Fundamentals of Inventory Control

Participants are introduced to essential vocabulary and skills in identifying and applying the basic principles of inventory management. Basic methods of planning and controlling inventory in manufacturing, institutional, distribution, and retail environments are covered. The questions of what to stock are addressed through an examination of current and evolving technologies of inventory management.

Topics include:

• Fundamentals of Inventory Management

• Inventory Functions

• Order Quantities

• Perpetual Inventory Systems

• Periodic Inventory Systems

• Forecasting

• Mid-term Examination & Case Study Presentations

• Warehouse Mgmt & Distribution Requirements Planning

• Inventory Record Accuracy, Supply Chain Mgmt, Aggregate Inventory, & Purchasing

• JIT & TQM, Trend in Inventory Management

• Case Study & Final Examination Review