Description

This course at a glance

Accredited by CPDQE

Understand inventory control basics.

Analyze inventory dynamics.

Calculate safety stock.

Recognize statistical method limitations.

Assess risk tolerance in inventory.

Compute stockout risk over time.

Inventory control is not just about counting stock; it’s a science that, when mastered, can propel your career and add significant value to any organization. Why is effective inventory control crucial? Because poorly managed inventories can become a drain on resources, while optimized stock levels can be a key driver of profitability.

This course is a thorough exploration of inventory control, segmented into 10 targeted modules. The curriculum starts with the basics of what inventory control entails, followed by an in-depth look into inventory dynamics. Learn the nuances of safety stock calculations and explore statistical methods to achieve this, along with their limitations. Risk plays a significant role in inventory control; our course enables you to assess risk tolerance and calculate the probability of stockouts over time. Further, you’ll learn how to optimize safety stock levels, apply advanced inventory control techniques, and stay ahead by understanding future trends in inventory control.

Whether you’re new to the field or an experienced professional looking to upskill, this course will equip you with the tools to become an expert in inventory control. Unlock the door to new opportunities and take command of your professional growth. Enrol today!

Accredited by

This course is CPDQE accredited, which serves as an impactful mechanism for skill enhancement.

Continuing Professional Development (CPD) stands as a crucial, widely acknowledged method that aids individuals, organisations, and entire industries in staying current with their skills and knowledge.

CPD not only facilitates the elevation of global standards and benchmarks, aligning with the growing forces of globalisation and consumer expectations but also transforms learning into a deliberate and proactive process. It motivates professionals to uphold a consistently high level of performance and demonstrates their unwavering commitment to a specific job role or profession.

Course Curriculum

Module 1: What is Inventory Control?

Module 2: Inventory Dynamics

Module 3: Safety Stock Calculations

Module 4: Calculating Safety Stock Using Statistics

Module 5: Key Limitations of Using Statistical Methods

Module 6: Tolerance for Risk in Inventory Control

Module 7: Probability of a Stockout Over Time - Calculating Risk

Module 8: Optimising Safety Stock Level

Module 9: Advanced Inventory Control Techniques

Module 10: Future Trends in Inventory Control

Frequently Asked Questions

Do you offer free certificate?

Yes, we offer free PDF Certificate upon course completion. Here is an example certificate that you will get after completing your course. course image

Is this course accredited?

Yes, this course is accredited by CPDQE.

Who is CPD for?

Continuing Professional Development (CPD) is a practice embraced by countless individuals across diverse industries and professions. Typically, professional organisations and institutes mandate CPD requirements, often specifying a specific number of annual CPD training hours.

In recent decades, the dedication to CPD has transcended the confines of traditional sectors and UK-based institutions, gaining global recognition and acceptance.

Why do you need CPD?

Can you tell me about CPD Points, hours and credits?

The majority of institutions and professional organisations establish Continuing Professional Development (CPD) goals, typically on an annual basis. These objectives are determined by accumulating CPD activities, which include participating in training courses, eLearning programs, events, and other structured learning experiences.

Most professional bodies employ CPD hours as their primary metric, and when CPD points or credits are utilised, they are typically in a direct 1:1 correlation with CPD hours. In simpler terms, one CPD point equates to one CPD hour.

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Inventory Control

By LearnDrive UK

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