Inventory and Material Management Professional

Overview
Curriculum
Instructor

Inventory and Material Management Professional course aims to equip you with a comprehensive understanding of the principles, strategies, and tools necessary to effectively manage inventory and materials within an organization, ultimately contributing to improved operational efficiency and cost savings. Here’s a general outline of what this course might cover:

Learning objectives
In this course, you will learn:

Inventory and materials management techniques.
Inventory valuation and optimization.
Concepts of Material Requirement Planning (MRP).
Measuring and evaluating inventory performance.
Apply lean principles to inventory and material management.
Team leadership and collaboration.

UNIT 1
Introduction to Inventory Management

Lesson 1: Definition and importance of inventory management
Lesson 2: Objectives and goals of inventory management
Lesson 3: Types of inventories: raw materials, work-in-progress, finished goods, MRO (maintenance, repair, and operations), etc.
Key terminology and concepts

UNIT 2
Inventory Planning and Forecasting

Lesson 1: Forecasting methods: qualitative, quantitative, and time series analysis
Lesson 2: Demand forecasting techniques
Lesson 3: Inventory control models: EOQ (economic order quantity), ABC analysis, JIT (just-in-time), etc.
Lesson 4: Inventory planning strategies: safety stock, reorder points, lead time management

UNIT 3
Inventory Optimization

Lesson 1: Inventory turnover ratio and its significance.
Lesson 2: Inventory carrying costs
Lesson 3: Minimizing holding costs and stockouts
Lesson 4: Vendor-managed inventory (VMI) and consignment inventory
Cross-docking and dropshipping

UNIT 4
Inventory Management Systems

Lesson 1: Introduction to inventory management software.
Lesson 2: Features and functionalities of popular inventory management systems
Lesson 3: Implementation and integration considerations
Lesson 4: Warehouse management systems (WMS) and their role in inventory control

UNIT 5
Materials Management

Lesson 1: Material planning and procurement.
Lesson 2: Supplier selection and evaluation
Lesson 3: Negotiation tactics and contracts management
Inventory valuation methods (FIFO, LIFO, weighted average)

UNIT 6
Risk Management and Compliance

Lesson 1: Inventory risk assessment.
Lesson 2: Regulatory compliance (e.g., FDA regulations for pharmaceutical inventory)
Lesson 3: Inventory security and loss prevention
Lesson 4: Business continuity planning for inventory disruptions

UNIT 7
Performance Measurement and Continuous Improvement

Lesson 1: Key performance indicators (KPIs) for inventory management
Inventory audit and reconciliation processes.
Lesson 3: Lean inventory management principles
Lesson 4: Six Sigma and DMAIC (Define, Measure, Analyze, Improve, Control) methodology for process improvement

UNIT 8
Project Management for ERP Implementations

Lesson 1: Project planning, scoping, and resource allocation.
Lesson 2: Execution and monitoring of ERP implementation projects.
Lesson 3: Risk management and issue resolution
Lesson 4: Post-implementation evaluation and continuous improvement

UNIT 9
Final Project or Capstone

Lesson 1: Application of knowledge and skills acquired throughout the course.
Lesson 2: Planning and executing a mock ERP implementation project.
Lesson 3: Presentation of findings and recommendations.

UNIT 10
Certification Exam Preparation

Lesson 1: Review of key concepts covered in the course.
Lesson 2: Practice exams and quizzes.
Lesson 3: Exam-taking strategies and tips.
Conclusion
Exam

Page Title InvexERP-ExcellentBridge Certified Experts

This course includes:

Page Title

    Duration: 10 Weeks

      Skill Level: Professional

      Language: English

    Units: 8

    Price: ₦250,000

Book your certification exam

If you are already an InvexERP user, you can validate your skills by completing the certification
exam and gain a highly recognized accreditation.

Certification

Inventory and Material Management Professional

This certification verifies that the candidate has the knowledge required in the area of Inventory and Material Management Professional. It validates ExcellentBridge Certification and attests to its skills and expertise as a solid foundation for a career as an Inventory and Material Management Professional.