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Learn to minimize costs, Improve efficiency using Inventory control technique like EOQ and Safety Stock
As famously said by warren buffet 'Cash is King'.
Inventory mismanagement is the biggest reason behind low cash flow in a business.
This MBA-style course will turbo-charge your career and will make a REAL difference in your supply chain and retail business.
To run business operations every organization need to optimize its Inventory management so that it can reduce cost and make use of all its resources.
It is crucial for you to learn the steps required to make Inventory management part of your supply chain integration and procurement process. Also, one of the biggest problems you will face in any organization is the lack of proper inventory planning and controlling the flow of materials.
1. Inventory basics and Optimization
What is Inventory Management
Types of Inventory Management
How much stock we should have
Cost in Inventory Management
Keywords in Inventory Management
Cost of Inventory
2. Safety Stock, Economic order quantity, and Lead time
Types of Safety Stock Techniques
Safety stock and Reorder point
Service level on safety stock
How to Reduce Safety stock
Economic Order Quantity
EOQ backorder, reorder point
3. Introduction to statistics
Mean, Mode and Median
Standard deviation and variance
Standard Normal distribution
King's or normal distribution of Safety stock
Normal distribution with lead time and demand variation
Problems with ABC Analysis
Introduction to ABC - XYZ Inventory Optimization
4. Inventory finance and accounting
Introduction to retail finance
Income statement and cash flow statement
Introduction to asset and margin management
The strategic profit model in retail
Walmart and Tiffany's financial statement