Effective Inventory Management and Optimization
In today's competitive business landscape, efficient inventory management is a critical factor for the success of any organization. Participants will gain valuable knowledge and practical skills to enhance inventory control processes.
Overview
This course includes:
- 1.5 hours of on-demand video
- Certificate of completion
- Direct access/chat with the instructor
- 100% self-paced online
In today's competitive business landscape, efficient inventory management is a critical factor for the success of any organization. Businesses face challenges in maintaining the right balance between having enough inventory to meet customer demands while avoiding excess stock that ties up capital and increases storage costs. This course, titled "Effective Inventory Management and Optimization," addresses a need for professionals to understand the intricacies of inventory control and optimization. Inventory management directly impacts an organization's bottom line, affecting factors such as operational costs, customer satisfaction, and overall profitability. Mismanagement of inventory can lead to stockouts, delays in fulfilling orders, increased carrying costs, and inefficient use of resources. This course provides comprehensive insights into inventory management techniques and best practices to optimize inventory levels, reduce costs, and improve inventory management efficiency. Participants will gain valuable knowledge and practical skills to enhance inventory control processes.
Skills You Will Gain
Learning Outcomes (At the end of this program you will be able to)
- Assess the significance of effective inventory management and its impact on organizational performance.
- Get familiar with the fundamental parameters of inventory management and optimization.
- Apply various inventory forecasting and demand planning techniques used in inventory management.
- Develop effective inventory optimization strategies to improve inventory turnover, reduce excess stock, and enhance customer satisfaction.
- Measure inventory performance using key metrics and use data-driven insights to make informed inventory decisions.
Prerequisites
To excel in a course on Effective Inventory Management and Optimization, you should have a basic grasp of business concepts, proficiency in math and statistics, and prior knowledge of inventory management principles such as EOQ and safety stock. Industry-specific knowledge can also be helpful but is not always required.
Who Should Attend
This course is designed for professionals involved in inventory management, logistics, supply chain, or procurement functions. It is also beneficial for business owners and managers seeking to improve their organization’s inventory management practices.
Curriculum
1Module 0 - Introduction to Inventory Management
Segment 1 - Introduction to the Course and the Instructor
Segment 2 - Understanding the Importance of Inventory Management
Segment 3 - Key Objectives and Benefits of Efficient Inventory Control
Segment 4 - Common Inventory Management Challenges and Pitfalls
Segment 5 - Overview of Inventory Systems and Technology
2Module 1 - Fundamental Parameters of Inventory Management
Segment 6 - Supply and Demand
Segment 7 - Replenishment Order and Lot Size
Segment 8 - Lead Time, Demand During Lead Time and Replenishment Period
Segment 9 - Inventory Position, Reorder Point and Order-Up-To Level
3Module 2 - Inventory Forecasting, Demand and Requirement Planning
Segment 10 - Methods for Forecasting Demand and Sales – Part 1
Segment 11 - Methods for Forecasting Demand and Sales – Part 2
Segment 12 - Data Analysis and Historical Sales Patterns
Segment 13 - Forecasting Requirements through Material Requirements Planning (MRP)
4Module 3 - Inventory Optimization, Control Strategies and Techniques
Segment 14 - Inventory Related Costs
Segment 15 - Classification of Inventory Items - ABC analysis, XYZ analysis and other methods
Segment 16 - Just-in-Time (JIT) Inventory Management
Segment 17 - Inventory Optimization Part 1: Cost Minimization, Economic Order Quantity (EOQ) Model and Its Extensions
Segment 18 - Inventory Optimization Part 2: Determining Safety Stocks and Reorder Points
5Module 4 - Inventory Tracking and Performance Metrics
Segment 19 - Key Performance Indicators (KPIs) for Inventory Management
Segment 20 - Replenishment Tracking and Expediting
Segment 21 - Using Technology for Inventory Modeling and Optimization
Segment 22 - Lessons for Inventory Management Professionals from Lean Manufacturing Principles
Instructors
Mustafa Bayülgen
Mustafa Bayülgen is a seasoned logistics and supply chain professional with over 17 years of industry experience. Throughout his career, he has developed deep expertise in optimizing inventory and warehouse operations, streamlining logistics processes, and driving overall supply chain efficiency. His commitment to simplifying complexities in data management systems aligns seamlessly with the principles of Industry 4.0, where precision, automation, and real-time insights are essential.
Keenly focused on delivering measurable impact, he has consulted for manufacturers, retailers, and logistics service providers—helping them achieve greater competitiveness, sustained growth, and improved profitability. His core competencies include inventory optimization, warehouse layout planning, transportation management, and logistics network design. He is also experienced in mitigating supply chain risks and enhancing supplier relationships, having led initiatives in supplier selection, development, and evaluation.
Beyond his professional accomplishments, Mustafa Bayülgen is passionate about teaching and knowledge-sharing. As an instructor on platforms such as LinkedIn, he combines theoretical frameworks with practical insights to foster continuous learning and improvement across the global supply chain community. His academic foundation includes an MBA in Logistics and Operations Management from Penn State University, along with a TESOL certification, reflecting his interdisciplinary approach to communication and education.
Outside the world of logistics, he is an avid amateur pianist who shares his musical expressions under the name "PianoLane" on YouTube. His solo piano performances reflect a deep appreciation for harmony and discipline—values that resonate in both his musical and professional life.
Through publications and presentations focused on inventory optimization and logistics efficiency, Mustafa Bayülgen continues to influence and inspire within the ever-evolving field of supply chain management.
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Yes, we do offer a certification upon completion of our course to showcase your newly acquired skills and expertise.
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