tools and techniques that will improve every aspect of your supply chainHow to create complementary metrics that will work together to ensure the best possible outcomesHow to make sure your KPIs fit into the higher business objectives of the companyTools to help you present your data in a clear and engaging wayHow to monitor the output of your businessEasy ways to report on the critical financial aspects of the company - net profit, ROI and cashflowTo have a good overall picture of your supply chainWhy flexibility in your supply chain could make or break your businessHow to reduce delays, decision tiers and uncertainty to ensure your supply chain is as efficient as possibleKnow how wastage, dead stock and shrinkage could be holding your business backUnderstand how customer lead time & On Time in Full (OTIF) percentage effect customer satisfactionLearn how to effectively measure Days Inventory Outstanding (DIO), Days Sales Outstanding (DSO) and Days Payable Outstanding (DPO) to keep your cashflow healthyGet your supply chain back on track with a set of KPIs that will increase profits, cashflow and customer satisfaction and transform your business TODAY! Full Course ContentsIntroductionCourse OverviewMake a Difference with KPIsBeer or Study?2. Supply Chain PerformanceBusiness Perspective - MetricsSupply Chain PerspectiveWhat We Want From a Supply Chain3. Output and Inventory KPIsKPIs - IntroductionOutputInventory Levels - Simple AverageInventory Levels - High SamplingCost of Goods Sold - COGSInventory Turns / Turnover / VelocityInventory Turns and Days Inventory Outstanding (DIO)Inventory Turns ExamplesControl ChartsInventory Dollar Days and Throughput Dollar Days4. Cashflow KPIsCashflowCash to Cash Cycle Time - IntroDIO - Days Inventory Outstanding - ReminderDSO - Days Sales OutstandingDPO - Days Payable OutstandingCash to Cash Cycle Time - Example and Summary5. Time KPIsMeasuring TimeCustomer Lead Time / Order Fulfilment Cycle TimeThroughput Time6. Supporting KPI TopicsSupporting KPI Topics - IntroductionIntegrated / Complementary MetricsSupply Chain Robustness, Flexibility and RiskHow to Improve a Supply ChainNearly There7. Delivery and Satisfaction KPIsFavors for the Delivery ManMore KPIs - IntroductionFill RateSell Through RateStock-OutsLost Sales Due to Stock-OutsOn Time In Full % (OTIF)Customer Satisfaction8. Variation and Uncertainty KPIsMeasuring Variation & UncertaintyForecast Error - An IntroductionForecast Error9. Waste & Cost KPIsWaste & Costs - IntroductionWastageDead StockHolding Costs of InventoryShrinkage10. KPI DashboardsPresenting KPIs and Dashboards11. ConclusionWrap UpConclusion and Connection12. Bonus and AppendixHow to Get Your CertificateWhat's Next - Further ReadingBonus Lecture...

12. Inventory Management: Types, Functions, Nature and Auditing

4

(80)

The participants will be able to1. Learn a unique way of defining inventory using the left-hand rule.2. Master the types of inventory such as Raw Material, Work-In-Process, Finished Goods, MRO and Distribution Inventory.3. Understand the inventory functions such as Safety Stock, Cycle Stock, Anticipation Inventory and Hedge Inventory.4. Differentiate the Independent Demand from Dependent Demand.5. The two method of Inventory Auditing such as Periodic and Perpetual.6. Understand the inventory basics required for Certified Inventory Optimization Professional (CIOP), Integrated Institute of Supply Chain Management - IISCM. For more details please visit www. ciop. info. Certified Inventory Optimization Professional (CIOP) is a sought-after qualification by companies to create a competitive advantage by transforming their supply chain practices. CIOP certification program is from Integrated Institute of Supply Chain Management (IISCM), a unit of Fhyzics Business Consultants Private Limited. Fhyzics is an ACP of Association for Supply Chain Management (ASCM/APICS), USA and ASC of Chartered Institute of Procurement and Supply (CIPS), UK. The elements of CIOP program are Progress Report, Reference Book, Learning Management System, Assessment and Certificate. The CIOP examination is for 3 hours with 120 questions and the maximum score is 360. Candidates need to secure 252 (70%) or above to pass in the examination. CIOP Examination is a closed, online, proctored examination available throughout the year...

