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Course Outline - Foundations of Inventory Management

Module 1: Operations Management

  • Operations management foundations.
  • Operations strategy and value-added activities.
  • Ten strategic operations management decisions.

Module 2: Introduction to Inventory Management

  • Inventory objectives and classes.
  • Inventory levels and supply chain flows.
  • Inventory as asset, liability, and financial impact.

Module 3: Purpose and Function of Inventory

  • Cycle, safety, and seasonal inventory.
  • Inventory ordering, carrying, and stockout costs.
  • Inventory valuation and performance measurement.

Module 4: Inventory Replenishment Management

  • Replenishment review periods.
  • Order point, periodic review, and two-bin systems.
  • Safety stock, standard deviation, and EOQ.

Module 5: Additional Inventory Replenishment Techniques and Inventory Performance

  • Supplier lead time uncertainty.
  • Time-phased order point planning.
  • ABC classification and inventory accuracy.

Module 6: Lean Inventory — Theory and Practice

  • JIT and lean inventory concepts.
  • Waste reduction and pull systems.
  • Kanban, 5S, kaizen, and employee involvement.

Module 7: Introduction to Purchasing and Procurement

  • Purchasing vs. procurement.
  • Tactical buying and strategic sourcing.
  • Purchasing cycle and procurement strategy.

Module 8: Sourcing Strategies

  • Strategic sourcing process.
  • Make-or-buy and spend analysis.
  • Supplier relationships and SRM.

Module 9: Purchase Order Management

  • Purchase order flow.
  • MRP purchase order actions.
  • VMI, purchasing methods, and e-SRM tools.

Final Assessment

  • Review key concepts from the program.
  • Validate understanding through a structured quiz.
  • Confirm readiness to apply the learning.

Module 11: Personal Productivity, Creativity, and Professional Relevance

  • Identify high-value work as AI automates routine tasks.
  • Explore creativity, empathy, judgment, and systems thinking.
  • Practice digital knowledge management for modern work.

Final Assessment

  • Review key concepts from the program.
  • Validate understanding through a structured quiz.
  • Confirm readiness to apply the learning.

Learn at your convenience

*Note: These are self-paced courses, allowing learners to study independently at their own pace.

Course Bundle Fees
$0
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