Inventory Management

Price: $135.00

CPE Credits: 15.0

Category:

Course Number: PRDSBIM

inventory management

Description:
Inventory is expensive and difficult to manage, and yet is an essential requirement for providing great service to customers. Inventory Management provides the tools to retain enough inventory to assure high levels of customer service, while avoiding excessive inventory levels that can absorb cash and generate losses. Topics covered include inventory policies, materials planning, purchasing and the supply chain, receiving, storage, shipping, production activities, record accuracy, warehousing efficiencies, measurements, and much more. This course covers a mix of classic and advanced management techniques to help the user maintain firm control over the mix and amount of inventory. Table of Contents
Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: April 2015
Update: April 2018

Format: PDF
Pages: 252

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

• Cite the types of inventory, and the need for reorder points, safety stock, and economic order quantities.
• State the manner in which inventory can be incorporated into a company’s competitive strategy, and the situations in which certain strategies should be employed.
• Identify the policies that should be used to control inventory, and the situations in which they should be used.
• State the types of forecasting variations that can be used, how forecasts can be incorrect, and what can be done to mitigate these effects.
• State the various costs related to suppliers, how a spend management system can be created, and the issues related to volume purchase discounts.
• Cite the receiving techniques that can be used to minimize inventory damage, organize incoming deliveries, create cross docking transactions, and similar issues.
• State the types of equipment used in putaway and picking transactions, as well as their advantages and disadvantages.
• Identify the components of the major production management systems, as well as the techniques used to improve the flow of inventory through the production process.
• State the methods used to enhance the efficiency and effectiveness of the shipping func-tion.
• State who identifies obsolete inventory and how such inventory is located.
• Identify the methods used in the engineering area to minimize the number of parts, improve the production process, and generally reduce the investment in inventory.
• Recognize the issues that can reduce inventory record accuracy.
• State the situations in which the periodic and perpetual inventory systems should be used, and issues related to physical inventory and cycle counts.
• State the impact on inventory and costs of how the supply chain is managed.
• Identify the methods used to increase the efficiency of the warehouse.
• State the storage characteristics of inventory, as well as the situations in which various types of storage systems can be used.
• Cite the steps used to plan the warehouse layout, as well as the impacts of various issues on the final layout and sizing.
• Recognize the key inventory measurements and the circumstances under which they are used.

Description:
Inventory is expensive and difficult to manage, and yet is an essential requirement for providing great service to customers. Inventory Management provides the tools to retain enough inventory to assure high levels of customer service, while avoiding excessive inventory levels that can absorb cash and generate losses. Topics covered include inventory policies, materials planning, purchasing and the supply chain, receiving, storage, shipping, production activities, record accuracy, warehousing efficiencies, measurements, and much more. This course covers a mix of classic and advanced management techniques to help the user maintain firm control over the mix and amount of inventory. Table of Contents
Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

Author: Steven Bragg, CPA

Publication: April 2015
Update: April 2018

Format: PDF
Pages: 252

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

• Cite the types of inventory, and the need for reorder points, safety stock, and economic order quantities.
• State the manner in which inventory can be incorporated into a company’s competitive strategy, and the situations in which certain strategies should be employed.
• Identify the policies that should be used to control inventory, and the situations in which they should be used.
• State the types of forecasting variations that can be used, how forecasts can be incorrect, and what can be done to mitigate these effects.
• State the various costs related to suppliers, how a spend management system can be created, and the issues related to volume purchase discounts.
• Cite the receiving techniques that can be used to minimize inventory damage, organize incoming deliveries, create cross docking transactions, and similar issues.
• State the types of equipment used in putaway and picking transactions, as well as their advantages and disadvantages.
• Identify the components of the major production management systems, as well as the techniques used to improve the flow of inventory through the production process.
• State the methods used to enhance the efficiency and effectiveness of the shipping func-tion.
• State who identifies obsolete inventory and how such inventory is located.
• Identify the methods used in the engineering area to minimize the number of parts, improve the production process, and generally reduce the investment in inventory.
• Recognize the issues that can reduce inventory record accuracy.
• State the situations in which the periodic and perpetual inventory systems should be used, and issues related to physical inventory and cycle counts.
• State the impact on inventory and costs of how the supply chain is managed.
• Identify the methods used to increase the efficiency of the warehouse.
• State the storage characteristics of inventory, as well as the situations in which various types of storage systems can be used.
• Cite the steps used to plan the warehouse layout, as well as the impacts of various issues on the final layout and sizing.
• Recognize the key inventory measurements and the circumstances under which they are used.

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