Certificate in Inventory Management
- Learn about basic concepts of inventory management.
- Understand various techniques of store management and inventory handling techniques.
- Various opportunities in the field of-Industrial Inventory Management, Asset Inventory Management as Inventory Controller, Inventory Manager, Warehouse Supervisor and much more.
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- Interactive Learning Exeperience
- Subject matter Experts
- Certifications from accredited university
- 24/7 Accessible digital library
|Duration: 2 Months|
|Certificate of Completion|
Various opportunities can be in the fields of-Industrial Inventory Management, Asset Inventory Management, Inventory Controller, Inventory Manager, Warehouse Supervisor etc.
After completing the course learners will be well equipped with:
- Knowledge of inventory management techniques
- Material requirement planning
- Will learn how to maintain the stock levels
- Learn the modeling techniques of inventory
- Learn the material Handling techniques
- Module I: Inventory: Concept, Inventory Classification, Functions of Inventory, Advantages and Disadvantages of Inventory. Inventory Control: Objectives, Factors affecting Inventory, Control Policy, Inventory Costs
- Module II: Material Requirement Planning (MRP), MRP Objectives & Methods, MRP System Components, Limitations and Advantages of MRP
- Module III: Factors affecting Stock levels, Maximum and Minimum Level, Order Point, Reorder Level, Perpetual Inventory System, Lead Time, Economic Order Quantity (EOQ), BASIC EOQ Model, Safety or Buffer Stock, Feedback Inventory Information System. Selecting Inventory Control Techniques: ABC Analysis, HML Analysis VED Analysis, SDE, GOLF, FSN SOS XYZ Classification. Just in Time (JIT)
- Module IV: Inventory Models: Static, Dynamic and Deterministic Models Probabilistic Models: Determination of EOQ under various conditions of Demand and Lead-Time Analysis.
- Module V: Stores Management: Store Objectives, Receiving Procedures and Control, Identification of Materials, Stores system and Procedures Classification and Codification, Standardisation, Storing of Materials, Stores Location and Layout, Preservation, Issue Control, Stores Documentation. Stock Valuation Methods and Stock Verification.
- Module VI: Material Handling: Choice of Equipment’s, Evaluation of Material Handling, Cost Reduction Methods. Traffic: Transportation cost, Shipping terms, Model of transportation, Loss and damage of Freight Demurrage, Transportation Strategy and Cost Reduction. Waste management : Sources of Surplus, Disposal of Surplus, Buying Surplus Material
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