Inventory Management and Economic Order Quantity

This two-week course will teach you key concepts about inventory, including classifications, costs, and their benefits. The ABC analysis will be covered and how it can aid in inventory management. The Economic Order Quantity (EOQ), a method that reduces inventory costs, such as order costs and holding cost, will be helpful. The bullwhip effect and the EOQ concept will be discussed. The bullwhip effect is a way to reduce the negative effects it can have on your supply chain. You will be able to analyse the drivers and the results. Vendor Managed Inventory will be covered as well as the Efficient Customer Response (ECR). They will be discussed in detail and you'll learn how to create a customer-oriented approach to your supply chains. You will be able to use inventory management techniques to improve your supply chain and achieve the best results.