Fundamentals of Inventory Management Using Microsoft Excel

🎓 Course Headline: Essential Concepts and Analytical Techniques for Manufacturing Professionals

Course Description:

Embark on a transformative learning journey with our online course, "Fundamentals of Inventory Management Using Microsoft Excel." This meticulously crafted program is tailored for manufacturing professionals who aspire to master the art of inventory management. Led by the esteemed Ray Harkins at The Manufacturing Academy, this comprehensive course delves into the core concepts, advanced techniques, and pivotal tools necessary for excelling in managing inventory effectively.

What You'll Learn:

• Business Accounting Basics: Dive into the foundational aspects of business accounting as it applies to inventory management, including an analysis of financial statements, understanding Cost of Goods Sold (COGS), and learning different valuation methods such as FIFO (First In, First Out), LIFO (Last In, First Out), and Weighted Average Cost (WAC).
• Data Visualizations: Master the art of visual storytelling with data through saw tooth diagrams and histograms, essential tools for interpreting inventory data.
• Demand Forecasting: Explore the world of predictive analytics with an emphasis on simple demand forecasting using normal distributions, time series analysis, and addressing growth trends and seasonality.
• Total Cost of Inventory: Delve into the nuances of total inventory cost, including holding and ordering costs, and gain insights into the Economic Order Quantity (EOQ) model to optimize your inventory levels.
• Further Topics in Inventory Management: Expand your knowledge with lectures on ABC Analysis, Vendor Managed Inventory, Just in Time (JIT) inventory principles, and Inventory Control Policies. Discover how these topics intersect with broader concepts like Capacity Analysis, Supply Chain Management, and Quality Management.

Course Features:

• Case Studies: Engage with real-world scenarios to understand the practical applications of the inventory management concepts you learn.
• Quizzes and Practice Exercises: Solidify your knowledge through interactive quizzes and hands-on practice exercises that allow you to apply what you've learned directly within Microsoft Excel.
• Downloadable Course Notes and Glossary of Terminology: Access comprehensive study materials, including downloadable notes and a glossary to ensure you have the terminology at your fingertips.
• Microsoft Excel Integration: Enhance your analytical skills by learning how to effectively use Microsoft Excel for inventory management tasks, making you a more formidable spreadsheet strategist.

Course Content Breakdown:

• Almost 7 hours of engaging and informative video content that provides a thorough education in the basics of inventory management principles and practices.

Who Should Enroll:

• Manufacturing professionals eager to refine their inventory management skills.
• Newcomers to inventory management seeking a solid foundation in key concepts and techniques.
• Experienced practitioners looking to expand their analytical abilities with intermediate strategies.

Benefits of Taking This Course:

• Enhanced Inventory Control: Learn to manage inventory levels effectively, balancing customer demand with cost minimization.
• Improved Decision-Making: Utilize data visualization and forecasting techniques to inform your inventory decisions with confidence.
• Practical Skills: Apply your learning to real-world scenarios and practice exercises that reflect the challenges you'll face in a manufacturing environment.

Additional Course Benefits:

• LIFETIME Access: Gain unlimited access to all course materials, plus any future materials we add later—your educational journey never ends!
• Certificate of Completion: Receive a formal recognition of your learning achievements with a certificate that includes your name, the course title, and the duration of the course.
• Q&A Access: Post your questions on the Udemy platform and receive guidance from Ray Harkins, a 30+ year manufacturing and business professional.

👉 Enroll Now in "Fundamentals of Inventory Management Using Microsoft Excel" to elevate your inventory management skills and gain a competitive edge in the world of manufacturing. Don't miss this opportunity to transform your approach to inventory control and optimization!