About the course:
Study time commitment: Short Course
Learning style: Classroom
Who is the course for: Entry Level
Course provider: Master Research Australasia
Key contact: Dr. David Wilson
(CILTT) Advanced Inventory Management
Course Outline
This course is based around Robert Brown’s text “Advanced Spare Parts Inventory Control”. It uses his methods of forecasting demand – exponential smoothing and Fourier series methods – to capture periodicity and introduce the use of tracking signals. Requires advanced knowledge of mathematical tools and Excel proficiency. Students are encouraged to bring their data for analysis and case studies.
Course Objectives:
- Models of inventory
- Spare parts inventory management
- Infrequent or rare demand – measurement
- Strategies to cope with rare events – case studies from defence and mining
- The IBM approach – history – and now
Duration
The course is taught over 2 days with a hands-on – practical approach. Students need to bring their lap tops plus data for analysis.
Delivery Mode
Classroom
Pre-requisites
Students need to have an understanding of applied statistics and supply chain management. A basic course in inventory management would be a distinct advantage.
Fees
On Application
Commencement Dates
On application