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

Inventory Management Approaches

LSC606 · Supply Chain Planning and Control — Week 7 of 16

CourseLSC606
Week7 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Inventory Management Approaches

  1. Economic Order Quantity (EOQ)
  2. Continuous review versus periodic review models
  3. ABC and VED inventory classification
  4. Vendor-Managed Inventory (VMI) frameworks
  5. Mod-04 Lec-09 Inventory Models -- Costs, EOQ model
  6. Lec 23-Inventory Control and Management

What you will be able to do

  • 3.2 Assess inventory approaches used in business.

Activity

Start with this week’s 2 videos, then: Seminar, guided reading and a short written task: assess inventory approaches used in business.

Study materials

Videos

  • Inventory Management: How to Align Company Strategy with the Right Policies? · YouTube · MIT Center for Transportation & Logistics · 44 min · for registered students
  • Inventory Management – Quantity discounts - ACCA Financial Management (FM) · YouTube · OpenTuition · 18 min · for registered students
  • Inventory Management – The Just-in-time system - ACCA Financial Management (FM) · 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
  • MIT OCW ESD.260J Logistics Systems (Fall 2006), Inventory management I: EOQ · PDF · MIT OpenCourseWare, slides · 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 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 Supply Chain Planning and Control
  • Week 2: Core Elements of Planning and Control Systems
  • Week 3: System Capacity Determination
  • Week 4: Strategic Capacity Management
  • Week 5: Capacity Decisions for Competitive Advantage
  • Week 6: Inventory Functions and Classifications
  • Week 7: Inventory Management Approaches
  • Midterm: Midterm evaluation
  • Week 9: Lean and Pull-Based Inventory Control
  • Week 10: Master Production Schedule Techniques
  • Week 11: Bills of Materials and System Integration
  • Week 12: Applying Supply Chain Planning and Control in practice: cas…
  • 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