Business and technology qualifications, Levels 3-6, in Brussels. Explore qualifications
Portal login
Level 5 Diploma in Logistics and Supply Chain Management

Inventory Management and Inventory Control Fundamentals

LSC502 · Procurement and Inventory Management — Week 6 of 16

CourseLSC502
Week6 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Inventory Management and Inventory Control Fundamentals

  1. Strategic inventory planning versus day-to-day stock control
  2. The inventory management cycle
  3. Inventory categorization (ABC/VED)
  4. Perpetual and periodic stocktaking
  5. Lec 23-Inventory Control and Management
  6. Periodic and Perpetual Inventory Systems
  7. What is EOQ vs EPQ + ABC Analysis, Vendor Managed Inventory, and JIT

What you will be able to do

  • 3.1 Differentiate between inventory management and inventory control.
  • 3.2 Describe an inventory management cycle.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: differentiate between inventory management and inventory control.

Study materials

Videos

  • Periodic and Perpetual Inventory Systems · YouTube · Dr. Haywood · 7 min · for registered students
  • What is EOQ vs EPQ + ABC Analysis, Vendor Managed Inventory, and JIT · YouTube · Dr. Haywood · 15 min · for registered students
  • EOQ Sensitivity Analysis · YouTube · MIT Center for Transportation & Logistics · 3 min · for registered students

Further resources

  • Operations Management (Fanshawe), ch. 13: Inventory Management · Reading · Other, textbook chapter; PDF pp. 565–600 · for registered students
  • Principles of Accounting, Volume 1: Financial Accounting, ch. 6: Merchandising Transactions · PDF · OpenStax, textbook chapter; pp. 343–422 · 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 5Week 7
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.

Open this week in the portal
Course plan
  • Week 1: Foundations of Procurement and Purchasing
  • Week 2: Procurement Methods and Sourcing Strategies
  • Week 3: The End-to-End Procurement Process
  • Week 4: Procurement Management within the Supply Chain Context
  • Week 5: Strategic and Operational Impact of Procurement on Logistics
  • Week 6: Inventory Management and Inventory Control Fundamentals
  • Week 7: Inventory Management Methods and Replenishment Models
  • Midterm: Midterm evaluation
  • Week 9: Strategic Value and Role of Inventory in Supply Chains
  • Week 10: Supply Chain Factors Influencing Inventory Management
  • Week 11: Assessing the Impact of Inventory on Supply Chain Performan…
  • Week 12: Applying Procurement and Inventory Management in practice: …
  • 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
Back to the course
Scroll