Procurement and Supply Chain Management

Course Title:

Inventory Management

Course code:

PBSC512

Description 

Inventory control concepts, techniques, and strategies for effective integration with basic finance, marketing, and manufacturing objectives are topics covered in this course. 

Models for dependent and independent demand inventory systems, material requirements planning systems, distribution requirements, planning techniques, and the classical reorder point inventory model are also included.

Learning outcomes:

By end of this course the students will be able to:

1. Explain the concept of term inventory and inventory management functions and principles within organizations.
2. Illustrate the skills, requirements and approaches of inventory managers to maintain a strategic capacity level, effective inventory management and inventory system operations protection.
3. Apply different Inventory Control and planning policies, models and approaches.
4. Describe of the nature of inventory quality and the inventory system quality measures and tools to fix the system.

Content:

1. The Nature and Importance of inventory and Inventory Management
2. The Financial aspects of inventory
3. Inventory system setup
4. Inventory measures
5. Inventory planning
6. Inventory system controlling and protection

Required reading material:

Max Muller (2003), Essentials of Inventory Management, 1st edition