Republic Polytechnic

Inventory Replenishment and Ordering Decision


Course Level

Early Career

Course Duration

1 Day  

Industries

Warehousing & Logistics

Funding

SkillsFuture Credit Skills Development Fund Workfare Training Support

Course Introduction

Inventory management can be a very challenging task, especially when dealing with a complicated supply chain. While every company strives to maintain a healthy inventory level, the approaches adopted may differ from one another. Depending on demand patterns and product characteristics, companies need to adapt their strategies to ensure products reach them at the right time and place.

This course will equip you with the fundamental knowledge and strategies in inventory management. You will also get to learn how to set up a Microsoft Excel template to calculate order quantities, safety stock, and re-order point.


Who is this Course for?

Managers, analysts, professionals, executives and start-up owners who are interested in understanding the inventory ordering and replenishment process to achieve better inventory control.


Course Outline

Learning Objectives

By the end of the course, participants will be able to:
• recognise the important role of inventory management in a supply chain

• classify the major types of inventory and inventory costs

• determine the order quantity, safety stock, and reorder point for an ordering process via Microsoft Excel

• explain the various inventory ordering policies and their characteristics

• experience the bullwhip effect in a typical supply chain via a simulation game

• identify the Key Performance Indicators (KPIs) for inventory management


Pricing

Full Course Fee (excl. GST): SGD 270.00

Full Course Fee (incl. GST): SGD 288.90

Fee SG Citizen Aged 21-39 or SG PR aged 21 & above (incl. GST): SGD 86.67

Fee SG Citizen aged 40 & above (incl. GST): SGD 28.89



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