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via Udemy |
Go to Course: https://www.udemy.com/course/mimsitmi/
Review of the Coursera Course: "Strategic Inventory Management" If you're a supply chain professional, inventory manager, or anyone involved in demand planning, logistics, or procurement, this course offers a comprehensive and practical approach to mastering inventory control. Designed by industry and academic experts, the course covers a broad spectrum of topics essential for optimizing your inventory processes and boosting your career. Course Overview: This course provides a deep dive into inventory management, starting with fundamental concepts and progressing to advanced techniques. It emphasizes the importance of effective inventory control in reducing costs, enhancing customer satisfaction, and improving overall supply chain efficiency. The course combines theoretical knowledge with practical case studies, calculations, and ready-to-use Excel templates that simplify complex analysis. What You Will Learn: - Inventory Planning & Costs: Understand various costs associated with inventory, including ordering, holding, shortage, and spoilage costs. - Inventory Control Techniques: Master selective control methods like ABC, XYZ, HML, FSN, VED, SDE, S-OS, GOLF, and PQR analyses, complete with automated Excel calculations. - Replenishment Strategies: Learn about safety stock calculations, reorder points, EOQ, Min-Max levels, and vendor-managed inventory (VMI), with real-life case studies including Walmart’s VMI strategy. - Performance Metrics: Gain skills in analyzing inventory performance through KPIs such as turnover ratio, days on hand, gross margin return, and inventory accuracy. - Supply Chain Planning: Explore MPS and MRP processes, their interrelation, and how they influence inventory control. - Bonus Content: Broader concepts in supply chain planning, demand forecasting, lean inventory, and inventory cost reduction. Course Format: - Self-paced, on-demand video lessons to learn flexibly according to your schedule. - Interactive quizzes reinforce your understanding. - Lifetime access ensures you stay updated with the latest practices. - Expert Q&A sessions for personalized support. - A certification of completion to showcase your new skills. Who Should Enroll: This course is ideal for Inventory Managers, Supply Chain Managers, Operations Managers, Warehouse Managers, Procurement Specialists, Business Analysts, MBA students, and supply chain leaders in manufacturing, retail, or distribution industries. Pros: - Thorough coverage of inventory management concepts with practical tools. - User-friendly Excel templates facilitate quick implementation. - Delivered by seasoned experts, blending theory with real-world applications. - Suitable for beginners and experienced professionals aiming to deepen their knowledge. - Enhances your career prospects with in-demand skills in supply chain analytics. Cons: - The depth of content might be overwhelming for absolute beginners without prior supply chain knowledge. - Some topics may require supplementary learning for full mastery. Final Recommendation: I highly recommend this course if you're seeking to elevate your inventory management expertise and streamline your supply chain operations. Its comprehensive content, practical approach, and flexible format make it a valuable investment for professionals looking to optimize costs, improve efficiency, and gain a competitive edge. Enroll today to unlock your supply chain potential and take a significant step forward in your career. Enroll now and start transforming your inventory processes for greater business success!
Unlock Your Supply Chain Potential with this Course focused on Inventory Management & Inventory control! Inefficient inventory management can lead to a domino effect, negatively impacting people, processes, and systems within the organization. Any mismanaged inventory disrupts the entire business ecosystem.Are your supply chain professional keeping you up at night? Unleash the power of strategic inventory management and revolutionize your business operations today! Master the Art of Inventory Optimization Boost Efficiency & Reduce Costs Seamlessly Integrate Supply Chain Tactics Elevate Your Career with In-Demand SkillsJoin our exclusive Udemy course and gain the expertise to streamline your inventory processes, enhance customer satisfaction, and supercharge your business growth.What You'll Learn:- Inventory Planning- Inventory Costs and Impact- Selective Inventory control Techniques- Inventory Replenishment methods- Inventory KPI's- Entire Inventory analysis in Excel with readymade templatesEnroll Now and Enjoy:- On-Demand Video Lessons - Learn at Your Pace- Interactive Quizzes - Reinforce Your Knowledge- Lifetime Access - Stay Updated Always- Expert Q & A - Get Your Questions Answered- Certificate of Completion - Showcase Your SkillsWhom this course is designed for? Inventory ManagersSupply Chain ManagersOperations ManagersWarehouse ManagersProcurement SpecialistsBusiness Analysts / Supply Chain AnalystsMBA StudentsExecutives in manufacturing, retail, or distribution industriesInvest in your future. Transform your supply chain. Enroll in "Strategic Inventory Management" now!Background of the courseThis course will help you drastically improve your knowledge and skills in Inventory Management practices through a series of must know concepts, practical cases, case studies, calculations, examples and Ready Excel Templates for numerous inventory analysis in few minutes. This course is