Inventory Management A-Z: Supply Chain & Business Operations
Inventory Management Basics: MBA beginners course to your optimize your Purchasing, Logistics, EOQ and Safety Stock
4.60 (5578 reviews)
23 948
students
3.5 hours
content
Dec 2024
last update
$84.99
regular price
What you will learn
Become the Inventory Guru in your team! Master this essential area of Supply Chain Management
Gain a total overview of Inventory Management for your Manufacturing or Service business
Little's Law - calculate required inventory using Little's Law
Economic Order Quantity - formula to calculate how much to order
Price Break Model - advanced EOQ when prices vary with order quantity
Inventory Dynamics - how to study inventory levels over time to make better decisions
ABC Analysis - classify and group your inventory to prioritise attention
Performance Metrics - use the essential KPIs to keep your "finger on the pulse"
Safety Stock level calculations - simple method and using statistics modelling step by step
Increase profitability, improve delivery and use your resources more efficiently
Boost your career: increase your confidence to see and lead change , impress your own boss and become a better manager
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Our Verdict
As an instructor, Laurence delivers a solid foundational course in Inventory Management A-Z, striking a balance between theory and practical examples. While minor calculation errors and the need for more complex case studies slightly detract from the overall experience, the well-structured content, engaging teaching style, and valuable quizzes make this an excellent starting point for beginners seeking to understand inventory management basics. The course's strengths in connecting high-level concepts with real-life applications allow learners to grasp critical principles effectively, establishing a solid foundation for further learning and exploration.
What We Liked
- Comprehensive high-level introduction to Inventory Management (IM) with real-life examples, suitable for both beginners and those looking to refresh their knowledge.
- Well-structured course covering key concepts such as Little's Law, Economic Order Quantity, ABC Analysis, Performance Metrics, Safety Stock level calculations, and more.
- The instructor effectively connects theoretical concepts with practical examples, making the learning process enjoyable and engaging.
- Includes valuable quizzes that help reinforce understanding of different inventory management concepts
Potential Drawbacks
- A few minor calculation errors were noticeable but not significant enough to detract from the overall learning experience.
- The course could benefit from more complex real-world case studies and practical templates for better application of theoretical knowledge.
- Limited focus on operational aspects of inventory management that might be crucial in some industries.
- Additional visual elements, such as real-world dashboards and tool examples, would enhance understanding.
Related Topics
3568257
udemy ID
14/10/2020
course created date
18/11/2020
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