Inventory Control and Inventory Management Complete Course

Inventory Control

Inventory Management

Material Management

inventory problems and selective inventory management

Static Inventory Problem under Risk

Static Inventory Problem under uncertainty

Dynamic Inventory Problems under Certainty

Dynamic Inventory Problems under risk

MRP, MRP 2 AND DRP

JIT

Kanban

Purchasing Management

Value Eeering/Analysis and Stores Management

Logistics and Supply Chain Management

A-B-C Analysis

Q-system of Inventory Control, P- system of Inventory Control

EOQ & EQP

Lots of examples and scenarios

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Eager to learn Inventory Control & Inventory Management

Inventory control is the process of keeping the right number of parts and products in stock to avoid shortages, overstocks, and other costly problems.

Inventory control focuses on cutting the number of slow-selling products a company purchases while also increasing the number of high-selling products. This saves businesses and money because they don't have to spend lots of man-hours reordering and receiving goods that they don't really need. Plus, they avoid devoting precious warehouse space to hold those products, which cuts down on carrying costs and affords more room for faster-selling products.

By using inventory control, you are able to protect against making rash decisions and you also avoid the pain and expense that come from overstocking on inventory. As its name suggests, inventory control helps you maintain control over your inventory levels so that you make the best use of your resources and avoid product spoilage and obsolescence.

The ultimate goal of your inventory control should be to maximize your organization's use of inventory. When you maintain proper inventory levels, you can rest easily knowing that your capital is not unnecessarily tied up in your inventory. If you are in manufacturing, inventory control also protects production if there are problems with bottlenecking or the supply chain.

Typical benefits of a computerized inventory control system include.

Increased profitability

Having enough stock on hand so that you don't run out

Barcodes and inventory control labels to track inventory efficiently

Reduction or elimination of inventory write-offs

The ability to conduct audits more quickly and efficiently

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