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Procurement and Inventory Optimization Course

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Business and Economics

Procurement and Supplies

Procurement and Inventory Optimization Course

For all levels

Procurement and Inventory Optimization Course

Name: Procurement and Inventory Optimization Course
Price: 264 CAD

Master the tools and frameworks that drive smarter procurement decisions and leaner inventory operations. This course gives supply chain and procurement professionals a practical, end-to-end skill set — from demand forecasting and supplier selection to contract management and risk mitigation. If you're ready to cut costs, reduce waste, and build a more resilient supply chain, this is where you start.

Dedika for Business

What you will learn:

You will learn how to analyze demand data and build accurate forecasts using proven quantitative techniques. You will apply inventory optimization models, including EOQ, safety stock formulas, and ABC-XYZ classification, to reduce carrying costs while maintaining service levels. You will design strategic sourcing processes, evaluate suppliers with objective scorecards, and structure contracts that protect long-term value. You will also develop skills in procurement operations, performance metrics, and supply chain risk assessment. By the end, you will be able to build a multi-year procurement and inventory roadmap aligned to your organization's financial and operational goals.

How you study in practice Procurement and Inventory Optimization Course

How you practise Procurement and Inventory Optimization Course

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Course Content

8 Chapters • 39 LessonsDuration between 4 and 360 hours (you decide)

Chapter 1See details

Foundations of Procurement and Inventory

Lesson 1 • Core Procurement Concepts
Introduces purchasing cycles, spend categories, and sourcing types. Connects procurement decisions to cost and supplier relationship outcomes.
Lesson 2 • Supply Chain Structure and Roles
Maps the end-to-end supply chain and locates procurement and inventory within it. Establishes the vocabulary used throughout the course.
Lesson 3 • Procurement and Inventory Interdependencies
Examines how purchasing decisions directly affect inventory levels and cash flow. Reinforces why integrated planning outperforms siloed management.
Lesson 4 • Core Inventory Concepts
Defines inventory types, holding costs, and stockout consequences. Provides the conceptual base for all inventory optimization techniques.

Chapter 2See details

Demand Analysis and Forecasting

Lesson 1 • Forecast Accuracy Measurement
Teaches MAE, MAPE, and bias metrics to evaluate and improve forecast models. Connects accuracy measurement to inventory and procurement planning decisions.
Lesson 2 • Collaborative Forecasting Practices
Introduces CPFR and cross-functional consensus processes to align forecasts. Shared forecasts reduce the bullwhip effect and improve procurement planning.
Lesson 3 • Qualitative Forecasting Methods
Introduces judgment-based techniques for new products or sparse data situations. Balances expert opinion with structured processes to reduce bias.
Lesson 4 • Quantitative Forecasting Techniques
Applies moving averages, exponential smoothing, and regression to demand data. Students select appropriate models based on data patterns.
Lesson 5 • Demand Data Collection and Cleansing
Covers data sources, outlier detection, and preparation of clean demand histories. Clean data is the prerequisite for all forecasting methods introduced later.

Chapter 3See details

Inventory Optimization Techniques

Lesson 1 • Economic Order Quantity Models
Derives and applies the EOQ formula and its extensions to minimize total inventory cost. Builds the mathematical foundation for all subsequent replenishment models.
Lesson 2 • Periodic and Continuous Review Systems
Compares fixed-interval and fixed-quantity replenishment systems and their trade-offs. Students match review systems to item classifications and operational constraints.
Lesson 3 • ABC and XYZ Classification
Segments inventory by value and demand variability to prioritize management effort. Classification drives differentiated replenishment and review policies.
Lesson 4 • Reorder Point and Safety Stock
Calculates reorder points using lead time demand and safety stock buffers. Links service-level targets to statistical safety stock formulas.
Lesson 5 • Multi-Echelon Inventory Optimization
Extends single-location models to networks with warehouses and distribution centers. Optimizes total network inventory while preserving service levels at each node.

Chapter 4See details

Strategic Sourcing and Supplier Selection

Lesson 1 • Sourcing Strategy for Critical Categories
Develops single-source, dual-source, and multi-source strategies for strategic items. Balances leverage and continuity risk across the supplier base.
Lesson 2 • Spend Analysis and Category Strategy
Uses spend data to identify savings opportunities and define category priorities. Spend visibility is the starting point for every sourcing initiative.
Lesson 3 • Market Intelligence and Supplier Research
Gathers supply market data to understand cost drivers, capacity, and competitive dynamics. Market intelligence informs negotiation positions and risk assessments.
Lesson 4 • Supplier Evaluation and Selection
Applies weighted scorecards and total cost models to compare and select suppliers. Objective evaluation reduces bias and supports defensible award decisions.
Lesson 5 • RFx Process Design and Execution
Structures RFI, RFP, and RFQ documents to elicit comparable, actionable supplier responses. Well-designed RFx processes reduce evaluation time and improve award quality.

