Inventory management has evolved significantly over the years, transitioning from basic stockkeeping to a strategic business activity that is crucial for a firm’s competitiveness and profitability. The traditional approach to inventory management is characterized by manual processes and limited automation, which causes it to be both labor-intensive and error-prone. This reactive approach lacks the integration with other functions such as production, finance, marketing, and engineering, that promotes inventory optimization. Participants will be taught proactive approaches to inventory management that are critical for effective inventory management in today’s highly competitive and demanding environment.

The course will demonstrate how by leveraging technology, integrating with the supply chain, and adopting lean practices, businesses can optimize their inventory processes, reduce costs, and enhance customer satisfaction. As technology advances, inventory management will remain critical to business strategy, driving operational excellence and long-term success.

This course is designed for professionals involved in inventory management, logistics, supply chain, or procurement functions. It is also beneficial for business owners and managers seeking to improve their organization’s inventory management practices.