Inventory Management

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This module examines the operational and strategic management of inventories and the role of inventory management in improving competitiveness of an enterprise. It explains the most important practical aspects associated with inventory management from warehouse design and operations through forecasting requirements and parts variety reduction to evaluating inventory practices and building an inventory plan of action.

1. Optimize inventory levels;
2. Forecast inventory requirements;
3. Design and manage warehouse operations;
4. Increase traceability and reduce parts variety; and
5. Build an inventory management plan.

I.    INTRODUCTION TO INVENTORY MANAGEMENT

         A.   What is Inventory Management?

         B.   Why is it important to keep inventory?

         C.   How much inventory to keep?

         D.   What to keep and where to keep it?

II.    WAREHOUSE AND INVENTORY OPERATIONS

         A.   Measuring and Evaluating Inventory

         B.   Systems to replenish inventory

         C.   How much to order?

         D.   When to place an order?

         E.   Action Points

III.   MANAGING AND FORECASTING INVENTORY

         A.   Lead Time Management

         B.   Demand Forecasting Techniques

         C.   Action Points

IV. INVENTORY PLANNING

         A.   Service Level Policies

         B.   Categorization Techniques

         C.   Traceability and Variety Reduction

         D.   Inventory Management Plan

         E.   Performance Analysis and Reporting

         F.   Action Points

V.   WAREHOUSE PLANNING AND SYSTEMS

         A.   Warehouse Design and Layout

         B.   Materials Handling and Equipment

         C.   Warehouse Operations

         D.   Record Keeping and Communication

         E.   International Quality Standards

         F.   Action Points

is the Strategy and Operations Support Head at Health Solutions Enterprises, Inc. He is responsible for order fulfillment, supply chain management, after-sales service, and strategy & business development.

"This course has helped me realize what areas in our warehouse are inefficient and need improvement. The lecturer was able to discuss all the topics under inventory management in a very scientific approach."

- Javier R. Gancayco
  Materials Management Head, Beta Equipment Sales Corporation

"The program validated the directions given to us by top management. While it is full of concepts and ideas, it still allows for the flexibility with which these can be applied in our unique setting."

- Paul Ryan B. Salazar
  Assistant Manager, St. Luke's Medical Center

"Inventory Management course helped us realized what our company is lacking in terms of inventory and compare the system that other company is using."

- Russel John C. Mañap
   Lead Core, Technology System Inc.

"The module will certainly help us in establishing more efficient process and operations in regards with our inventory management and warehousing."

- Joseph C. Severo
  Quality Assurance Officer, Fairex Trading (Magsaysay Group of Company)