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

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