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 

II. Inventory Control

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)