Inventory Management

Course details

Inventory management involves ordering, storing, and using a company's inventory, including managing raw materials, components and finished products and warehousing and handling such items. For organisations with complex supply chains and manufacturing processes, balancing the risks of inventory gluts and shortages is especially tricky.

Without an efficient program of control over parts and materials used in the production and distribution of products and services in the organisation, a business can not possibly hold on very long in this current market. "Control" means various things to various people, which depends on human execution. Therefore, an efficient and well-structured individual is crucial for an organisation in leading the Inventory Management department.

In our Inventory Management course, the learner will understand what inventory management is, every aspect of inventory management, a firm grasp of the inventory cycle, setting up a warehouse, how to manage inventory accuracy, recognising demand, the receiving process, validating inventory, the inhume process, preserving inventory, keeping tabs on the latest trends and so on.

After completing our Inventory Management course, you will achieve a higher level of professionalism while building up your knowledge from scratch. Broad knowledge of inventory management, risk minimising countermeasures in the warehouse, the importance of calculating safety stock, reorder points and order quantities and so on.

Learning outcomes

By the end of this Inventory Management you will be able to learn:

What inventory management is
Frequently used terms in warehouse management
Setting up goals and targets for inventory management 
Analysing your progress towards your goal and targets
How to calculate safety rock, reorder points and order quantities
How to assess inventory management systems
Recognising the parts of the inventory cycle 
How to maintain a consistent inventory accuracy 

Study Crusie Highlights

By doing our Inventory Management Course you will be able to get:

24/7 access to the course for lifetime
High-quality e-learning study materials
Efficient exam system, assessment and instant results
The UK and globally prestigious certification
Developed by qualified professionals with updated resources
Get Hardcopy certificate With FREE SHIPPING
Available to students anywhere in the world

Course Curriculum

Our Inventory Management course is broken down into 13 flexible lessons, which we believe will help you to easily get the knowledge of each concept - from the fundamentals to the most advanced aspects of this skill. If you want to kickstart your career with the right knowledge of the industry, then this is a sure way to success.

This Inventory Management course is designed with the following modules:

Module 01: What Is Inventory?
Our first module will cover the definition of inventory and its significance in warehouse management.  

Module 02: Types of Inventory
In our second module, we will cover various types of inventory and classes of ;

Module 03: Key Players 
Our third module will cover identifying the key players, such as customers' role, cost reduction, hiring and training staff, and so ;

Module 04: Setting up the Warehouse
Our fourth module will cover a brief description of the objectives and maintain a reasonable location accuracy.

Module 05: What Makes a Good Inventory Management System?
In the fifth module, we will cover how to construct an efficient inventory management system.

Module 06: The Warehouse Inventory Cycle
The sixth module will cover different inventory stages and how to put through products efficiently.

Module 07: Identifying Demand 
In the seventh module, we will cover explain some fundamental formulas.
 
Module 08: The Receiving Process
In the eighth module, we will cover the receiving process of warehouse ;

Module 09: Validating Inventory 
In the ninth module, we will cover properly validating inventory and its impact on inventory ;

Module 10: The Put-Away Process
In the tenth module, we will cover the put-away process, which focuses on minimising travel time, ensuring correct placement,  necessary security requirements, etc.

Module 11: Maintaining Inventory Accuracy
In the eleventh module, we will cover the degree of control, inventory of control methods and product identification methods.

Module 12: The Outbound Process
In the twelfth module, we will cover the outbound process, such as the picking process, packing process, loading and shipping process.

Module 13: Industry Trends
In the thirteenth and final module, we will cover keeping up to date with industry trends such as cross-ducking, online access and so on.

Assessment

After finishing the course thoroughly, you will need to pass an automated, multiple-choice questions exam, which will give you the immediate result once you complete the test. To make the deal sweeter, we offer you all of these in a one-time payment!
  Updated on 04 March, 2022