Fundamentals of Inventory Management and Control, Third Edition

 Fundamentals of Inventory Management and Control, Third Edition

Author: Max Muller
Credit: 2.0 CEUs
Testing Format: multiple choice
Your Price: $159.00
ISBN: 9780761213505
Format: Book



Overview

Effective inventory management is key to an efficient organization.

Effective inventory management plays a crucial role in the smooth and efficient running of any organization. Reducing excess inventory and investing in the right inventories leads to better customer service, better inventory turnover—and a healthier bottom line.

Fundamentals of Inventory Management and Control, Third Edition will equip you with the fundamental tools and techniques you need to analyze and control inventory—from cost-cutting techniques to day-to-day management and the latest developments in inventory handling, including the basics of JIT and lean manufacturing.

Course Objective: Purchase, plan, manage, and control inventories and materials.

Selected Learning Objectives

• Purchase, plan, manage, and control inventories and materials

• Evaluate inventory methods, make improvements to your current system, determine optimum inventory levels, design and implement a cycle-counting program, and analyze replenishment policies

• Reduce excess inventory and invest in the right inventories for better customer service, better investment turnover—and greater profits

• Calculate optimal order quantities for such special cases as quantity discounts and price increases

• Locate your minimum-total-cost point, control inventory loss, and determine ideal safety stock levels

• Answer the question: What is the real cost of being out-of-stock?