designed by Academic & Industry experts in the field for everyone who is in Supply Chain / Inventory / Demand planning role or wanted to make their career in the field. This course is designed for Supply Chain Managers, Inventory Managers, Supply Chain Analysts, Buyers, Demand Planners, Inventory planners, Transportation, warehousing & Logistics planners & even supply chain leaders.What this course covers?This course covers extensive content in a simple explanations and covers all must know topics within inventory management practices in five key modules as below.Module 1 - Introduction to Inventory Management· Introductiono What is inventoryo Types and of inventory· Activities involved in Inventory Management function· Understanding Inventory Costs: A Comprehensive Overviewo Ordering Costo Carrying or holding costo Shortage or stock out costo Spoilage costo Other costso Tabular examples of the costs· Need for effective inventory management today - From Burden to Opportunityo Contribution of Inventory in working capitalo Research studies about inventory contribution in company's working capital.o Inventory contribution in retail, manufacturing and service companies.o Role of inventory holding costo Research studies on contribution of holding cost in inventory costs.· Benefits of well managed inventory - From Chaos to Controlo Cost optimization & Cash flow managemento Customer Satisfactiono Improved supply chain efficiency.o Profit maximizationModule 2 - Selective Inventory control methods & Analysis in Excel· Overview of Selective inventory control· Why Selective inventory control?· What are benefits of selective inventory control?· Overview of ABC Analysis - Meaning, Logics & Uses.· Overview of XYZ Analysis - Meaning, Logics & Uses.· Overview of HML Analysis - Meaning, Logics & Uses.· Overview of FSN Analysis - Meaning, Logics & Uses.· Overview of VED Analysis - Meaning, Logics & Uses.· Overview of SDE Analysis - Meaning, Logics & Uses.· Overview of S-OS Analysis - Meaning, Logics & Uses.· Overview of GOLF Analysis - Meaning, Logics & Uses.· Overview of PQR Analysis - Meaning, Logics & Uses.· Excel Calculation & Automated calculation sheet for ABC, XYZ, HML, FSN, PQR, ABC-XYZ analysis.Module 3- Inventory Replenishment planning methods· Four Inventory replenishment Methods· What is Safety Stock, Why it is needed?· Calculation of Safety Stock in Excel & Ready excel sheet for quick calculation· Calculation of Reorder Point (ROP) in Excel & Ready excel sheet for quick calculation· Calculation of Economic Order Quantity (EOQ) in Excel & Ready excel sheet for quick calculation· Calculation of Min Max levels in Excel & Ready excel sheet for quick calculation· Planning strategies in Business environments - All about MTO, MTS ATO & ETO.· Vendor Managed Inventoryo What is VMIo How it is different from traditional inventory replenishmento Process flow in VMI & traditional inventory replenishmento Benefits of VMIo Top Companies who uses VMI in their businesses· VMI Case study of big retail giant Wal-Mart (Unlocking Efficiency & Profits)Module 4 - Inventory Performance Management through Metrics· Overview of Average inventory - Meaning, Calculation & Example· Overview of Cost of Goods Sold (COGS) - Meaning, Calculation & Exampleo Exclusion & Inclusions in COGS costs.· Overview of Inventory turnover ratio (ITR)- Meaning, Calculation & Example· Overview of Days on Hand (DOH)- Meaning, Calculation & Example· Overview of Inventory Accuracy - Meaning, Calculation & Example· Overview of Gross Margin return on inventory investment (GMROII)- Meaning, Calculation & Example.· Overview of Days of Sales (DOS)- Meaning, Calculation & Example.· Overview of Excess & Obsolete Inventory (E & O) - Meaning, Calculation & Example.· Overview of on time delivery (OTD) - Meaning, Calculation & Example.· Overview of on time in full (OTIF) - Meaning, Calculation & Example.· Excel calculation & ready template for calculation of average inventory, ITR, DOH, DOS, GMROII· Excel calculation & ready template for E & O Inventory· Excel calculation & ready template for OTD & OTIFModule 5 - Bonus Module: Supply Chain Planning processes that deals with Inventory Control· Master Production Schedule (MPS)o What is MPS , Its interlink with Demand Plano Example how to run MPSo Inputs & Outputs of MPSo Bill of Material & Example.· Materials Requirement Planning (MRP)o What is MRP , Its interlink with MPSo Objectives of MRPo Inputs & Outputs of MRPo Example & Calculation of MRP with examples· MPS Vs MRPo Dependent demand Vs Independent demando Difference between MPS & MRP.What you will learn at end of the course? Inventory Management Systemsafety stock & Stock ManagementWarehouse Managementinventory optimizationBeginner's to experts Guide for Inventory ControlUltimate Inventory OptimizationAdvanced Inventory PlanningComprehensive Inventory ManagementInventory Planning & control through Microsoft ExcelHow to Optimize inventory, reduce costs, and enhance profitability with expert planning and Excel skills.Key Learnings:Inventory ManagementInventory ControlSupply Chain ManagementWarehouse ManagementMS ExcelABC AnalysisXYZ AnalysisSafety StockReorder PointEconomic Order Quantity (EOQ)Min-Max InventoryInventory ReplenishmentInventory PlanningInventory OptimizationInventory CostsInventory AnalysisKPIs (Key Performance Indicators)Inventory TurnoverDays on Hand (DOH)CPIM (Certified in Production and Inventory Management) Preparation.Demand ForecastingVendor Managed Inventory (VMI)Lean InventoryInventory Cost ReductionInventory Analysis in ExcelEnroll Now!!