Module 4 - Inventory Management

Methods of Inventory Management to Reduce Financial Losses

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Description

Inventory Management (IM) will help you to stay up-to-date with inventory management process and deal with the different challenges that may be faced. As inventory constitutes a major part of total investment, it is crucial to practice good inventory management and ensuring growth and profitability of your investment.



Description

Inventory Management (IM) will help you to stay up-to-date with inventory management process and deal with the different challenges that may be faced. As inventory constitutes a major part of total investment, it is crucial to practice good inventory management and ensuring growth and profitability of your investment.


This module highlights the major aspects of inventory management such as:


Learning Objectives

Know & understand the challenges of inventory management
Effective management of inventory
Factors affecting inventory management
Understanding and calculating inventory turnover rate (ITOR)
Various methods of inventory management
Efficient managment
  • Reduces the cost of goods, associated expenses and helps save on purchase of less costly products
  • How much of good to re-order and how frequently the order should be placed?
    • Objective of IM
    ITOR
  • The most practical approach to determine inventory management

    • Learning Objectives

    Know & understand the challenges of inventory management
    Effective management of inventory
    Factors affecting inventory management
    Understanding and calculating inventory turnover rate (ITOR)
    Various methods of inventory management

    Summary notes

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