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Level 3 Diploma in Logistics, Supply Chain and Operations Management

Inventory types and strategic purposes

LSC302 · Cross-functional Interconnectivity — Week 4 of 16

CourseLSC302
Week4 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Inventory types and strategic purposes

  1. Raw materials and WIP
  2. Finished goods
  3. Buffer and safety stock
  4. Cycle and transit stock
  5. Inventory Management | A-Level, IB & BTEC Business
  6. Inventory Management in Operations Management
  7. Lecture 13 Inventory Management

What you will be able to do

  • 2.1 Describe different types of inventory and their purpose.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: describe different types of inventory and their purpose.

Study materials

Videos

  • Inventory Management | A-Level, IB & BTEC Business · YouTube · tutor2u · 5 min · for registered students
  • Inventory Management in Operations Management · YouTube · Dr. Haywood · 10 min · for registered students
  • Lecture 13 Inventory Management · YouTube · Eddy Witzel · 10 min · for registered students

Further resources

  • Operations Management (Fanshawe), ch. 13: Inventory Management · Reading · Other, textbook chapter; PDF pp. 565–600 · for registered students
  • MIT OCW ESD.260J Logistics Systems (Fall 2006), Inventory management IV: probabilistic demand, safety stock · PDF · MIT OpenCourseWare, slides · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 3Week 5
Course chat

Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Core business functions and supply chain alignment
  • Week 2: Consequences of cross-functional misalignment
  • Week 3: Integrated cross-functional planning
  • Week 4: Inventory types and strategic purposes
  • Week 5: Stock control and replenishment decisions
  • Week 6: Data integrity and information flows
  • Week 7: External stakeholder collaboration
  • Midterm: Midterm evaluation
  • Week 9: Digital technologies and supply chain visibility
  • Week 10: Supply chain resilience and continuity
  • Week 11: Organizational coordination and process improvement
  • Week 12: Applying Cross-functional Interconnectivity in practice: ca…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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