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Inventory Management

Course Overview


All organization need to maintain inventory in various forms like raw materials, work in progress (WIP) and finished products. However, maintaining inventory at optimum level is a perennial challenge. On the one hand there is risk of stock out and building up of excess inventory on the other. Hence, maintaining inventory at optimum level is essential for business organisation which can lead to additional profits.

Course Content


  • What is Inventory and how it impacts our business?
  • Challenges in managing the inventory
  • How to calculate Ordering Cost and Inventory Carrying Cost
  • What is ABC (Class of materials) analysis and how to use it?
  • How to improve productivity through ABC analysis?
  • How to do the scientific selection of the vendors?
  • What is EOQ and how to calculate EOQ for various price bands
  • How to calculate Total Material Cost and its use for negotiations
  • How to Determine various stock levels
  • KPIs (Key Performance Indicators) for managing the inventory
  • KPIs for managing the vendors
  • KPIs for managing the warehouse

Customer Reviews


Thanks to Xpertised and the tutor who walked me through all the topics with Practical exposure which is helping me in my current project.
-Waseem

Course was quite helpful in terms of understanding of concepts and practicality. Its really a very friendly environment to learn. The timing were mutually chosen, as we both are working professional. I am quite satisfied with the course.
-Tanmoy

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