Inventory and Material Management Professional

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.
    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

    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

    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

    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

    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)

    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

    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

    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

    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.

    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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      InvexERP-ExcellentBridge Certified Experts

  This course includes:

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     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.

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.

InvexERP Certification Preparatory Group

Join our ExcellentBridge Certification preparatory Group to collaborate with other learners and establish your learning journey.

InvexERP Certification Preparatory Group

Join our ExcellentBridge Certification preparatory Group to collaborate with other learners and establish your learning journey.