13. Inventory Management: Safety Stock Calculation and Control

4.6

(434)

This MBA style course prepares and empowers you to calculate and control your Safety Stock. A crucial area of Inventory Management. The eternal question: How to balance the risk of stock-outs with the quantity of safety stock inventory held?... We cover 3 methods to calculate your Safety Stock - from super simple to advanced statistics: Method 1: Number of Days of Safety - A fast and very basic method to get a quick decision Method 2: HiHi-AvAv (my own name for a very established method ;)  Finding the difference between our high Lead Time Demand and the average to determine the level of cover we want from periods of high demand during a slow replenishment lead time. Method 3: Statistical Method - The most rigorous method. We model our Lead Time Demand as a Normal Distribution, determine our desired Service Level (acceptable risk of a stockout) and use a little help from some excel formulas to calculate our required Safety Stock and Re-Order Point quantity.  Course Sections:1. Inventory Control Introduction 2. Safety Stock Background 3. Inventory Dynamics4. Simple Safety Stock Calculations5. Calculating Safety Stock using Statistics6. Getting Your Data 7. Assumptions and Limitations of the Statistical Method8. Fixed Lead Time, Variable Demand: Method 3 Continued9. Variable Lead Time and Demand: Method 3 Continued10. Choosing your Service Level - Your Tolerance for Risk11. Probability of a Stockout Over Time - Calculating Risk12. Optimizing Safety Stock Levels13. Conclusion14. Bonus and AppendixThis course is for dedicated operations manager, the ambitious procurement professionals, the striving logistics supervisors, hands-on production planners and the practical business optimization analysts. Remove the guesswork and add structure to your crucial safety stock decisions. Take control of your inventory management to have and impact and improve your business operations - manufacturing, services, industrial operations and production. Equip yourself to take a new leading role in your workplace - improving your processes, systems & business / organization. Quantify your risk, calculate your inventory requirements and articulate your method - removing the guesswork and fearful overstockingDownloadable Summary PDF Documents  - throughout the courseAlmost all businesses have inventory: retail stores, factories, hospitals, hotels, car repair, warehousing, logistics and more - this means we all have to decide how much to hold and when to place an order from the suppliers for more. Place the order too late and, with a little extra demand than usual, you might stockout! Carry too much inventory and you pay for it in holding and financing costs every day, quietly sucking the profit from your business and crippling your cashflow and investment opportunities. Having enough stock available whilst minimising costs and risk is the fundamental balance that can determine your business's success. Getting a strong control and continuously improving your business operations is essential to remain competitive, improving profitability, improving customer experience and customer satisfaction, reducing costs and improving delivery. Without a solid grasp of safety stock and methods of calculation; no operations manager, can competently or confidently manage their risk without excessive costs. Be the one bringing clarity and structure to this most crucial decision! Specific Topics Covered in the Course: Why we need Safety StockConsequences of StockoutsCosts of InventoryInventory DynamicsQuick Calculations of Safety StockRigorous Statistical Method to calculate Safety StockHow to Model your Lead Time DemandHow to Determine your own desired Service LevelWhat the Probability of having a Stockout in a given period of timeHow we can Reduce our Need for Safety StockAlternatives to holding Safety StockTake control! Boost your career and your business!  Start learning today! FULL COURSE CONTENTS: Inventory Control Introduction 1. Benefits of Good Safety Stock Inventory Management2. Bond's Lobster Story3. What is Safety Stock - Why do we Need Buffer Stock?4. Much Obliged! Safety Stock Background 5. Supply Chain Trade Offs - Risk and Consequences of Stock-outs6. Supply Chain Trade Offs - Costs of InventoryInventory Dynamics7. Basic Inventory Dynamics - Introduction8. Basic Inventory Dynamics - Sawtooth9. Re-Order Point and Alternatives10. Purchasing Order Quantity Choices11. How much Safety Stock? - Procurement's Problem QuestionSimple Safety Stock Calculations12. Safety Stock Calculations - Introduction13. Method 1: Simple Inventory Control Formula: # Days of Safety14. Method 1: Practice Question: # Days of Safety15. Method 2: HiHi-AvAv - Protecting Against the Worst Case16. Method 2: HiHi-AvAv - Explanation17. Method 2: HiHi-AvAv - Practice 1 & Answer18. Method 2: HiHi-AvAv - Practice 219. Method 2: HiHi-AvAv - Practice 2 - 2nd round20. Method 2: HiHi-AvAv - SummaryCalculating Safety Stock: Method 3: Statistical Method21. Service Level and Statistical Distributions22. Introduction to the Statistical Method23. Service Levels and Statistical Variation24. Normal Distribution Modelling25. Service Level Definition26. Statistical Method - High Level Overview27. Jumping Ahead - A quick look28. Need to Refresh your Probability Knowledge?29. Normal Distribution Introduction30. Normal Distributions and Standard Deviations31. Lead Time Demand as a Normal Distribution32. Representing Service Level on the Bell Curve33. Steps Overview34. How Many Standard Deviations of Safety Stock35. Intermediate Practice Question36. Safety Stock in Retail - Example 237. Alternative Formula =norm. inv()38. Working Backwards to find your Service LevelGetting Your Data39. Getting your Data - Introduction40. Finding the "Mean" and "Standard Deviation" from your DataAssumptions and Limitations of the Statistical Method41. Assumptions and Limitations of Method 3Fixed Lead Time, Variable Demand: Method 3 Continued42. Different Input Data- Introduction43. Calculating Safety Stock: Fixed Lead Time, Variable Demand44. Calculating Safety Stock: Fixed Lead Time, Variable Demand - ExampleVariable Lead Time and Demand: Method 3 Continued45. Variable Lead Time and Demand - Method and Example46. Variable Lead Time and Demand - Question and Answer47. Rounding Up or Down?… - Costs $60k!48. Which Formula to Use? SummaryChoosing your Service Level - Your Tolerance for Risk49. Choosing your Service Level - Introduction50. Service Level Definition: Recap51. What Factors should Influence how "Safe" we want to be??52. Marginal Analysis - Choosing your Service Level53. Marginal Analysis - ExampleProbability of a Stockout Over Time - Calculating Risk54. What's the Probability of a Stockout? - Introduction55. What's the Probability of a Stockout? - Excel ToolOptimizing Safety Stock Levels56. When to Review and Optimize your Safety Stock57. Reducing the Need for Purchasing Safety Stock58. Demand Management to Reduce Safety Stock59. Lead Time Management to Reduce Safety Stock60. Alternatives to Safety Stock - Other ActionsConclusion61. Wrap Up62. ConclusionBonus and Appendix63. What's Next- Further Reading64. My Other Courses65. How to Get Your Certificate66. Hide Your Nuts! My goodness did you read allllll that?!   Time to get to the videos! :)See you on the inside! Laurence...

