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

Inventory Management Methods and Replenishment Models

LSC502 · Procurement and Inventory Management — Week 7 of 16

CourseLSC502
Week7 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Inventory Management Methods and Replenishment Models

  1. Economic Order Quantity (EOQ) and reorder levels
  2. Just-in-Time (JIT) and lean replenishment
  3. Material Requirements Planning (MRP)
  4. Vendor-Managed Inventory (VMI)
  5. Lec 24-Material Requirements Planning (MRP)
  6. Just in Time & Lean Systems

What you will be able to do

  • 3.3 Compare different methods of inventory management.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: compare different methods of inventory management.

Study materials

Videos

  • Just in Time & Lean Systems · YouTube · Dr. Haywood · 9 min · for registered students
  • Inventory Management – Economic order quantity - ACCA Financial Management (FM) · YouTube · OpenTuition · 28 min · for registered students
  • Inventory Control (part 4) - Reorder Level - ACCA Management Accounting (MA) · YouTube · OpenTuition · 16 min · for registered students

Further resources

  • Operations Management (Fanshawe), ch. 13: Inventory Management · Reading · Other, textbook chapter; PDF pp. 565–600 · for registered students
  • Operations Management (Fanshawe), ch. 16: Just-In-Time and Lean Systems · Reading · Other, textbook chapter; PDF pp. 687–714 · for registered students
  • MIT OCW ESD.260J Logistics Systems (Fall 2006), Inventory management I: EOQ · 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 6Midterm
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