Inventory Course

Lesson 1 • Types of Inventory

Classifies raw materials, WIP, finished goods, and MRO stock. Connects each type to its operational function.

Lesson 2 • Stakeholders and Organizational Roles

Maps the people and departments involved in inventory decisions. Clarifies accountability and communication flows.

Lesson 3 • Inventory Costs and Trade-offs

Identifies holding, ordering, and shortage costs. Shows how cost trade-offs drive inventory decisions.

Lesson 4 • Key Performance Indicators

Introduces metrics used to evaluate inventory health. Provides a baseline for measuring improvement throughout the course.

Lesson 1 • Qualitative Forecasting Methods

Covers expert judgment, market surveys, and Delphi technique. Used when historical data is limited or unreliable.

Lesson 2 • Forecast Accuracy Measurement

Teaches MAD, MAPE, and bias metrics to evaluate forecast quality. Accurate measurement drives continuous model improvement.

Lesson 3 • Quantitative Forecasting Methods

Applies moving averages, exponential smoothing, and regression. Builds computational skills using historical sales data.

Lesson 4 • Collaborative Forecasting Practices

Introduces CPFR and cross-functional demand review processes. Aligns forecasts with sales, marketing, and supplier inputs.

Lesson 1 • Economic Order Quantity Model

Derives and applies the EOQ formula to minimize total ordering and holding costs. Introduces assumptions and limitations of the model.

Lesson 2 • Safety Stock Calculation

Quantifies safety stock needed to buffer demand and lead time variability. Links safety stock levels to desired service levels.

Lesson 3 • Periodic Review Systems

Covers fixed-interval ordering and target stock level calculations. Suitable for items ordered on a scheduled cycle.

Lesson 4 • Reorder Point Fundamentals

Calculates reorder points using lead time and demand rate. Establishes the trigger mechanism for replenishment decisions.

Lesson 1 • XYZ Demand Variability Analysis

Classifies items by demand predictability using coefficient of variation. Complements ABC by adding a demand stability dimension.

Lesson 2 • Criticality and Risk-Based Classification

Adds a criticality dimension for items whose stockout causes operational shutdown. Ensures life-critical or production-critical items receive special handling.

Lesson 3 • Combined ABC-XYZ Matrix

Merges ABC and XYZ results into a nine-cell matrix for nuanced policy setting. Enables differentiated replenishment and safety stock strategies.

Lesson 4 • ABC Analysis Methodology

Segments inventory by annual consumption value into A, B, and C categories. Directs management attention and control intensity accordingly.

Lesson 1 • Cycle Counting Programs

Designs and executes cycle count schedules to maintain record accuracy. Replaces disruptive annual physical counts with continuous verification.

Lesson 2 • Inventory Record Accuracy

Measures and improves inventory record accuracy rates. High accuracy is the foundation for reliable replenishment and reporting.

Lesson 3 • Receiving and Put-Away Processes

Details steps for inspecting, recording, and storing incoming stock. Accurate receiving prevents downstream inventory discrepancies.

Lesson 4 • Warehouse Layout and Slotting

Covers storage zone design, slotting logic, and pick-path optimization. Efficient layout reduces travel time and handling errors.

Lesson 1 • Inventory Management Software

Surveys standalone inventory systems and ERP inventory modules. Teaches key features to evaluate when selecting a platform.

Lesson 2 • Data Integration and Visibility

Connects inventory systems to procurement, sales, and finance data. End-to-end visibility enables faster, more accurate decisions.

Lesson 3 • Barcode and Scanning Systems

Explains barcode symbologies, scanners, and data capture workflows. Scanning automates data entry and reduces manual recording errors.

Lesson 4 • RFID Technology in Inventory

Covers RFID tag types, readers, and real-time tracking capabilities. Enables hands-free, bulk scanning for high-volume environments.

Lesson 1 • Postponement and Delayed Differentiation

Defers product customization to reduce finished goods variety risk. Lowers obsolescence while maintaining responsiveness to demand.

Lesson 2 • Vendor-Managed Inventory Programs

Transfers replenishment responsibility to suppliers using shared data. Reduces buyer workload and aligns supplier incentives with stock availability.

Lesson 3 • Multi-Echelon Inventory Optimization

Optimizes stock across multiple distribution tiers simultaneously. Reduces total system inventory while preserving fill rates at each level.

Lesson 4 • Just-in-Time Inventory Approach

Explains JIT principles, supplier alignment, and risk considerations. Balances minimal stock levels against supply disruption vulnerability.

Lesson 1 • Aligning Inventory Policy with Business Strategy

Links inventory targets to customer service, cost, and growth objectives. Ensures inventory decisions support overall organizational strategy.

Lesson 2 • Financial Inventory Valuation

Applies FIFO, LIFO, and weighted average costing to value stock. Connects inventory valuation to financial statements and profitability.

Lesson 3 • Obsolete and Excess Inventory Management

Identifies, quantifies, and disposes of slow-moving and obsolete stock. Frees capital and warehouse space tied up in non-productive inventory.

Lesson 4 • Inventory Audits and Compliance

Plans and executes internal inventory audits to verify accuracy and policy adherence. Identifies control gaps and supports regulatory compliance.