This Inventory Management course focuses on key quantitative models used to optimize stock levels and reduce costs in supply chain operations. It is designed for beginners and students who want to understand how inventory decisions are made in real business environments.
The course begins with the Economic Order Quantity (EOQ) model, which helps determine the optimal order quantity that minimizes total inventory costs, including ordering and holding costs. You will learn how businesses use EOQ to balance efficiency and cost control.
Next, the course explains the Reorder Point (ROP), which determines when a company should place a new order to avoid stockouts and maintain continuous operations.
The EPQ (Economic Production Quantity) model is also covered, showing how production quantities are optimized when goods are produced internally instead of purchased.
Another important topic is the Quantity Discount Model, which explains how bulk purchasing discounts affect total inventory costs and purchasing decisions.
Finally, the course introduces ABC analysis, a classification method that categorizes inventory based on importance and value to help prioritize management efforts.
By the end of this course, you will understand essential inventory optimization techniques used in modern supply chain and operations management.
