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Course Description

Inventory levels impact operational performance, customer service, and the cost structure that delivers a product or service. Carrying inventory is costly because it ties up cash and creates risk of obsolescence. Therefore, an inventory management policy aligned to deliver the organization’s objectives needs to be in place.

In this course, you will explore the drivers of inventory strategy and compare product life cycles. You will practice using the appropriate models and approaches to match levels of inventory with demand in a way that maximizes profit, and you will determine the optimal policies to manage two types of inventory in a given scenario. Finally, you will recommend strategies to improve operations management in your organization based on the principles of the Toyota Production System.

The following courses are required to be completed before taking this course:

  • Process Analysis in Operations
  • Improving Operations
  • Quality Control Systems

Faculty Author

Natalia Santamaría

Benefits to the Learner

  • Calculate service-level metrics to determine how likely an organization is to fulfill a customer request
  • Use the Newsvendor Model to match levels of inventory with demand in a way that maximizes profit for short life cycle products
  • Use the EOQ Model to match levels of inventory with demand in a way that maximizes profit for long life cycle products
  • Recommend TPS-derived strategies to improve operations management in your organization

Target Audience

  • Managers and executives
  • Manufacturers
  • Business analysts
  • MBA students

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
May 01, 2024 to May 14, 2024
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,199.00
Section Notes

IMPORTANT COURSE INFORMATION

  • To enhance your experience in this course, the faculty author recommends reading The Goal: A Process of Ongoing Improvement, E. Goldratt and J. Cox, North River Press, 3rd revised edition. Reading this book along with your coursework is optional and will not impact your ability to complete the program. 
Type
2 week
Dates
Jun 26, 2024 to Jul 09, 2024
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,199.00
Section Notes

IMPORTANT COURSE INFORMATION

  • To enhance your experience in this course, the faculty author recommends reading The Goal: A Process of Ongoing Improvement, E. Goldratt and J. Cox, North River Press, 3rd revised edition. Reading this book along with your coursework is optional and will not impact your ability to complete the program. 
Type
2 week
Dates
Aug 21, 2024 to Sep 03, 2024
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,199.00
Section Notes

IMPORTANT COURSE INFORMATION

  • To enhance your experience in this course, the faculty author recommends reading The Goal: A Process of Ongoing Improvement, E. Goldratt and J. Cox, North River Press, 3rd revised edition. Reading this book along with your coursework is optional and will not impact your ability to complete the program. 
Type
2 week
Dates
Oct 16, 2024 to Oct 29, 2024
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,199.00
Section Notes

IMPORTANT COURSE INFORMATION

  • To enhance your experience in this course, the faculty author recommends reading The Goal: A Process of Ongoing Improvement, E. Goldratt and J. Cox, North River Press, 3rd revised edition. Reading this book along with your coursework is optional and will not impact your ability to complete the program. 
Type
2 week
Dates
Dec 11, 2024 to Dec 24, 2024
Total Number of Hours
10.0
Course Fee(s)
Standard Price $1,199.00
Section Notes

IMPORTANT COURSE INFORMATION

  • To enhance your experience in this course, the faculty author recommends reading The Goal: A Process of Ongoing Improvement, E. Goldratt and J. Cox, North River Press, 3rd revised edition. Reading this book along with your coursework is optional and will not impact your ability to complete the program. 
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