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Inventory Management
  • Level Professional
  • Duration 6 hours
  • Course by University of California, Irvine
  • Offered by

About

Inventory is a strategic asset for organizations. The effective management of inventory can minimize a company’s spending while dramatically increasing its profit. In this course, we will explore how to use data science to manage inventory in uncertain environments, how to set inventory levels based on customer service requirements, and how to calculate inventory for products that have short sales cycles.

Modules

Steady-State Demand: No Demand Variability

    • 1 Videos
    • 3 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Module 1 Knowledge Check

1 Discussions

  • Activity

1 Videos

  • Reorder Point

3 Readings

  • Demand Behavior
  • Steady-State Demand
  • Gather Lead Time Information

Inventory Management with Demand Variability

    • 1 Videos
    • 2 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Module 2 Knowledge Check

1 Discussions

  • Activity

1 Videos

  • Reorder Point and Safety Stock

2 Readings

  • Sources of Variability
  • Ways to Counter Variability

Inventory as a Strategic Tool to Meet Customer Service Level

    • 1 Videos
    • 1 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Module 3 Knowledge Check

1 Discussions

  • The Optimal Customer Service Level

1 Videos

  • Safety Stock and Customer Service Level

1 Readings

  • Relationship Between Inventory and Customer Service Level

Newsvendor Model (One-Period Decision Model)

    • 1 Videos
    • 3 Readings
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Module 4 Knowledge Check

1 Discussions

  • How Can Newsvendor Model Improve Your Forecast and Inventory Management?

1 Videos

  • Newsvendor Model

3 Readings

  • History of the Newsvendor Model
  • Underage / Overage Costs
  • Applications of the Newsvendor Model

Auto Summary

Discover the strategic power of inventory management with this comprehensive course designed for business and management professionals. Guided by expert instructors from Coursera, you'll delve into the nuances of using data science to optimize inventory in fluctuating environments. Learn to align inventory levels with customer service demands and master the calculation of inventory for products with brief sales periods. Over 360 minutes, this professional-level course offers deep insights and practical skills essential for minimizing costs and maximizing profits. Flexible subscription plans, including Starter and Professional, allow you to learn at your own pace. Ideal for those aiming to enhance their proficiency in inventory management and drive organizational success.

Paul Jan
Instructor

Paul Jan