Inventory Control and EOQ Using Excel
By External Provider
About this course
Learn how to analyze inventory control systems, apply EOQ models, and use MIS tools such as Excel to optimize inventory decisions and improve operational efficiency. This course provides practical skills in inventory management, stock analysis, procurement planning, and quantitative inventory techniques used in modern business operations. The course begins with the foundations of inventory management, introducing the importance of maintaining optimal stock levels and addressing common inventory challenges faced by organizations. Learners will explore inventory prioritization methods such as Pareto analysis to improve efficiency and support better decision-making. As the course progresses, learners examine advanced inventory techniques including lifecycle management of slow-moving and non-moving inventory items, procurement strategies, and methods for reducing stock-related operational issues. The course also focuses on quantitative inventory models such as Economic Order Quantity (EOQ) and reorder level calculations. Learners will use Excel-based MIS tools and analytical techniques to optimize ordering decisions, reduce holding and ordering costs, and improve stock availability. What makes this course unique is its integrated approach combining inventory management concepts, analytical frameworks, and practical Excel-based applications into one structured learning experience. By the end of the course, learners will be able to confidently apply inventory control techniques, optimize procurement decisions, and improve operational performance in supply chain and business environments.
What you will learn
- Analyze inventory control methods and evaluate stock management challenges.
- Apply EOQ, reorder levels, and Pareto analysis using Excel-based MIS tools.
- Optimize inventory decisions to reduce costs and improve operational efficiency.