Inventory Management Course

Lesson 1 • Inventory Management Objectives

Aligns inventory goals with broader supply chain and financial targets. Students can articulate measurable objectives for any inventory system.

Lesson 2 • What Inventory Management Means

Defines inventory management and its strategic importance across industries. Establishes shared vocabulary used throughout the course.

Lesson 3 • Core Inventory Metrics

Introduces turnover ratio, days on hand, and fill rate as baseline performance indicators. Provides formulas and simple calculation practice.

Lesson 4 • Inventory Costs and Trade-offs

Breaks down holding, ordering, and shortage costs. Shows how balancing these costs drives every inventory decision.

Lesson 1 • Causal and Regression Forecasting

Uses independent variables such as price and promotions to predict demand via regression. Builds on time-series skills to handle external drivers.

Lesson 2 • Demand Patterns and Data Analysis

Identifies trend, seasonal, cyclical, and irregular demand patterns. Teaches data cleaning and visualisation as prerequisites for accurate forecasting.

Lesson 3 • Qualitative Forecasting Methods

Covers expert judgment, Delphi method, and market surveys for new or data-scarce products. Explains when qualitative approaches outperform quantitative ones.

Lesson 4 • Forecast Accuracy and Error Measurement

Calculates MAD, MAPE, and bias to evaluate and improve forecast models. Connects accuracy metrics to safety stock and replenishment decisions.

Lesson 1 • XYZ and Demand Variability Analysis

Segments items by demand variability using coefficient of variation. Combines with ABC to create a matrix for nuanced replenishment strategies.

Lesson 2 • ABC Analysis Fundamentals

Ranks items by annual consumption value to identify A, B, and C categories. Demonstrates how classification drives differentiated control policies.

Lesson 3 • Slow-Moving and Obsolete Inventory

Identifies SLOB items using turnover thresholds and ageing reports. Develops disposal, markdown, and prevention strategies to protect working capital.

Lesson 4 • Multi-Criteria Segmentation

Combines cost, criticality, lead time, and substitutability into a composite score. Produces actionable segments for complex, real-world portfolios.

Lesson 1 • Special Replenishment Scenarios

Addresses min-max systems, two-bin methods, and vendor-managed inventory. Extends core models to practical warehouse and retail environments.

Lesson 2 • Economic Order Quantity Model

Derives the EOQ formula and applies it to minimise total ordering and holding costs. Covers assumptions, limitations, and sensitivity analysis.

Lesson 3 • Reorder Point and Lead Time

Calculates reorder points using average demand and lead time. Introduces variability as the driver of safety stock requirements.

Lesson 4 • Periodic Review Systems

Explains the fixed-interval order-up-to model as an alternative to continuous review. Compares P and Q systems across different operational contexts.

Lesson 1 • Shrinkage, Damage, and Loss Prevention

Quantifies shrinkage from theft, damage, and administrative error. Implements physical and procedural controls to protect inventory value.

Lesson 2 • Cycle Counting and Physical Inventory

Designs cycle count programmes to maintain accuracy without full shutdowns. Compares cycle counting to annual physical inventory on cost and disruption.

Lesson 3 • Warehouse Layout and Storage Design

Applies slotting principles and storage methods to maximise space and picking speed. Connects physical layout decisions to inventory accuracy and labour cost.

Lesson 4 • Receiving and Put-Away Processes

Establishes procedures for inspecting, recording, and storing incoming stock. Errors at receiving propagate through the entire inventory system.

Lesson 1 • Inventory Modules in ERP Systems

Navigates inventory-related modules within enterprise resource planning platforms. Covers master data setup, transaction types, and reporting capabilities.

Lesson 2 • Warehouse Management Systems

Explains WMS core modules including receiving, putaway, picking, and reporting. Shows how WMS integration with ERP eliminates manual data entry.

Lesson 3 • IoT and Real-Time Inventory Visibility

Applies connected sensors and smart shelves to achieve continuous stock monitoring. Builds on RFID knowledge to explore broader IoT applications.

Lesson 4 • Data Analytics for Inventory Decisions

Uses descriptive and predictive analytics to identify trends, anomalies, and opportunities. Connects analytical outputs to replenishment and classification decisions.

Lesson 1 • Multi-Echelon Inventory Optimisation

Allocates safety stock across distribution centres and retail locations simultaneously. Reduces total system inventory while maintaining target service levels.

Lesson 2 • Supplier Relationship and Lead Time Management

Reduces lead time variability through supplier development and performance monitoring. Shorter, more reliable lead times directly lower safety stock requirements.

Lesson 3 • Collaborative Replenishment Programmes

Implements VMI, CPFR, and consignment models to synchronise supply with demand. Explains data sharing requirements and governance for each model.

Lesson 4 • Inventory Across the Supply Chain

Maps inventory positions from raw material suppliers to end customers. Reveals how upstream and downstream decisions affect total system inventory.

Lesson 1 • Lean Inventory and Waste Reduction

Applies lean principles to eliminate excess inventory as a form of waste. Connects just-in-time philosophy to practical pull-system implementation.

Lesson 2 • Inventory Performance Dashboards and KPIs

Designs executive-level dashboards that track inventory health across the organisation. Selects KPIs aligned with strategic goals and drives accountability.

Lesson 3 • Inventory Risk Management

Identifies supply disruption, demand shock, and obsolescence risks in inventory portfolios. Builds mitigation strategies including buffer stock and supply diversification.

Lesson 4 • Working Capital and Cash Flow Impact

Quantifies how inventory reduction frees cash and improves return on assets. Connects inventory decisions to balance sheet and income statement outcomes.