Understanding Inventory and Supply Chain Management
- Introduction to Supply Chain Management: Key Components and Importance.
- Role of Inventory Management within the Supply Chain.
- Types of Inventory: Raw Materials, Work-in-Progress, Finished Goods.
- Cost Implications of Inventory: Holding Costs, Ordering Costs, and Stockout Costs.
Inventory Control Strategies
- Economic Order Quantity (EOQ) and Its Application.
- Safety Stock and Reorder Point Calculations.
- Periodic Review and Continuous Review Systems.
- Just-in-Time (JIT) and Vendor Managed Inventory (VMI).
Demand Forecasting and Planning
- Importance of Demand Forecasting in Inventory Management.
- Qualitative and Quantitative Forecasting Techniques.
- Role of Safety Stock in Demand Variability.
- Sales and Operations Planning (S&OP) Process.
Role of Technology in Supply Chain and Inventory Management
- Introduction to Supply Chain Information Systems.
- Role of ERP Systems in Inventory Management.
- Impact of IoT, AI and Blockchain on Supply Chain Management.
- Case Study: Successful Technology Implementation in Supply Chain.
Comprehensive Supply Chain Strategy
- Aligning Supply Chain Strategy with Business Strategy.
- Incorporating Efficient Inventory Management into Supply Chain Strategy.
- Measuring and Improving Supply Chain Performance.
- Future Trends in Supply Chain and Inventory Management.