Description
In this course, you will delve into the fundamental principles of Inventory Management, covering topics such as Ordering Costs related to Inventory, Carrying Costs of Inventory, Economic Order Quantity (EOQ) with practical examples, and techniques for calculating the Reorder Point. Additionally, you will explore the intricacies of Material Requirements Planning (MRP) Systems, gaining insights into its application for efficient inventory control. The course will also provide a comprehensive understanding of the Just In Time (JIT) Inventory System and its significance in minimizing waste and optimizing production processes. Finally, you will touch upon the role of Enterprise Resource Planning (ERP) in streamlining inventory management within an organization. By the end of this course, you will have acquired a robust knowledge base to effectively navigate and optimize inventory processes in various business settings.
