Advanced Inventory Management

Course Summary

Course Provider

Course Type

Key Knowledge Areas
6, 7

Professional Sector Relevance

15

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Course Outline

This course is based around Robert Brown’s text “Advanced Spare Parts Inventory Control”. It uses his methods of forecasting demand – exponential smoothing and Fourier series methods – to capture periodicity and introduce the use of tracking signals. Requires advanced knowledge of mathematical tools and Excel proficiency. Students are encouraged to bring their data for analysis and case studies.

Course Objectives:

  1. Models of inventory
  2. Spare parts inventory management
  3. Infrequent or rare demand – measurement
  4. Strategies to cope with rare events – case studies from defence and mining
  5. The IBM approach – history – and now

Duration

The course is taught over 2 days with a hands-on – practical approach. Students need to bring their lap tops plus data for analysis.

Delivery Mode

Classroom

Pre-requisites

Students need to have an understanding of applied statistics and supply chain management. A basic course in inventory management would be a distinct advantage.

Fees

On Application

Commencement Dates 

On application

Location:

Course Contact:

Dr. David Wilson
http://masterresearch.com.au
+61 419 374 776