Fundamentals of Inventory Control

Participants will be introduced to the essential vocabulary and skills in identifying and applying the basic principles of inventory management.  Basic methods of planning and controlling inventory in manufacturing, institutional, distribution and retail environments are covered.  The questions of what to stock are addressed through an examination of current and evolving technologies of inventory management.

Sessions

  • Fundamentals of Inventory Management
  • Inventory Functions
  • Order Quantities
  • Perpetual Inventory Systems
  • Periodic Inventory Systems
  • Forecasting
  • Midterm Examination and Case Study Presentation
  • Warehousing Management and Distribution Requirements Planning
  • Inventory Record Accuracy, Supply Chain Management, Aggregate Inventory and Purchasing
  • Just-in-Time (JIT) and Total Quality Management (TQM)—Trends in Inventory Management
  • Case Study and Final Examination Review
  • Final Examination