Inventory Management

What You Will Learn

• 1 Learn the foundational principles of inventory management and its role in supply chain strategy.
• 2 Understand classification methods such as ABC analysis, XYZ analysis, and FSN analysis to prioritize inventory efforts.
• 3 Apply demand forecasting techniques including moving averages, exponential smoothing, and regression analysis for accurate replenishment.
• 4 Analyze inventory valuation methods like FIFO, LIFO, and weighted average cost for financial reporting and decision-making.
• 5 Explore warehousing design, storage systems, and material handling equipment to improve space utilization and throughput.
• 6 Implement inventory planning systems including ERP, MRP, and DRP to synchronize demand and supply across the enterprise.
• 7 Develop lean inventory practices with Just-in-Time, Kanban, and waste reduction strategies to minimize working capital.
• 8 Measure inventory performance using KPIs such as inventory turnover, days of inventory outstanding, and fill rate.
• 9 Coordinate inventory with supply chain partners and apply risk management techniques for disruptions and volatility.
• 10 Create a strategic inventory optimization roadmap that balances service levels, costs, and sustainability objectives.