14. Complete Inventory Management in Microsoft Excel &TALLY ERP9

3.8

(391)

Recent Student's Reviews***excellent highly recommended course, key Inventory management terms and concepts explained in detail and summarized; with real practical examples to consolidate what has been learned - Luis Rodrigo I.****** This course is well detailed in inventory management. I really learnt how to make practical use of excel, tally ERP9 and good inventory valuation (Williams Oguamah) ******Yes it is, I'm having refresher course for what I have learned during college days and it really helps me a lot. - SHYRRA APRIL E.*****Yes it is a good match for me. It will help me in my career path ( Dineo ) ****** it was awesome to learn & get insights from this course (Haritha. L) ****** Very Helpful (JULIUS IGNACIO)****** Happy and learning ( Roshir Ann Go Poyaoan) ***Eight Reasons why you should choose this Complete Inventory Management in Microsoft Excel &TALLY ERP9 CourseBest Rated Course on UdemyLatest updated and Doubts Are Solved in this courseCarefully designed curriculum By Proficient In Inventory Managementyou can complete this course In Short time Inventory related examples and case studies Provided Example And  practice exercises Are Able to Download in The Recourse Section Your queries will be responded by the Instructor With In Short time A Verifiable Certificate will Be Provided On the Completion The Course is part of the Operational Management Training Program and Every companies need to Manage inventory to produce their goods or services and make sure to supply the goods or services continuously to their market segment. The Managing and processing Inventory Management is an important task, and it's vital that those handling the inventory management have a full understanding and knowledge of the processes involved. The understanding and operating of a inventory management system within a business is an essential requirement for perform the inventory management process exactly and correctly with lower financial Cost. The course is assist that how to Manage the inventory in Microsoft Excel and Tally ERP9. Welcome to My Complete Inventory Management In Microsoft Excel & TALLY ERP9 Course. This course contain a Real practical Example with calculation process. I have given task to do then video answer is available. It is suggested that you. What is covered in this course?What Is Inventory?What Are The Types Of Inventory?What Is Inventory Management?What Are The Objectives For Inventory Management?What Is The Inventory Valuation?What Are The Types Of Inventory Valuation?What Is The First In First Out (FIFO) Inventory Valuation Method?What Is The Last In First Out (LIFO) Inventory Valuation Method?What Is The Weighted Average Cost/Price Inventory Valuation Method?How To Create The Item List Table For Inventory Management In Microsoft Excel?How To Create The Inventory In , Out , Status Table In Microsoft Excel?How To Apply The Formulas For The Inventory In , Out , Status Table In Microsoft Excel?How To Enter The Inventory Transactions & Analysis The Report In Microsoft Excel?How To Install Tally ERP9?What Are The Steps Of Inventory Management In Tally ERP9?How To Create The Company In Tally ERP9?How To Create The Basic Accounts In Tally ERP9?How To Create The Godown In Tally ERP9?How To Create The Stocks In Tally ERP9?How To Enter The Transactions & Analysis The Report In Tally ERP9?Go ahead and click the enroll button, and I'll see you in Chapter 1! CheersA. M. A. M. Mubeen...

