Course Outline
The course will introduce the scientific study of inventory theory and inventory management. It will present the bull-whip effect as an example of discrete independent decisions by organisations along a supply chain. Students will develop an awareness of the software packages available to manage inventory.
Course Objectives:
- Introduction to inventory theory
- EOQ model and derivation
- Alternative ordering models with known and random demand
- MRP2 systems and inventory record accuracy
- Safety stock and customer service
- JIT – push versus pull systems
- Cycle counting and inventory record accuracy
- Evaluation of inventory management software systems
Learning Outcomes
On completion students will be able to derive the EOQ formula, assess requirements for inventory software packages, cycle counting and inventory record accuracy. They will also understand MRP2 requirements.
Duration
1 Day in Melbourne
Delivery Mode
Classroom
Pre-Requisites
Students need to have completed a course in introductory logistics and statistics.
Fees
On Application
Commencement Dates
On application
Location:
Course Contact:
Dr. David Wilson
http://masterresearch.com.au
+61 419 374 776
