Inventory Management with Quantitative Models and Forecasting
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Introduction
Inventory management using quantitative models and forecasting techniques is essential for achieving operational efficiency and cost control in modern organizations. This course is designed to equip professionals with advanced knowledge and practical skills to apply quantitative methods in inventory analysis and demand forecasting. The program covers key inventory models such as Economic Order Quantity (EOQ), ABC analysis, and inventory control systems, along with quantitative and qualitative forecasting techniques. Participants will learn how to use data analytics to support decision-making and maintain the optimal balance between inventory availability and cost reduction. This course is ideal for professionals in supply chain, warehousing, and operations who aim to enhance inventory efficiency, reduce waste, and improve future planning capabilities in dynamic business environments.
Objectives
- Develop quantitative inventory management skills
- Improve demand forecasting accuracy
- Reduce inventory holding costs
- Analyze data for decision-making
- Optimize inventory balance
- Apply modern quantitative models
- Minimize waste and loss
- Enhance operational efficiency
Target Audience
- Warehouse managers
- Supply chain managers
- Procurement managers
- Operations managers
- Data analysts
- Logistics professionals
- Professionals seeking development
Content Outline
Module 1 – Quantitative Inventory Fundamentals
- Inventory concepts
- Importance of quantitative methods
- Inventory types
- Inventory costs
- Inventory cycle
- Efficiency improvement
Module 2 – Quantitative Inventory Models
- EOQ model
- Fixed order model
- Periodic model
- ABC analysis
- Reorder points
- Optimization
Module 3 – Demand Forecasting Methods
- Quantitative forecasting
- Qualitative forecasting
- Trend analysis
- Statistical models
- Seasonality
- Accuracy improvement
Module 4 – Data Analysis and Decision Support
- Data analysis
- Analytical models
- KPIs
- Decision-making
- Performance improvement
- Continuous evaluation
Module 5 – Performance Optimization and Cost Reduction
- Cost reduction
- Process improvement
- Efficiency enhancement
- Waste reduction
- Risk management
- Continuous development
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