15. Inventory Management A-Z: Supply Chain & Business Operations

4.6

(3,087)

This MBA style course prepares and empowers you to make a REAL difference. Turbo-charge your career, and your business performance, to the highest levels. This course is for the new or aspiring operations manager, the ambitious procurement professionals, the striving logistics supervisors, hands-on production planners and the practical business optimization analysts. Take control of your inventory management to have and impact and improve your business operations - manufacturing, services, industrial operations and production. Equip yourself to take a new leading role in your workplace - improving your processes, systems, business / organization. Understand the fundamentals, then details of the essentials of inventory management, the core business trade-offs, essential analysis, calculations and basic optimisation methods. Become the Inventory Supply Chain authority in your team on improving the operations systems in your businessSpecific Techniques and Calculation Methods taught: Little's Law:                                       Calculate your mathematical minimum WIP for your processEconomic Order Quantity (EOQ):     Master this most common formula to minimise your total costs Price Break Model:                             An advanced EOQ method which lets us consider price discounts with order sizeABC Analysis:                                     Classify and group your inventory to prioritise attentionPerformance Metrics:                         Detailed explanation of the top 8 most important and useful inventory KPIs  Safety Stock Levels:                            Calculate and cover your risk with basic and an advanced version using statistics modelling step by step in excelBusiness operations come in all shapes and sizes with a host of unique challenges; but good inventory management is essential to them all. Whether you work in retail, manufacturing production, distribution and logistics or even service companies such as restaurants, hospitality or health and beauty; having the right stock available whilst minimising costs and risk is the fundamental balance that can determine your business's success. Getting a strong control and continuously improving your business operations is essential to remain competitive, improving profitability, improving customer experience and customer satisfaction, reducing costs and improving delivery. Without a solid grasp of inventory, no operations manager, junior or senior, can competently or confidently look to improve their business, the processes, systems and teams that make it successful. Take control of your career and equip yourself with a solid base in Inventory Management full of practical insights and tools that you can use right now to unlock the potential of your business processes! Course Sections:1. Introduction to Inventory Management 2. What is inventory? 3. Why do we need inventory? 4. Costs of inventory 5. Measuring Performance 6. Part Classification 7. Inventory Dynamics 8. Economic Order Quantity 9. EOQ Advanced: Price Break Model 10. Order Timing and Inventory Control 11. Safety Stock Calculations Course ExtrasDownloadable Documents with summaries and exercisesSummary Test with 70 multiple choice questions to test and lock in your learningsTake control! Boost your career and your business!  Start learning today! 1. Introduction to Inventory ManagementWelcomeTraveler's DilemmaMotorbiking down AfricaAny QuestionsWhat is Inventory ManagementWhy is Inventory Management importantCourse Topics2. What is inventory? What is InventoryInventory though your businessTypes of Inventory3. Why do we need inventory? Why do we need inventory?Why else do we hold inventory?Other less good reasons for inventoryLittle's Law16. Little's Law: Example 24. Costs of inventory Costs of InventoryFinancial View of InventoryOperational Costs of InventoryScottish WhiskeyCosts of not enough inventoryBusiness ConflictsRock Boat Analogy5. Measuring Performance Measuring Performance - IntroductionWhat are MetricsBusiness Perspective on Inventory PerformancePopular Inventory MetricsInventory Turns and Days on HandTurns ExamplesControl ChartsInventory Dollar Days and GMROIOther Metrics6. Part Classification Part Classification - IntroductionABC Analysis35. Runners, Repeaters & StrangersIndependent vs Dependent DemandBOM & MRP7. Inventory Dynamics Basic Inventory Dynamics - IntroductionInventory Dynamics 1Inventory Dynamics 28. Economic Order Quantity Order Quantity Decisions - IntroductionEconomic Order QuantityEOQ ExamplesSensitivity and Limitations of EOQBatch Sizes and WIPEconomic Batch Quantity (EBQ)Order Quantity Decisions - Other Methods9. EOQ Advanced: Price Break Model Price Break Model & EOQPrice Break Model - ExampleUnderstanding the curvePrice Break Model - Exercise10. Order Timing and Inventory Control Order Timing Decisions - IntroductionWhen to order?Continuous Review SystemTracking Inventory LevelsPassive Inventory Control - PullInventory PositionInventory Position - Exercise11. Safety Stock Calculations Safety Stock - IntroductionWhy Safety Stock?Calculating Safety Stock - SimpleCalculating Safety Stock - using StatisticsNormal Distributions and Standard DeviationChoosing your service levelCalculating Safety Stock - ExampleCalculating Safety Stock - Example 2Safety Stock SummaryTake control! Boost your career and your business!  Start learning today! All the inventory you could possibly need!:)See you on the inside! Laurence...