Inventory Management

Each of the three related courses in this course block provides essential information for effectively managing inventory. The three courses in the block are: An Overview of Inventory Management, Purchasing, and Monitoring and Measuring.

The content for this course is provided by Grant Howard, president of Grant Howard & Associates

Competencies: 

On completion of the course block the student will be able to:

• Use appropriate measures to determine inventory management effectiveness.
  
• Set and track inventory management objectives.
  
• Calculate the usage rate for any item.
  
• Determine appropriate safety levels for stock items.
  
• Use appropriate techniques for restrictive and nonrestrictive purchasing.
  
• Schedule and conduct cycle counting.
  
• Identify and deal with excess inventory.