This course covers the principles, concepts, and techniques for planning and controlling inventory at all stages of manufacturing and distribution.  You will also learn methods that experts use to establish and inventory management plan that is actionable, enforceable, and measurable.  Techniques for effectively implementing your plan will be discussed.  Inventory performance measurement methodologies are explained in the contexts of enterprise goals.  You will understand accounting controls as well as physical control systems.  Technologies of inventory tracking and materials handling will be discussed.  The role of inventory valuing systems, JIT inventory management, and techniques for calculating safety stock requirements will receive particular attention.  The student will be able to differentiate among types of inventory, perform ABC inventory analysis, employ alternative costing methods often used for inventory accounting, run inventory replenishment systems and determine reorder points, make order quantity decisions, determine optimum levels of stock and prepare for uncertainty, and perform distribution resource planning. 

Topics Include:

• Inventory management overview
• Accounting and control of inventory
• Inventory replenishment systems
• Determination of order quantity
• Dealing with uncertainty
• Environments, additional models, and just-in-time
• Distribution inventories
• Distribution inventory planning and control