LEARNING OBJECTIVES
To enable the students:
1. To understand the significance of Inventory management and evolution of modern systems.
2. To gain theoretical and practical knowledge about various inventory control techniques.
COURSE OUTCOME
The successful completion of the course will enable the students to:
1. Explain the concept and significance of inventory management.
2. Discuss given data using inventory control techniques to solve inventory control challenges.
SYLLABUS
I. Introduction to Inventory management
i. Definition and Objectives
ii. Inventory management and Supply chain management
iii. Scientific Inventory Control
iv. Smart Inventory Management systems - Features, benefits and challenges
i. Inventory control techniques:
· ABC Classification
· V.E.D Analysis
· EOQ Analysis
ii. Inventory Turnover Ratio
iii. Stock level assessment and others
(Theory and Problems)