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Inventory Control Strategies for Effective Management

All you need to know about Product Management | Include Free PDF Certificate & Tutor Support

Learndrive

Summary

Price
£12 inc VAT
Study method
Online, On Demand What's this?
Duration
2 hours · Self-paced
Qualification
No formal qualification
Certificates
  • Reed Courses Certificate of Completion - Free
Additional info
  • Tutor is available to students

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Overview

Embark on a comprehensive journey through the world of Inventory Control with this detailed course. From understanding the basics of inventory dynamics to exploring advanced Product Management techniques, this course offers a deep dive into the essentials of Product Management. Whether you're a novice in inventory control, an experienced Product Management professional, or someone keen on optimizing their stock levels, this Product Management course is tailored to provide you with actionable insights and techniques.

Learning Outcome: Upon completing this Product Management course, participants will:

  • Grasp the foundational concepts of Inventory Control and Product Management.
  • Develop the ability to design and implement effective Product Management strategies.
  • Understand and apply various stock control and Product Management techniques.
  • Master the art of safety stock calculations and risk management in Product Management.
  • Stay updated with emerging trends and prepare for a career in Product Management.

Curriculum

11
sections
16
lectures
2h 2m
total

Course media

Description

Dive deep into the multifaceted world of Inventory Control with this meticulously designed Product Management course. From understanding stock dynamics to exploring future trends in Product Management, this course provides a blend of theoretical knowledge and practical insights. Whether you're looking to optimize your inventory, understand safety stock calculations, or simply deepen your knowledge in Product Management, this course is your ultimate guide.

Course Curriculum:

  • Module 1: Basics of Inventory Control and Product Management

    • Introduction to the world of Product Management.
    • Understanding safety and buffer stock in Product Management.
    • The role of supply chain trade-offs in Product Management.
    • Delving into costs of inventory in Product Management.

  • Module 2: Inventory Dynamics in Product Management

    • Understanding reorder points in Product Management.
    • Alternatives to the reorder point in Product Management.
    • The role of demand forecasting in Product Management.
    • Real-world case studies of Product Management in action.

  • Module 3: Safety Stock Calculations in Product Management

    • Introduction to safety stock calculations in Product Management.
    • Detailed guide to calculating safety stock in Product Management.
    • Factors influencing safety stock levels in Product Management.
    • Adjusting safety stock levels in Product Management based on demand or supply changes.

  • Module 4: Statistical Methods in Product Management

    • Using standard deviation in Product Management safety stock calculation.
    • The role of service level in Product Management.
    • Troubleshooting common issues in Product Management safety stock calculation.

  • Module 5: Limitations of Statistical Methods in Product Management

    • Understanding assumptions in Product Management safety stock calculation.
    • Real-world limitations of statistical methods in Product Management.
    • Managing risk with limited data in Product Management.

  • Module 6: Risk Management in Product Management

    • Understanding risk in Product Management.
    • Evaluating tolerance for risk in Product Management.
    • Tools and techniques for risk assessment in Product Management.
    • Case study: Risk management in Product Management in action.

  • Module 7: Stockout Risk in Product Management

    • Understanding the concept of stockout in Product Management.
    • The impact of a stockout on businesses in Product Management.
    • Evaluating and minimizing stockout risks in Product Management.

  • Module 8: Optimizing Safety Stock Levels in Product Management

    • Techniques for optimizing safety stock levels in Product Management.
    • Balancing inventory costs and service levels in Product Management.
    • Case study: Successful safety stock optimization in Product Management.

  • Module 9: Advanced Product Management Techniques

    • Introduction to Just-In-Time (JIT) Product Management.
    • The role of ABC Analysis in Product Management.
    • Vendor Managed Inventory (VMI) in Product Management.
    • The role of technology in modern Product Management.

  • Module 10: Future Trends in Product Management

    • The impact of E-commerce on Product Management.
    • The growing importance of sustainability in Product Management.
    • The role of predictive analytics and big data in Product Management.
    • Preparing for the future of Product Management.

Who is this course for?

The Product Management course is suitable for all.

Requirements

This Product ManagementTraining does not have any prerequisites or formal requirements.

Career path

Taking Product Management Course will open up a variety of career options for you.

Questions and answers

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Certificates

Reed Courses Certificate of Completion

Digital certificate - Included

Will be downloadable when all lectures have been completed.

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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