Chapter 5See details

Contract Management and Supplier Performance

Lesson 1 • Supplier Performance Monitoring
Establishes scorecards, review cadences, and escalation paths for underperforming suppliers. Consistent monitoring converts contract commitments into operational results.
Lesson 2 • Supplier Development and Collaboration
Moves beyond compliance monitoring to joint improvement programs with strategic suppliers. Collaborative relationships yield innovation, cost reduction, and resilience benefits.
Lesson 3 • Contract Structure and Key Clauses
Identifies essential contract elements including pricing, delivery, and liability terms. Understanding clause interactions prevents costly disputes and ambiguities.
Lesson 4 • Service Level Agreements and KPIs
Designs measurable SLAs and KPIs aligned to business outcomes and inventory targets. Clear metrics create accountability and enable objective performance reviews.
Lesson 5 • Contract Lifecycle Management
Manages contracts from award through renewal or termination to preserve value over time. Proactive lifecycle management prevents value leakage and supply disruptions.

Chapter 6See details

Procurement Operations and Process Excellence

Lesson 1 • Procurement Policy and Compliance
Defines approval thresholds, preferred supplier rules, and audit requirements. Clear policies reduce maverick spend and ensure consistent procurement behavior.
Lesson 2 • Procurement Technology and Automation
Evaluates e-procurement platforms, catalog management, and workflow automation tools. Technology selection is matched to process maturity and organizational scale.
Lesson 3 • Continuous Improvement in Procurement
Applies lean and process improvement tools to eliminate procurement waste systematically. Structured improvement cycles sustain gains and build a culture of efficiency.
Lesson 4 • Purchase-to-Pay Process Mapping
Documents current-state P2P workflows to identify bottlenecks and waste. Process maps are the foundation for redesign and automation decisions.
Lesson 5 • Procurement Performance Metrics
Defines and tracks cost savings, cycle time, and compliance KPIs for procurement operations. Metrics create accountability and guide continuous improvement priorities.

Chapter 7See details

Supply Chain Risk and Resilience

Lesson 1 • Supply Chain Disruption Response
Establishes crisis response protocols, communication trees, and recovery sequencing. Rapid, coordinated response minimizes financial and service-level impact.
Lesson 2 • Supply Chain Risk Identification
Catalogs demand, supply, operational, and external risk categories across the supply chain. Comprehensive risk identification precedes all mitigation and contingency planning.
Lesson 3 • Risk Assessment and Prioritization
Applies probability-impact matrices and spend exposure analysis to rank risks. Prioritization focuses mitigation resources on the highest-consequence vulnerabilities.
Lesson 4 • Building Long-Term Supply Resilience
Embeds resilience into network design, supplier relationships, and inventory policy. Resilience investments are evaluated against their cost and risk-reduction value.
Lesson 5 • Mitigation Strategies and Contingency Plans
Designs risk mitigation options including dual sourcing, buffer stock, and supplier audits. Contingency plans define response actions before disruptions occur.

Chapter 8See details

Advanced Analytics and Strategic Optimization

Lesson 1 • Data Analytics for Procurement Decisions
Uses descriptive and diagnostic analytics to uncover procurement spend patterns and inefficiencies. Analytics skills convert raw data into actionable sourcing and cost insights.
Lesson 2 • Strategic Procurement and Inventory Roadmap
Synthesizes course learning into a multi-year optimization roadmap aligned to business strategy. Students present integrated recommendations that balance cost, risk, and service.
Lesson 3 • Optimization Models and Simulation
Introduces linear programming and Monte Carlo simulation for supply chain optimization. Models quantify trade-offs and test policy changes before implementation.
Lesson 4 • Total Cost Modeling and Value Analysis
Builds comprehensive total cost models that capture hidden costs beyond purchase price. Value analysis identifies cost reduction opportunities without sacrificing quality.
Lesson 5 • Predictive Modeling for Inventory
Applies machine learning concepts and statistical models to predict demand and optimize stock. Predictive models reduce forecast error and improve replenishment precision.

Certification

Your valid completion certificate

This course is for you:

Procurement coordinators ready to move into strategic sourcing roles.
Inventory analysts who want to apply quantitative models at work.
Operations managers overseeing purchasing without formal procurement training.
Supply chain graduates bridging the gap between theory and practice.
Logistics professionals expanding their scope into upstream procurement decisions.
Career changers entering supply chain from finance or project management backgrounds.

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