Business Inventory Control
Inventory health, components of inventory cost, inventory inefficiencies, inventory audit and cycle counts etc.
3.55 (21 reviews)
64
students
1.5 hours
content
Oct 2023
last update
$27.99
regular price
What you will learn
Learn inventory control concept
Learn component of inventory control
Inventory audits and cycle counts
Factors leading to inventory inefficiencies
Operational challenges in inventory management
Lean about inventory health
Inventory turnover as indicator of inventory health
Good inventory control practices
Why take this course?
Inventory control is very important part of organization role in ensuring that their inventory is controlled and management successfully in their business operations, the need for successful inventory control is very important for the health of the business. It is very important for companies to deeply understand the inventory control and management concept, and understand why and when to avoid holding inventories in the organization.
Good companies are very serious with their inventory control systems, any companies that want to be a market leader cannot joke with their inventory control and management systems because a lot of the firms don't take serious control about their inventory and its affect them in the long around, it better for management to see inventory issues as a very important one and management it a such.
We all must understand the components that constitute the inventory control such as ordering cost and carry cost that play a very significant role in the organisation and their inventory cost. Firms must also understand the inventory control audits and cycles counts to ensure a very good and successful inventory.
Having a good inventory health in the firm is very important, some of the key factors to be considered to avoid inventory mismatch such as system issues, system discipline etc.
Content
Introduction
Introduction
Inventory control management- introduction
Inventory control management concept
Need for inventory control-Why do companies hold inventory
Finished goods inventory
Why and when to avoid holding inventory
Types of inventory
Components Of Inventory Control
Ordering cost
Carry cost
Inventory Control- Inventory Audits And Cycle Counts
Cycle counts
How the audits process work
Factors Leading To Inventory Inefficiencies
System Setup
Factors Affecting Inventory Operations
Unskilled Labor and staff
Inadequate SOP, training and emphasis on processes compliance
Operational Challenges In Inventory Management
Established and outline operations process for service providers
Establish inventory visibility at each of the location through mis reporting
Quarterly inventory
Inventory Health- Important Factor To Consider In Avoiding Inventory Mismatch
System Issues
System discipline required
System inventory should match with physical inventory
Inventory Turnover As Indicator Of Health Of Inventory Control Business
The inventory turnover as a measure of health
Health of inventory operation
Good Inventory Control Management Practices
Review inventory periodically and revise stocking patterns and norms
Get into detailed inventory planning- one sizes does not fit all
Study demand patterns
Screenshots
Reviews
Eratum
March 7, 2022
Inventory department must ensure that there are skill labor that can facilitate quick business and make sure that supply is than on time and according to the demands of the customers.
Kasper
January 22, 2022
Greater inventory controlin organization ensure a consistent and committed supply of goods and services because every thing is in order and working according to plan in the organization.
Owusu
July 14, 2021
l thing l have study in this course about this course content and teaching is understanding the demand patterns of your business because this will help to analyse and strategise the inventory so the customer needs and wants will be provided at the right time.
Alexandra
July 1, 2021
Efficient assessment and control of inventory is key and very important to any business, a company l have worked for before collapse because of poor inventory control, l must say with authority that no serious company can succeed in this modern time when your inventory control is poor.
Pamblom
April 20, 2021
My business inventory control and inventory in totality is not the best dough i did not know much about this topic but it has inform me that am not doing something right, i must learn this course in detail and apply it to my small business because i believe it will turn things around.
Kokotee
April 16, 2021
This is the second time am hearing about inventory control but i think your information is more easy to understand and practice in my business to ensure success, for now i need to take a step on my inventory control.
Pumkin
April 12, 2021
In this modern time it is very difficult if not impossible to become a market leader when you have a poor inventory control system as organization, now i have decided to take a very careful look of my inventory because it can make or break my business, the information you provided is very needed now than before.
Hanson
April 9, 2021
As a small business owner i have a weakness in this area inventory control, i think your course is giving me information that i did not know before, but am now going to learn this course carefully and apply it to my business.
Hepson
April 7, 2021
When a consultant came to our company some years ago he identify weakness in our inventory control and inventory management as one of our weakness, the issue i have now is some of your content on this course reflected as part of the recommendation, i think your content is very authentic and address specific to industry concern.
Capito
April 6, 2021
our business is a partnership and because of misunderstanding we have a lot of challenges in inventory control, i have now identify my this course that our problem is inventory inefficiency, because our system setup is very poor, i have learnt something that will help the business.
Doris
April 5, 2021
I must confers i was not serious as a young business women when it comes to my inventory both finished goods and raw materials i was not taking good care but it has cost me a lot of harm in monetary terms, but thanks fully this course content and its explanation has thought me the significance of taking care of inventory, its really profitable to the business.
Doglas
April 3, 2021
I have learn that effective inventory is as good as cash, but a lot of the time goods are not being taken serious by management and i think the heath of inventory in an organization also show how serious the organization is in terms of taking care of its inventory.
Cosmos
April 2, 2021
good inventory control practices is very important as you have thought in this course this area is where my company limitation is coming from for example we did not review inventory periodically and revise our stock too so it has cost the business so much, I think from today there is going to be a change to follow the right direction that will help my business.
Doglas
April 2, 2021
Your course have thought me as a small business that inventory is a big asset for any organization when i keep my inventory well it will give me competitive edge and can also avoid unnecessary product shortage
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3845656
udemy ID
2/13/2021
course created date
2/28/2021
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