This Inventory Management course provides a complete guide to understanding how businesses control and optimize their inventory. The course begins with core inventory concepts, including the different types of inventory and the key costs associated with inventory management. Learners will explore important inventory models such as Economic Order Quantity (EOQ), which helps determine the optimal order size to minimize total inventory costs. The course also explains Reorder Point (ROP), enabling businesses to know exactly when to replenish stock to avoid shortages. In addition, participants will learn about Economic Production Quantity (EPQ), which focuses on optimizing production order quantities for manufacturers. The course also covers the Quantity Discount Model, helping organizations evaluate purchasing strategies that reduce costs. Another important topic is ABC Analysis, a widely used inventory classification method that categorizes products based on their importance and value, allowing businesses to prioritize inventory control. Learners will also understand the difference between physical inventory counts and cycle counting methods used to maintain accurate stock records. By the end of this course, students will gain practical knowledge and analytical tools needed to improve inventory efficiency, reduce operational costs, and support better supply chain decision-making.
