Nowadays, industrial companies gain competitive
advantages through inventory management practices worldwide. In this
regard, an important aspect of remaining competitive is to study and to
manage the stocks. In essence, inventory management refers to overseeing
and controlling of the ordering, storage and use of components that a
company will use in the production of the items it sells as well as the
overseeing and controlling of quantities of finished products for sale.
Therefore, to achieve smooth production process while keeping the costs
incurred at a minimum level, an effective inventory management is
The second part of the course connects the inventory
management to concepts of demand forecasting and order policies in
order to address the strategic level of decision making processes within
the production plants and distribution centers.
After successfully completing the course, students should be able to:
Differentiate models of inventory management
Adapt theoretical knowledge of inventory management in practical problems
Recognize the interrelation between strategic demand forecasting activities and the inventory management real-life practices
The course is designed for international Bachelor
and Master students in with basic knowledge in the fields of Inventory
Management and Demand Forecasting. Specific knowledge in Supply Chain
Management is not required.