Certificate in Inventory Fundamentals: Essentials for Success
-- ViewingNowThe Certificate in Inventory Fundamentals is a comprehensive course designed to provide learners with a solid understanding of inventory management. This course covers essential skills including demand forecasting, supply chain management, and inventory control techniques.
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โข Inventory Management Fundamentals: Understanding the basics of inventory management, its importance, and the role of an inventory manager.
โข Types of Inventory: Exploring different types of inventory such as raw materials, work-in-progress, finished goods, and maintenance, repair, and operating supplies (MRO).
โข Inventory Control Techniques: Learning about various inventory control techniques like Economic Order Quantity (EOQ), Just-In-Time (JIT), and First-In-First-Out (FIFO).
โข Inventory Valuation Methods: Familiarizing with inventory valuation methods like Specific Identification, Weighted Average Cost, and Last-In-First-Out (LIFO).
โข Inventory Costs: Understanding the different costs associated with inventory, including carrying costs, ordering costs, and stockout costs.
โข Inventory Analysis and Forecasting: Analyzing inventory data and forecasting future inventory needs using techniques like trend analysis, moving averages, and exponential smoothing.
โข Inventory Systems: Exploring different inventory systems like periodic inventory, perpetual inventory, and hybrid inventory systems.
โข Inventory Records Management: Learning about maintaining accurate inventory records, managing physical counts, and implementing cycle counting.
โข Supplier Relationship Management: Building and maintaining strong relationships with suppliers to ensure timely delivery of goods and services.
โข Technology in Inventory Management: Utilizing inventory management software, barcode scanning, and other technologies to automate and streamline inventory processes.
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