• views: 85
• date: 23 March 2025
• posted by: voska89

Business management

What you'll learn

Calculating econmic order quantities
Using probability to determine optimal stock amounts
The importance of forecasting
Calculating reorder levels
How to set up a safety stock
Using lead time to determine when to place orders
Calculating the size of orders
The importance of inventory management
How supply chain management play an important role
How to use reorder costs
How to use holding costs
Calculating optimal cost points for the inventory

Requirements

Basic understanding of economics
Basic understanding of business/shop operations
Basic understanding of math

Description

This course 'Inventory management' is based towards students who are interested in taking control of their budgets, revenues, cost and inventory.If you want to know how you can use inventory manangement to improve your business, then this course is for you.Together we will discuss all the elements needed to set up some form of inventory manangement and how to use specific data to compare it to costs, profit and customer satisfaction. And how to interpret the results, so you'll make better decisions. We discuss simple ways to implement it and make it more complex, step by step.By the end of this course you will have a solid foundation and understanding of inventory manangement. This allows you to take control of your budget and fine tune it. You'll know how to pinpoint the problems in your stock and therefor find solutions to decrease expenses, increase profits and have a better balance in sales and shortages.You will learn how to use important techniques that will help you better manage your stock. You'll learn what Economic order quantity, reorder level, safety stock, total optimal cost, marginal analysis, probabilities and the uncertainty of demand and how to get the best out of basic data.

Who this course is for

Beginners
Business owners
Store managers
Homepage:

https://www.udemy.com/course/inventory-management-l/

   
   
   

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