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Level 4 Diploma in Logistics and Supply Chain Management

Inventory Management Processes and Replenishment

LSC403 · Operations and Logistics Management — Week 9 of 16

CourseLSC403
Week9 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Inventory Management Processes and Replenishment

  1. Continuous and periodic review systems
  2. Safety stock calculation
  3. Stocktaking and cycle counting
  4. Vendor Managed Inventory (VMI)
  5. Periodic and Perpetual Inventory Systems
  6. Lec 19- Safety Stock and Fixed Time Inventory Model

What you will be able to do

  • 3.4 Describe a logistic business’s inventory management processes.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: describe a logistic business’s inventory management processes.

Study materials

Videos

  • Periodic and Perpetual Inventory Systems · YouTube · Dr. Haywood · 7 min · for registered students
  • Inventory (Stock) Control Charts · YouTube · tutor2u · 8 min · for registered students
  • Ordering and accounting for inventory - ACCA Management Accounting (MA) · YouTube · OpenTuition · 24 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.
MidtermWeek 10
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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: Fundamentals of Operations Management
  • Week 2: Operations Planning and Resource Constraints
  • Week 3: Logistics Management and Business Alignment
  • Week 4: Logistics Network Planning and Supply Chain Integration
  • Week 5: Warehouse Management Principles
  • Week 6: Warehouse Operational Processes
  • Week 7: Principles of Inventory Management
  • Midterm: Midterm evaluation
  • Week 9: Inventory Management Processes and Replenishment
  • Week 10: Transport Management and Modal Selection
  • Week 11: Transport Planning and Contemporary Issues
  • Week 12: Applying Operations and Logistics Management in practice: c…
  • 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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